Hartford Business Journal

www.HartfordBusiness.com April 10, 2017 • Hartford Business Journal 7 WHAT'S AHEAD: ■ 4/17 Focus: Energy ■ The List: Largest Electricity Suppliers ■ Nonprofit Profile: CT Bar Foundation CALENDAR WEDNESDAY, APRIL 12 Change In D.C. — What it Means for Connecticut's Health Sector The Connecticut Health Council is hosting a full-day program featuring members of Connecticut's Congressional delegation, state officials and industry leaders focusing on changes in federal health policy including the Affordable Care Act. The daylong event, which starts at 8 a.m. at the Aqua Turf Club, 556 Mulberry St., Plantsville, will include a series of three panel discussions about policy shifts that will have an impact on the availability, cost and delivery of health services in Connecticut. The program's primary focus is how federal health policy changes will impact the growth of private-sector employment and capital investment in Connecticut's health sector. Panelists will include Kevin Counihan, formerly of healthcare.gov, Elliot Joseph, CEO of Hartford HealthCare and Marna Borgstrom, president and CEO of Yale New Haven Health System. Cost to attend is $100 for Council members; $150 for nonmembers. For more information or to register go to: http://www.cthealthcouncil.com/home. REAL ESTATE Report: Hartford rental prices decline in March Hartford apartment rental prices fell 3.4 percent in March com- pared with the same month a year ago, according to the April 2017 National Apartment List Rent Report. Rents were flat or declining for much of 2016, but the nation- al rent index has now increased in each of the past three months. In Hartford, the median price for a one-bedroom apartment was $830 in March and $1,170 for a two-bedroom apartment. Compared with the previous month of February, rent also was down 1 percent. But in Hartford County, apartment prices were $1,090 for a one-bedroom and $1,300 for a two-bedroom, up 1.3 percent year over year (but flat month to month). Nationally, after a sharp 1 percent spike between January and February, the U.S. rent index is continuing to rise, but at a slower rate with month-over-month growth coming in at a four-tenths of a percent increase for March. Feb. slump for CT house, condo sales, prices Connecticut home and condominium sales and median prices fell in February, further evidence the state's housing market re- mains "sluggish,'' the latest statewide survey shows. Single-family house sales across the state dropped 4.1 percent to 1,727 units last month vs. 1,800 sold in Feb. 2016, Boston financial publisher The Warren Group said. A year ago, February house sales rose 31 percent from the 2015 mark. Median price for a home sold last month was $220,000 vs. $225,000 a year ago — a 2.2 percent decline, Warren Group said. This is the lowest median February sales price since 2012. Condo sales statewide fell 8.1 percent in February to 454 units vs. 494 in Feb. 2016. The median condo price declined 3.7 percent to $144,500 vs. $150,000 a year ago. This is the third consecutive February year-over-year decrease for condo median prices, Warren Group said. "The Connecticut real estate market is sluggish as sales vol- ume and median prices dipped last month," said Warren Group CEO Timothy Warren. "Perhaps a strong spring market will get things back on track, but I don't see any signs of that yet." TECHNOLOGY Report: CT tech-sector employment 26th in nation At an estimated $13.5 billion, Connecticut's tech sector rep- resented 5.3 percent of the total gross state product (GSP) in 2016, with the number of tech businesses in the state growing 1.8 percent and employment growing 2.6 percent over the last seven years. Those are some of the findings in a comprehensive nationwide report on the economic impact of the tech sector by CompTIA, a global technology association based in Downers Grove, Ill. Across the country, Connecticut ranks 26th for tech employ- ment, 11th for average annual wages and 22nd for innovation. The GSP data is calculated based on economic output from several tech categories, including tech manufacturing, telecom and internet services, software publishing, IT and custom soft- ware services, and engineering and R&D. Connecticut's tech sector is responsible for about 5.3 percent of the state's total $252.9 billion economy. The state whose tech sector makes up the largest percentage of GSP is Oregon at 18 percent; Wyoming is ranked last at 2.2 percent. Kevin Counihan CBIA Health Connections – Connecticut's leading small business insurance program – offers you the best combination of value, service, and choice in a single program. It's easy to administer and backed by industry-leading customer service. Medical plans from ConnectiCare and Harvard Pilgrim Group and voluntary dental, life, disability, and vision options Employee wellness program One bill; one number to call for personal service Join the thousands of Connecticut small businesses who choose CBIA Health Connections. Contact your agent for a quote or visit cbia.com. Why do Connecticut small businesses choose CBIA Health Connections for insurance? cbia.com/insurance | 860.244.1900 Savings, Simplicity, and Service Hartford 21 is one of the priciest rents in downtown Hartford. P H O T O | H B J F I L E

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