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28 Hartford Business Journal • October 24, 2016 www.HartfordBusiness.com Fortunato Construction Group Headquarters: Kensington Industry: Construction Year Founded: 1989 Founder: Vincent J. Fortunato Generation Currently Running Company: First No. of Full-Time Employees: 24 No. of Part-Time Employees: 0 Family Members Currently Employed at Company: Vincent Fortunato, President, CEO; Rich Fortunato, Vice President, COO – Vince's brother; Lindsey Fortunato, Project Architect – Vince's daughter Company Website: fortunatoconstruction.com Q&A How do you instill your family values in your employees? At Fortunato Construction Group we think of our team as one big family. We lead with the values of respect, integrity, loyalty and generos- ity. The relationships we develop on our team and with our clients are the single most impor- tant aspect of our business, and we encourage all of our employees to nurture these relation- ships that remain at the heart of their practice. We believe in caring for the whole person that shows up to work each day, supporting their independence, guiding their growth, and celebrating their successes. Our presi- dent has always led by example, supporting his team generously, sharing wisdom, friend- ship, and liberal rewards for hard work. Perhaps most admirably, Vince truly cares for each of his employees as he cares for his fam- ily, often supporting individuals through the dif- ficult challenges that life presents. This support has led to long-lasting employee tenures with the firm, many with careers over 15 and 20 years. How can Connecticut improve its family business environment? We often find that the most successful and rewarding projects we build are in partner- ships with clients who are also connected to a family business. We experience the great- est alignment in values with these clients, and enjoy deeper relationships founded on mutual respect, a desire for legacy, and a "whatever it takes" attitude that gets the job done. We have worked locally in Connecticut for 27 years, and have developed very strong rela- tionships with Connecticut-based subcon- tractors, many of whom are also leading sec- ond- and third-generation family businesses. Connecticut could improve its family busi- ness environment by connecting these compa- nies and promoting local working relationships amongst family businesses. By developing a platform for easily locating other like-minded firms, and offering incentives for collaboration, Connecticut could support its family business- es, and promote value-oriented connections throughout our local economy. What is the one family value you want passed onto each generation in your business? From its inception, Fortunato Construc- tion Group was built around developing and maintaining relationships. The connections with our team, clients, providers, partners and others are the company's most valuable asset. From generation to generation, understanding the value of these relationships, and growing new ones, will continue to be the most critical and sacred aspect of the success of this firm. With every decision we make, from business management to project management, we've got the impact of those around us in mind. As the firm continues to grow and change over time, these relationships will remain at the very heart of who we are, and how we do business. n Acme Wire Products Co. Inc. Headquarters: Mystic (town of Stonington) Industry: Manufacturer of custom metal fabrications Year Founded: 1970 Founder: Edward J. Planeta Generation Currently Running Company: Second No. of Full-Time Employees: 50 No. of Part-Time Employees: 3 Family Members Currently Employed at Company: Mary Planeta Fitzgerald, President; Edward Planeta, Jr., VP Sales; Michael Planeta, VP Manufacturing Company Website: www.acmewire.com Q&A How do you remain competitive in the market? As business costs rise and competition becomes more fierce, Acme Wire Products works to provide a high-quality product and personal service and responsiveness to our cus- tomers. Acme Wire Products is not providing a commodity product, we are making custom- fixtured wire and metal components. We have invested in technology, equipment upgrades, employee training and cross-training and look for areas where we can more fully meet the needs of our customers by expanding our fab- rication capabilities. Cost is an important consideration but we try to provide the best overall value to our customers, whether it is in the form of cus- tom-packaging solutions, a variety of finishes or a weekly shipping schedule. As a company, we listen to our customers and provide them with a solution to best meet their needs. How do you instill your family values in your employees? We take the approach of communicating family and company values through the way we act, speak and conduct ourselves. We stress the traits and values that are impor- tant to us and what it takes to be successful on personal and professional levels. We do not instill, demand or require that employees follow a particular path. The family values that we emphasize are stated in a portion of our corporate mission statement: • We have a commitment to our employees to provide fair wages and benefits and to respond to their concerns in a timely and efficient manner. • We will manage the business profitably so it continues to provide value and employment opportunities. • We will conduct business in an ethical manner and contribute to our local com- munity in the areas of improving basic needs and in the form of sponsorship to direct and further the manufacturing tal- ents and aptitude of our local workforce. How can Connecticut improve its family business climate? The best way for the state of Connecticut to improve its business climate for family-owned businesses would be to eliminate or reduce the estate and gift taxes. Currently, Connecticut has both a standalone estate tax and it also has a gift tax and it is the only state in the nation with a gift tax. The gift and estate taxes bring in a rela- tively small amount of revenue each year, and over time the estate tax has brought in a dimin- ishing proportion of tax revenue. In fiscal year 2014, the tax brought in only 1 percent of total general fund revenue. n The Fortunato Construction Group team is shown celebrating the company's 25th anniversary at a party held at the Infinity Music Hall in Hartford. Acme Wire Products employees pose in front of the company's sign at its Mystic headquarters. 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 2016 CONNECTICUT FAMILY BUSINESS AWARDS CATEGORY: Fewer than 25 full-time Employees 3 rd Place Winner 2016 CONNECTICUT FAMILY BUSINESS AWARDS CATEGORY: 25-75 full-time Employees 3 rd Place Winner