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6 Hartford Business Journal • June 12, 2017 www.HartfordBusiness.com TOP STORY House votes for final approval of tribes' casino in East Windsor The Mashantucket Pequot and Mohegan tribal nations crossed the finish line last week on the last day of the General Assembly's annual session, victors in a two-year struggle for authorization to jointly develop a casino to compete with an MGM casino under construction in Springfield. The House vote of 103 to 46 was surprisingly lopsided, exceeding the 2-1 margin last month in the Senate. A companion bill that helps the pari-mutuel industry by expanding the number of available off-track betting licenses from 18 to 24, passed on a closer vote of 77 to 72. It was drafted to attract some Democratic votes. With Gov. Dannel P. Malloy set to the sign the bill, MGM says its battle to keep a competitor off its doorstep now will shift to U.S. District Court, where the Las Vegas gaming giant will argue the legislature violated the Equal Protection and Commerce clauses of the Constitution by refusing to consider other suitors for the state's first commercial gaming license. "That's not a threat. That's a promise," said Uri Clinton, a senior vice president and legal counsel at MGM. The legislation authorizes the tribal owners of Foxwoods Resort and Mo- hegan Sun, two of the world's largest gaming resorts, to open a satellite casino off I-91 in East Windsor, a community of 12,000 between Hartford and Springfield that already has approved the project. – Mark Pazniokas | CT Mirror BANKING & FINANCE Angel investor tax credit bill headed to Malloy A bill that expands Connecticut's angel investor tax credit program to busi- nesses in any industry unanimously passed the Senate last week. Scheduled to go into effect July 1, if approved by the governor, House Bill 5583 would open up the program beyond already specified technology industries. Under current law, angel investors can only receive a 25 percent personal income tax credit if they invest in "emerging technology" companies, which includes bioscience, advanced materials, clean technology, photonics and infor- mation technology firms. The bill approved by the House and Senate would extend the angel investor tax credit to all industries. The amount of credits would remain capped at $3 million per year, and at least 75 percent would be reserved for emerging technology companies, ac- cording to the bill. To qualify, angel investments must be at least $25,000 and come from ac- credited investors. ECONOMIC DEVELOPMENT Hartford proposal selected for 'Innovation Places' funding A partnership between Hartford and East Hartford is one of four winning con- testants that will share in a $30 million money pool from the state's newly cre- ated "Innovation Places" program. CTNext, which is affiliated with quasi-public Connecticut Innovations, an- nounced the contest winners last week, following site visits to seven competing cities and regions. Hartford and East Hartford companies, nonprofits and other entities will focus on accelerator programs for insurance and medical technologies, as well as technical assistance and talent recruitment for aerospace manufacturers. Key partners include insurers, Trinity College, Hartford Hospital and others. CTNext said it could allocate nearly $7 million in the coming fiscal year to the four winners, which also includes New Haven, Stamford and a partnership between Groton and New London. Finalists that did not win include New Britain/Farmington/Berlin, Danbury and Norwalk. ENERGY & UTILITIES Malloy, Jepsen support Paris climate treaty ditched by Trump Connecticut Attorney General George Jepsen has joined with 18 other state attorneys general in signing an open letter supporting climate action for the Paris Climate Agreement abandoned recently by President Donald J. Trump. Trump said he believes the U.S. is disadvantaged by the treaty and would withdraw. Like Jepsen, Gov. Dannel P. Malloy also recently committed Connecticut to the United States Climate Alliance — a coalition of U.S. states that have decided to uphold the agreement and take aggressive action on climate change. Other participants in the alliance include California, Washington state and New York. The Jepsen letter — addressed to the international community — signals that those signing it will pursue climate goals and help ensure that the United States remains a global leader in reducing emissions. GOVERNMENT & POLITICS Analyses show concessions would save $24B over two decades The tentative concessions framework struck by Gov. Dannel P. Malloy and state employee