Hartford Business Journal

6 Hartford Business Journal • January 11, 2016 www.HartfordBusiness.com GOVERNMENT, POLITICS & LAW Report: Public retirement for private-sector workers feasible The Connecticut Retirement Security Board has submitted a report to the General Assembly that says a public retirement program for private-sector em- ployees is financially feasible under a range of market scenarios and plan de- signs. Connecticut is the first state in the nation to complete a market feasibility study of such a plan to address retirement financial insecurity. The proposed program would not be mandatory for businesses that currently already offer a 401k plan or other workplace-based retirement savings options to all employees; it would not require that participating employers contribute to the program (only that they provide a payroll deduction mechanism for employ- ees to contribute); and employee participation in the plan would be voluntary (they would be automatically enrolled, but can opt out if they prefer). The report said the program could potentially serve, at a minimum, almost 600,000 Connecticut residents currently without access to workplace-based retirement savings. ECONOMY CT wages hit record highs Wages for Connecticut residents have reached record highs, according to state Labor Department data, which shows private-sector wages have risen almost $4 an hour in the last eight years. According to the figures, in that span, weekly wages for residents, on average, have increased by about $130 per week, a 15 percent increase. The data shows 2015 wages are the highest at any point ever reported. Nationwide, Connecticut's hourly earnings rose the fifth highest of any state compared to overall hourly earnings since Nov. 2014. Connecticut ranks fourth in America in average hourly wages as well as aver- age weekly earnings. Outward migration continues in CT If moving trucks are any indication, the outward migration of Connecticut resi- dents continued for the fifth straight year in 2015. An Atlas Van Lines Co. study said Connecticut was one of 18 outbound states for moving vans. Connecticut is classified as outbound in Atlas' study, meaning more than 55 percent of shipments were going out of the state. In the last decade, it has either been classified as outbound or balanced, which means outbound traffic was be- low 55 percent. The Northeastern states saw three major changes from 2014 to 2015, with Maine and Rhode Island going from balanced to inbound. Also, New Hampshire went from an inbound to balanced. The remainder of the states did not undergo any status change in 2015. New York and New Jersey have been outbound states for more than 13 years. ADVERTISING, MEDIA & MARKETING Courant names new top exec The Hartford Courant Media Group has named Tom Wiley as its new publisher and CEO. He replaces Richard Daniels, who is leaving to head Tribune Publishing media companies in Baltimore and Allentown, Penn. Prior to joining the Courant, Wiley was executive vice president of sales for Digital First Media. That role included oversight of New Haven Register, Tor- rington Register Citizen, and Middletown Press, as well as Connecticut Maga- zine. He had previously worked for Lee Enterprises and Berkshire Hathaway. Daniels took over as head of the Courant in late 2014 and had been running the Hartford, Baltimore, and Pennsylvania properties on an interim basis for the past several months. NBC CT adding news broadcast NBC Connecticut, which is an NBC-owned station, will add a 4 p.m. newcast starting in late May, intensifying competition in the local TV news market. NBC joins Fox 61 as the only local stations to offer a 4 p.m. newscast. HEALTH CARE ECHN expands behavioral-health services Eastern Connecticut Health Network last week announced the opening of a new behavioral-health unit located in its emergency department at Manchester Memorial Hospital. The $1.2-million expansion was funded through the estate of the late Raymond "Sonny" Damato and can accommodate up to 11 patients. ECHN's behavioral-health programming currently includes a 25-bed adult inpatient unit, six-bed adolescent inpatient unit, among other services. ECHN this month also is beginning construction of a 30-bed inpatient eating- disorder unit at Rockville General Hospital. TECHNOLOGY Hartford area computer-services firms merge Connecticut Computer Service Inc. and CASE Partners have announced their merger. CASE will operate as a division of Connecticut Computer Service. No financial details were disclosed. CASE, based in Hartford, has been operating for 22 years providing application and web development services. Connecticut Computer Service provides network infra- structure support services. It has locations in Rocky Hill and Southington. Network and infrastructure services will continue to operate out of Connecti- cut Computer Service's Southington and Rocky Hill locations. Web, mobile and application development activity, including all salesforce consulting services, will operate out of CASE Partners' downtown Hartford office. BY THE NUMBERS $1.7M The fees and other considerations Centerplan Cos. said it will waive to help trim cost overruns of Hartford's new minor league baseball stadium. 200 The number of people Comcast plans to hire in Connecticut this year to boost its customer service ratings. 15% The approximate increase in Connecticut residents' average weekly wage over the past eight years, which equates to about a $4-per-hour raise. $200,000 The state's projected surplus for the current fiscal year thanks to new revenue streams and budget cuts enacted by the General Assembly in December. TOP 5 MOST READ on HartfordBusiness.com ■ CT home price decline worst in nation ■ Sen. Bye starts new year with new job ■ $10M hole has city's ballpark 'sideways' ■ CT Bartaco owner's $74M credit refi ■ State now projecting $200K surplus STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com. HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on LinkedIn: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/subscribe Weekly e-newsletters: CT Green Guide Weekly, CT Health Care Weekly www.HartfordBusiness.com/subscribe WEEK IN REVIEW TOP STORY $10M hole has city's ballpark 'sideways' A potential $10 million cost overrun to build Hartford's minor-league ball- park makes it highly unlikely the stadium will be ready for the spring start of the baseball season, threatening the credibility of the city and the builder, city and team officials say. Meantime, Hartford Yard Goats principal owner Josh Solomon, who relocated his team from New Britain on the city's promise of a new ballpark for the 2016 season, said he has no intention of digging into his or the team's pockets for the millions it would take to fill the construction deficit. The city budgeted $56 million to erect the 6,000-seat stadium in the "downtown north'' quadrant, off Main Street. "We're sideways,'' Hartford Stadium Authority Chairman I. Charles Mat- thews said at a contentious three-hour plus special meeting last week at city hall. "I'm trying to figure out what's the path forward.'' Amid fingerpointing by Middletown developer Centerplan Cos., and its construction unit, and the city's construction adviser, International Facilities Group LLC (IFG) of Chicago, an IFG official acknowledged it was unlikely that Dunkin' Donuts Park would be ready by the April 7 start of baseball. Contractually, Centerplan agreed to deliver a largely completed ballpark to the city and its baseball tenant by mid-March. "We're very disappointed,'' Solomon told the authority, whose members include Luke Bronin, who attended his first ballpark authority meeting since being sworn in as Hartford's mayor. "We have to figure out a plan to under- stand where we will be able to play.'' R E N D E R I N G | C O N T R I B U T E D Developers say construction of Dunkin' Donuts Park will be $10 million over budget unless changes are made.

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