Hartford Business Journal

June 6, 2016

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G R E AT E R H A R T F O R D ' S B U S I N E S S N E W S w w w. H a r t f o rd B u s i n e s s . c o m For more B2B news visit Subscribe online SAVE THE DATE! 'BLACK TIE & BLUE JEANS' ANNIVERSARY EVENT WEDNESDAY, SEPT. 14, 2016 CT CONVENTION CENTER | HARTFORD Cool things just stand the test of time. Join us in celebrating 20 years of young entrepreneurs. 20th ANNIVERSARY 19 9 7-2 0 16 Index ■ Reporter's Notebook: PG. 5 ■ Week in Review: PG. 6 ■ Focus: PG. 8 ■ The List: PGS. 10, 12 ■ Deal Watch: PG. 14 ■ Movers & Shakers: PG. 24 ■ Opinion & Commentary: PG. 28 Budget Crunch As we head into the summer tourism season, Connecticut officials will have less money to spend marketing the state's attractions, while individual museums, nonprofits and arts groups will also see less state funding. PG. 3 FOCUS: TECHNOLOGY Growth Spurt Glastonbury enterprise resource planning software developer Shoptech Software has been named to Inc. Magazine's fastest-growing 5,000 companies in America list in each of the last nine years. Find out what's fueling the company's growth. PG. 8 JUNE 6, 2016 Volume 24, Number 27 $3.00 Credit union CFO claims whistleblower retaliation By Matt Pilon mpilon@HartfordBusiness.com A former chief financial officer and his top lieutenant, both fired in January by one of the state's largest credit unions, aren't going away quietly. The former employees of Rocky Hill- based Nutmeg State Financial Credit Union (NSFCU) have filed a civil lawsuit against their former employer, claiming they were fired in retaliation for communicating with regulators what they believed were improper accounting practices at the credit union. The plaintiffs, former Nutmeg CFO Timo- thy Ross and former Vice President of Lending By Gregory Seay gseay@HartfordBusiness.com F or decades, the town of Berlin watched with some envy as com- mercial development sprouted along stretches of the Berlin Turnpike that were beyond its borders. Newington and Meriden, just two of the communities that hug the 12-mile, four-lane asphalt strip, saw an explosion of big-chain retailers and restaurants, as well as local vendors, in their towns. But Berlin, handcuffed in part by a commercial land-use policy that restricted development and preservation concerns, was shut out. For many town residents, that was just fine. Not anymore. The slowly improving economy, along with a host of other factors — ranging from more coordinated economic planning to an ordi- nance shift allowing development on smaller parcels in town, and Continued on page 19 FILLING SPACES Berlin warms to development on its turnpike, other corners Berlin economic development director Christopher Edge at the future turnpike home of Acura of Berlin. Continued on page 20 A Nutmeg State Financial Credit Union branch in Rocky Hill. P H O T O | C O N T R I B U T E D Show Guide PGS. 15-18 H B J P H O T O | G R E G O R Y S E A Y

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