Hartford Business Journal

February 6, 2017

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For more B2B news visit FEBRUARY 6, 2017 Volume 25, Number 8 $3.00 Subscribe online Who will rank #1? Find out in our Feb. 20th issue! GRAND DILEMMA 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 Index ■ Week in Review: PG. 6 ■ The List: PG. 9 ■ Deal Watch: PG. 10 ■ Capitol Biz: PG. 10 ■ Nonprofit Notebook: PG. 16 ■ Movers & Shakers: PG. 16 ■ Opinion & Commentary: PG. 20 FOCUS: BIOSCIENCE Recruiting Magnet The Hartford region's roster of bioscience talent continues to expand with recruitment of top clinicians and researchers, and the hiring spigot shows no signs of shutting off. PG. 8 Network Adequacy Connecticut is taking a significant step to improve transparency of insurers' medical provider networks, a move advocates say is necessary as consumers face more complexities in where they can choose to receive care. PG. 3 Anti-Poaching A lawmaker has proposed a unique bill that prohibits states from stealing companies from each other using grants or tax breaks. PG. 18 By Gregory Seay gseay@HartfordBusiness.com W ith only a handful of months left before his second retire- ment, Jerry Clupper is more upbeat about the future of manufac- turing in Connecticut and the U.S. than any time in his 15 years as exec- utive director of one of this state's leading industry lobbies. Members of the New Haven Manufacturers Association (NHMA), as well as some on its leadership board and others, credit Clupper with drawing the attention of indus- try peers, educators, lawmakers and the general public to producers' ongo- ing plights: Onerous state regulations that bury them in mounds of paper- work and a perpetual talent shortage. That awareness has led more Millennials to consider a manufac- turing career, and prompted state policymakers to consider other ways to support an industry that has been a linchpin of Connecticut's economy for more than three centuries. Now, Clupper and his peers are fret- ting over a new headache emerging to replace the old one: A growing short- age of vocational-technical instruc- tors to train the next generation of manufacturing talent fast enough to Jerry Clupper, executive director, New Haven Manufacturers Association Clupper: A catalyst for reviving CT's manufacturing fortunes Continued on page 12 Rising realty values boost Hartford's budget, stir tax headaches for landlords By Gregory Seay gseay@HartfordBusiness.com G rowth in the value of Hartford's tax- able real estate is both a blessing and a curse to the city's long-term efforts to generate more revenue to stave off a potential bankruptcy or state bailout, experts say. Yearly expansion of the grand list — Hart- ford's value of all real estate, personal prop- erty and automobiles climbed 10 percent this year as a result of an Oct. 2016 revaluation — is the goal of every Connecticut municipality that relies on the tax revenues to pay for a ret- inue of municipal services, from schools and public libraries, to police and fire protection. However, the state's Capital City, with its dubious distinction of having the highest property-tax rate in the state that many say drags its economic prospects, is faced with a predicament: It can opt to maximize its income stream from a plumper grand list by maintain- ing its 74.29 mill rate, which will significantly hike commercial property taxes for many land- lords. Such a move could also lead to higher office and apartment rents and thwart future capital investment in the city, experts say. But some observers see a potential oppor- tunity for Hartford to bolster its investment appeal by trimming its mill rate, while still Continued on page 14 Downtown Hartford's housing makeover contributed to the 10 percent rise in value of Hartford's taxable property. P H O T O | S T E V E L A S C H E V E R

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