union leaders would save $4.8 billion over the next five years and $24.1 billion over the next two decades, according to analyses prepared by the administration, Connecticut pension actuaries and its healthcare consultant. If the concessions deal is ratified, the $1.57 billion annual contribution to the state employees' pension would rise steadily and peak at just under $1.9 bil- lion in 2022. It would remain at that level through 2031, according to a pension analysis by Cavanaugh Macdonald Consulting of Kennesaw, Ga. That's $460 million less than the peak payment Connecticut otherwise would face based on the restructured pension schedule Malloy and unions agreed to back in January. Connecticut's worst-funded benefit program — retirement health care — would see its long-term, unfunded liability shrink by one-quarter dropping from $20.9 billion to $15.6 billion, according to an analysis prepared by Segal Consulting of Farmington. But the concessions plan still would commit Connecticut to offering workers a retirement healthcare benefit for which the state does not fully save. – Keith Phaneuf | CT Mirror LAW Total Wine minimum pricing case dismissed A federal judge has dismissed Total Wine & More's lawsuit over the state's mandatory minimum pricing laws, finding that federal antitrust laws cannot pre- empt the state law that establishes Connecticut's liquor pricing system. In her decision, U.S. District Court Judge Janet C. Hall, who heard the case in the Connecticut District, said that whether or not the regulatory scheme implemented by Connecticut is "wise" is not a question for the federal court. "Rather, the court can only be asked to determine whether the challenged provisions are preempted by federal law," she wrote. "Arguments as to the harm inflicted on consumers by this scheme are more appropriately directed to Con- necticut's executive and legislative branches of government." In August, Total Wine & More sued the heads of the Connecticut Department of Consumer Protection (DCP) and the Division of Liquor Control, alleging that a 1981 law that requires retailers to sell liquor products at a minimum price above wholesale costs violates federal antitrust laws. The law prevents Connecticut retailers from setting their own liquor prices. In a statement, Total Wine & More Co-owner David Trone alluded to continu- ing future battles with the state of Connecticut over its concerns. ADVERTISING, MEDIA & MARKETING News deal widens Hearst's CT footprint New York City-based news publisher Hearst has acquired the New Haven Register and its portfolio of daily and weekly newspapers from Digital First Me- dia for an undisclosed sum. The acquisitions pave the way for consolidation that is, according to Quin- nipiac University Journalism Professor Rich Hanley, part of a nationwide trend, and a move that significantly expands Hearst's Connecticut presence. The Journal Register Co. merged into Digital First Media in 2013 as a way to rebrand itself, Hanley said. The purchase includes dailies The Register Citizen of Torrington and the Mid- dletown Press, as well as Connecticut Magazine. Along with the weeklies and its current publications like the Connecticut Post in Bridgeport, Hanley says this gives Hearst a presence throughout the north- west, southwest and central regions of Connecticut. The scale could lead to the publisher establishing a larger presence in the state capital, he predicted. BY THE NUMBERS $24.1B The estimated savings that would be derived over two decades from the tentative concessions agreement struck by Gov. Dannel P. Malloy and state employee union leaders. 3 The number of new conditions the Connecticut Board of Physicians is recommending to be added to the state's medical marijuana program. 33 The number of stories Foxwoods' new "Highflyer Zipline" will extend above the Mashantucket Pequot tribe's reservation, from the top of Fox Tower to the Mashantucket Pequot Museum and Research Center. $60M The value of United Technologies Corp.'s recently debuted 185,000-square-foot innovation hub in East Hartford. TOP 5 MOST READ on HartfordBusiness.com ■ Aetna commits to 'mindful' workplace with new Hartford center ■ House votes for final approval of tribes' casino in East Windsor ■ CT considers five disorders for medical marijuana treatment ■ Foxwoods adding zipline to diversify offerings ■ $60M 'innovation hub' debuts at UTC research center 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 A rendering of the planned $300 million casino in East Windsor, to be developed by the operators of Mohegan Sun and Foxwoods. R E N D E R I N G | T E C T O N A R C H I T E C T S