Issue link: https://nebusinessmedia.uberflip.com/i/714477
www.HartfordBusiness.com August 15, 2016 • Hartford Business Journal 5 REPORTER'S NOTEBOOK Cable manufacturer first in new innovation cluster Pomfret-based Loos & Co. is the first business to join a new economic develop- ment initiative in northeastern Connecticut known as the Quiet Corner Innovation Clus- ter (QCIC), officials announced. Loos & Co., which makes wires, cables and assemblies used in aircraft steering systems and a broad variety of other appli- cations, will work with UConn's applied chemistry department to conduct research and development on its medical wire prod- ucts, an area the company is looking to expand, according to Robert Davis, Loos' vice president of sales and marketing. Though Loos performs plenty of R&D at its 210,000-square-foot facility, where it employs approximately 300 people, UConn has capabilities and technology the company normally wouldn't be able to access, he said. Davis said UConn — located just 25 min- utes away in Storrs — has imaging equipment that allows it to analyze the surface proper- ties of the super-thin wire, which is just one- thousandth of an inch in diameter, as well as metallurgists who can interpret the results. The wire is used in catheters, insertion and removal of stents and other medical procedures. "They've got the equipment and the people over there to do a bit deeper level of research and a deeper level of visibility into some of our products," Davis said. While expanding a product line is a plus for any company, Davis said one of the things he's most enthused about is building deeper relationships with UConn grad stu- dents who might one day bring their talent to Loos as employees. "We're always in search of the best and the brightest," he said. The QCIC has $1.5 million in funding from the U.S. Economic Development Administration, UConn and Connecticut Innovations. The program is targeted at New London, Tolland and Windham coun- ties — rural areas where the manufacturing sector has suffered economic losses. Loos also has another project in mind to work on with UConn. The company wants help from univer- sity process engineers to assess its busi- ness systems to become more nimble and flexible in how it stocks materials, forecasts business and markets and ships its prod- ucts, Davis said. — Matt Pilon Avon's Casle Corp. sheds assets Avon commer- cial developer-land- lord Casle Corp. qui- etly completed the transfer last spring of some $178 million in realty assets to a Houston real estate investment trust. CEO David Ses- sions confirmed the April sale of 29 medi- cal office buildings, all in the Hartford area and southern Connecticut, to Healthcare Trust of America Inc., (HTA) but insists the deal doesn't alter Casle's model of erecting and managing office properties. Remuneration, Sessions said, was in the form of stock in HTA. Also as part of the deal, Sessions said Casle, which is a closely held development partnership, will con- tinue managing the properties sold to HTA. "It's simply repositioning the assets,'' he said. "The tenants won't see any changes. Our commitment to these buildings remains the same.'' The developer of Glastonbury's Gateway Park, Casle also is constructing a medical- office building in Southington, and finishing work on its newest structure in its Crossroads Medical Office complex in North Haven. Not included in the deal was the office building at 15 N. Main St. in West Hartford that Sessions and his realty partners devel- oped and opened last fall. "Medical is a vibrant part of the market, and we'll keep doing it,'' Sessions said. — Gregory Seay PDS has been meeting the needs of the construction industry since 1965. Our dedicated team of design and construction professionals welcomes the challenge of serving its past and future customers on their most demanding projects. Powder Mill Elementary School; Woodland Elementary School | Southwick, MA PDS served in the role as General Contractor for a combined 163,484 square foot renovation to these two elementary schools. Powder Mill Elementary School was a 95,775 square foot renovation, and Woodland Elementary School was a 67,709 square foot renovation. Both projects have newly renovated laboratories, classrooms, offices, gymnasiums, auditoriums, media centers and cafeterias. Combined Project Size: 163,484 SF 107 Old Windsor Road, Bloomfield, CT 06002 (860) 242-8586 | Fax (860) 242-8587 www.pdsec.com DESIGN BUILDERS • GENERAL CONTRACTORS • CONSTRUCTION MANAGERS SPOTLIGHT ON: Education PDS ENGINEERING & CONSTRUCTION, INC. THINK • PLAN • BUILD U.S. Rep. Joe Courtney (center) flanked by Loos & Co. employees, including sales/marketing VP Robert Davis (left). P H O T O | C O N T R I B U T E D P H O T O | C O N T R I B U T E D Casle Corp. CEO David Sessions. 60 TH ANNUAL NEDA CONFERENCE SEPTEMBER 11-13, 2016 • NEW HAVEN, CONNECTICUT TRANSPORTATION AT THE CROSSROADS THE ECONOMIC DEVELOPER'S ROAD MAP photos by Michael Marsland SAVE THE DATE! September 11-13, 2016 Look for additional details at nedaonline.org and upcoming NEDA Wires 60 TH ANNUAL NEDA CONFERENCE SEPTEMBER 11-13, 2016 • NEW HAVEN, CONNECTICUT TRANSPORTATION AT THE CROSSROADS THE ECONOMIC DEVELOPER'S ROAD MAP photos by Michael Marsland SAVE THE DATE! September 11-13, 2016 Look for additional details at nedaonline.org and upcoming NEDA Wires 60 TH ANNUAL NEDA CONFERENCE SEPTEMBER 11-13, 2016 • NEW HAVEN, CONNECTICUT TRANSPORTATION AT THE CROSSROADS THE ECONOMIC DEVELOPER'S ROAD MAP photos by Michael Marsland SAVE THE DATE! September 11-13, 2016 Look for additional details at nedaonline.org and upcoming NEDA Wires REGISTER NOW! September 11-13, 2016 #NEDANewHaven