Hartford Business Journal

6 Hartford Business Journal • May 29, 2017 www.HartfordBusiness.com TOP STORY State labor unions to decide fate on $1.5B concessions package State employee union leaders and Gov. Dannel P. Malloy struck a tentative deal for $1.5 billion in concessions, to help close the state's $5 billion deficit. Unions still need to approve the deal. While some lawmakers estimated a vote could happen in late June, it may not happen until mid-July. The proposed deal would save the state $708 million next fiscal year and $845 million in 2018-19 — nearly matching the $1.57 billion, two-year sav- ings target Malloy set in February. The plan would freeze wages for each of the next two fiscal years. Em- ployees, most of whom are working this fiscal year under contracts that expired last June, also would forfeit any retroactive pay hike. The cumulative three-year wage freeze would provide nearly half of the total projected savings. Workers would receive 3.5 percent base pay hikes in 2020 and in 2021, and also would be eligible for step increases. Workers would be required to take three furlough days. The framework also would double pension contributions for most work- ers, create a hybrid pension/defined-contribution plan for future workers, increase healthcare co-payments and premiums, require active workers to contribute more toward their retirement healthcare benefit, and curtail healthcare benefits for existing retirees. In return for these concessions, the state would extend its worker benefits contract — which otherwise would expire in 2022 — until 2027. Unions that grant wage concessions also would be largely exempt from layoffs through the 2021-22 fiscal year. – Keith Phaneuf | CT Mirror HEALTH CARE Lembo urges public healthcare option in CT Connecticut Comptroller Kevin Lembo is calling for an expansion of the fed- eral Medicare program providing health care for seniors and a state effort to create a public insurance option. In letters to Connecticut's U.S. senators, Lembo, who is pursuing a run for governor, is recommending expanding Medicare eligibility to all. He is also ask- ing a bipartisan Connecticut group to explore state-level action to institute a public health insurance option in the state's individual market. As President Donald J. Trump and Congress move forward with a plan to re- place the Affordable Care Act, Lembo said prompt action is necessary to ensure that millions of Americans, including hundreds of thousands in Connecticut — particularly those with pre-existing conditions — have access to high quality and affordable health care. In a separate letter to Lt. Gov. Nancy Wyman, who recently convened a bi- partisan group to develop an action plan, Lembo said the "increasing instability of Connecticut's healthcare exchange and federal healthcare policies demands immediate action. The time has come for a public health insurance option." CT has fewer uninsured due to ACA, officials say On the seventh anniversary of the Affordable Care Act, state officials said the federal health insurance law has helped cut in half, to 3.8 percent, Connecticut's uninsured rate. Lt. Gov. Nancy Wyman and Access Health CT CEO Jim Wadleigh said last week the state's uninsured rate is among the lowest in the nation and that the ACA has benefited 724,000 residents across Connecticut who now have health cov- erage. The law, however, has led to increasing health insurance costs for some. The U.S. House of Representatives has already voted to overturn the federal law in favor of new regulations being advanced by the Trump administration. EDUCATION Wesleyan RJ Julia bookstore debuts in Middletown Wesleyan University celebrated the opening of the new Wesleyan RJ Julia Bookstore last week, marking its debut as a potential hub for economic activity in downtown Middletown. Wesleyan President Michael S. Roth and store owner Roxanne Coady said the bookstore can be a catalyst for community and business growth. The 13,000-square-foot store is located at 413 Main St. and has high ceilings with tin detail, natural light, and a two-story open concourse that provides space for reading and shopping for more than 18,000 books. A special section highlights authors from the Wesleyan community. GAMING Tribes win casino fight in Senate, face battle in House The Mashantucket Pequot and Mohegan tribes won the first half of their home-court fight with MGM Resorts International over the rights to gaming ex- pansion in Connecticut as the Senate voted 24-12 last week for a bill authoriz- ing the tribes to jointly develop the state's first casino off tribal lands. The bill would allow the tribes to build a casino off I-91 in East Windsor in an effort to blunt the loss of gambling dollars to Massachusetts once MGM opens a gambling resort under construction in Springfield. However, gaining House approval will be more difficult. House Democratic leaders said last week the casinos must pay for the privilege to open a third casino and give Connecticut a measure of "budgetary relief." The Senate bill imposes a 25-percent tax on gross gaming revenues, but no licensing fee or other upfront payments, a disappointment to House Democrats who were hoping for as much as $100 million in new gambling dollars to help balance the budget for the fiscal year that begins July 1. – Mark Pazniokas | CT Mirror 'Skilled' gambling machines debut at Foxwoods Foxwoods Resort Casino has introduced skill-based video game gambling machines in partnership with New York City-based GameCo. Inc., the two com- panies said. The new machines — the first in Connecticut — feature the games "Phar- oah's Secret Temple" and "Nothin' but Net." Located on two carousels in high- traffic locations at the Mashantucket casino, the six gaming machines are de- signed to appeal to casual gamers, sports fans and slot players. GameCo. Inc. is targeting approximately 23 million gamers in the U.S. Cus- tomers typically are over 21, represent the top percentile of household income, and are already visiting casinos, said Blaine Graboyes, co-founder and CEO of GameCo. TOURISM CT tourist attractions seek more visitors with free admissions day Fifty tourist attractions in Greater Hartford and about 200 more across Con- necticut plan to open their doors June 10 to tourists and visitors with either free admission or special offers. The promotion, dubbed Connecticut Open House Day, is in its 13th year, and is aimed at boosting business for tourist attractions, said Randy Fiveash, direc- tor of the Connecticut Office of Tourism. Last year, many participating busi- nesses reported two, three and four times as many visitors on Open House Day than a typical Saturday, he said. Sites in the Hartford area range from lesser-known places like the Huguenot House Museum in East Hartford to the New Britain Museum of American Art. A complete listing of 2017 Connecticut Open House Day participants and offers is available here. REAL ESTATE CT housing permits slid in April Connecticut's leading indicator for new housing demand eased in April, as fewer building permits were issued, the state says. Of the 104 cities/towns regularly surveyed by the U.S. Census bureau, they collectively issued just 209 permits for single- and multi-family housing, the state Department of Economic and Community Development (DECD) said. A year ago, those same communities granted 299 permits, DECD said. In April 2015, the count was 334. BY THE NUMBERS 3.8% The percentage of Connecticut residents who have no health insurance, which is one of the lowest uninsured rates in the nation. $1.5B The total value of the estimated wage and benefits concessions agreed to by state employee unions. 24 The number of state senators who voted in favor of allowing the Mashantucket Pequot and Mohegan tribes to open a third Connecticut casino in East Windsor. 13,000 The square footage of the Wesleyan RJ Julia Bookstore in Middletown, which debuted last week. TOP 5 MOST READ on HartfordBusiness.com ■ 'Skilled' gambling machines debut at Foxwoods ■ Tentative union deal prompts support from CT biz group ■ Berkshire Bank buys Commerce Bank, relocates HQ to Boston ■ Tesla pledges 10 CT stores, dealerships doubtful ■ Alexion c-suite shakeup continues STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com. HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on LinkedIn: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/subscribe Weekly e-newsletters: CT Green Guide Weekly, CT Health Care Weekly www.HartfordBusiness.com/subscribe WEEK IN REVIEW Gov. Dannel P. Malloy at a press conference flanked by his wife, Cathy (left), and Lt. Gov. Nancy Wyman. P H O T O | C O N T R I B U T E D

• Cover