Hartford Business Journal

12 Hartford Business Journal • January 11, 2016 www.HartfordBusiness.com Zupkus Gilberto immediate priority. Zupkus and BNE Chairman Paul Corey — lifelong friends and business partners since 2006 — plan to bid on an expect- ed request for proposals from the Department of Energy and Environmental Protection that would lead to another purchase agreement for the power the turbine would produce. A second three-turbine project, Cole- brook North, which would be sited a mile down Route 44, has received most of the necessary approvals. But Zupkus said that project may not move forward in 2016. "We're still on hold," he said. "We haven't made a decision." Colebrook South received $2.8 million in financing from the Connecticut Green Bank. Webster Bank provided the bulk of the project financing ($12.1 million), accord- ing to the Green Bank. BNE started site work in Colebrook in late 2013, in time to qualify for a federal tax credit that expired last year. Congress last month voted to extend the credit through 2020, which negates the need to rush the third Colebrook South turbine, and will benefit future projects. "It will be a boon to wind development in New England," said Corey, who predicted other developers could propose wind projects in Connecticut this year. BNE has already set its sights on a 20-megawatt wind farm in the state. Zup- kus would only reveal that he and Corey have identified 5,000 acres approximately 15 miles from the Flagg Hill site that could have as many as nine turbines. "They'll be buried in the forest, so you're not going to have neighbors that are too close," Zupkus said. They would need to get the project through the Connecticut Siting Council, which now has detailed wind-power regulations, thanks in part to the regulatory process and legal fight surrounding the Colebrook development. Crafted after a three-year moratorium on wind power enacted by the legislature, the regula- tions govern things like turbines' distances from homes and limits on size. BNE's Colebrook projects were grand- fathered in, but Zupkus said the regulations will be a benefit because they give BNE a clear roadmap of how to proceed on future projects. "Now it's black and white," he said. An engineer by training, with degrees from Embry-Riddle Aeronautical University and Wentworth Institute of Technology, Zupkus started his career making radar systems for defense contractor Unisys Corp., before mov- ing on to technical and external affairs roles for Southern New England Telephone Co., which has been sold several times since 1998, and is now owned by Frontier Communications. Zupkus' hobbies include skiing with his family and training for triathlons, which he has been running for 25 years. He plans to compete in his first Ironman triathlon next year in New York. He lives in Prospect with his wife, Republican State Rep. Lezlye Zupkus, and their two daughters, ages 14 and 8, whom they adopted from China. Corey, who is an energy attorney and former executive director of the predeces- sor agency to the Public Utilities Regulatory Authority, said he and Zupkus' varied back- grounds are an asset to BNE's business. "To accomplish everything you need to do to get a project like this built you need a variety of skills," Corey said. "I think that's what makes us effective." n community services, overseeing the organiza- tion's nonprofit resource and volunteer centers. She acknowledges there are challenges both she and the United Way face in 2016. Topping the list will be a focus on not just how much money her organization raises and how many people are served, but how well funds are spent. "[We] are going to be concerned with how many and how well [beneficiaries are served]," she said. The United Way, which has evolved from strictly being focused on philanthropy over the years, works on community partnerships that help people become independent wheth- er it's through better education in elementary school or job development. "I really believe in the value of collaboration," Gilberto said, adding the United Way in a time of intense competition for resources can be a place where people gather together to work on issues. "No one entity is going to be able to tackle issues. It's on the shoulders of all of us." David Garvey, director of UConn's Non- profit Leadership Program, said Gilberto's biggest challenge will be keeping programs going when government funding is declining. He said she also faces the challenge of merg- ers affecting corporate philanthropy. "Merg- ers aren't the healthiest thing for a corporate environment. That brings the dollars together, but often there is a potential for a shrinkage for overall giving," said Garvey, adding that Gilberto's strengths are developing partner- ships and making them work. While industry consolidation is a con- cern to Gilberto, she doesn't seem over- whelmed by potential mergers involving The Phoenix Cos., Anthem, Cigna and Aetna. She said each of those companies have a "deeply-rooted tradition of supporting health, human services, education and the arts in the communities where their employees live and work." She said it's too early to tell what impact the mergers will have, but she's hopeful "that their commit- ment to our local community remains solid despite a change in corporate structure." Joseph Spalluto, retired group head of fixed income for investment bank Keefe, Bruyette & Woods, said mergers and acquisitions can lead to diminishing philanthropic resources over time, but it's not a new trend. "This has been going on for years," said Spalluto, who serves on the boards of St. Francis Hospital and Medical Center as well as the University of St. Joseph. "All the major banks are gone, like Hartford Nation- al and CBT, through mergers and acquisi- tions," adding that St. Francis Hospital was recently acquired by Michigan-based Trin- ity Health. Gilberto said two broad program initiatives she will focus on are jobs and education. The latter includes ongoing efforts to have children reading at grade level by grade four. She said research shows children hitting that milestone typically do better academically and stay in school through high school graduation. The United Way will also focus on having ninth grade students equipped with the skills to suc- ceed academically to graduate high school on time and be ready for college or the workforce. Gilberto also said the United Way will focus on jobs training to help individuals obtain skills for in-demand jobs that pay a living wage. "Our intent is to work with other philan- thropic organizations that share the com- mitment to do something of significance for families," said Gilberto. n 5 to Watch in 2016 P u b l i s h i n g J u n e , 2 0 1 6 | i n P r i n t a n d O n l i n e Be a Part of Doing Business in Connecticut 2016 Economic Vitality, Workforce Development, Research and Innovation for Connecticut. For more information contact Donna Collins, Associate Publisher at 860-236-9998 ext. 121, or dcollins@HartfordBusiness.com Overview: D oing Business in Connecticut is an annual glossy four color magazine — in print and digital formats — showcasing Connecticut's many economic development opportunities, and the attributes that make Connecticut a special place to work, live and play. Doing Business in Connecticut examines the many advantages Connecticut offers companies to grow their operations in the state and highlights why Connecticut is in a prime position to attract new businesses. 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