Hartford Business Journal

4 Hartford Business Journal • October 30, 2017 • www.HartfordBusiness.com Briefs Finally, a budget agreement is reached State legislative leaders finally agreed to a bipartisan, $41.3 billion budget that aimed to end a nearly 17-week budget impasse. The two-year spending plan, which aims to close huge deficits without raising income or sales tax rates, imposes modest cuts on local aid, and provides emergency assistance to keep Hartford out of bankruptcy. Gov. Dannel P. Malloy needs to approve the budget, which relies on tax and fee hikes worth roughly $500 million per year for the biennium. It also would raid more $175 million from energy conservation funds — which largely are supported by surcharges on consumers' utility bills — and would offer Connecticut's seventh amnesty program for tax delinquents since 1990. The bipartisan deal cuts deeply into operating funds for the University of Connecticut — but not as severely as a Republican-crafted budget would have one month ago. But it does not rely on shifting a portion of skyrocketing teacher pension contributions onto cities and towns. — CT Mirror Task force unites CT's 'cybercops' Local, state and federal law enforcement agencies in Connecticut said they have teamed to form the state's first cybersecurity investigations and prosecutions task force to rein in a crime that costs Americans hundreds of millions in losses annually. Outgoing Connecticut U.S. Attorney Deirdre M. Daly and representatives of federal, state and local law enforcement announced the formation of the Connecticut Cyber Task Force to investigate complex crimes in cyberspace. The unit is based in New Haven. The task force includes the FBI, Drug Enforcement Administration, U.S. Secret Service, U.S. Postal Inspection Service, Homeland Security Investigations, Internal Revenue Service — Criminal Investigation, Defense Criminal Investigative Service and Connecticut State Police. Also members are 11 Connecticut police departments: Hartford, Bridgeport, Bristol, Fairfield, Greenwich, New Canaan, New London, Norwalk, Stamford, Torrington and Westport. Connecticut last year installed Arthur House as its first cybersecurity czar. Daly, whose last day as Connecticut's top Justice Department prosecutor was Oct. 27, said American companies and consumers have lost an estimated $1.6 billion to cybercriminals in the last four years. Poll: Personal-, state-budget angst roils CT residents Connecticut residents are fearful about the state's fiscal crisis and are open to tolls and legalized marijuana to generate revenue. But many also are worried enough about their own personal finances to consider moving out, a new poll finds. One in three residents (30.3 percent) surveyed in early October by Sacred Heart University's Institute for Public Policy believes Connecticut's overall quality of life is "declining.'' Three in four (76.4 percent) of the 1,000 state residents polled agree the state should offer more tax credits and rebates and other incentives to retain and attract businesses. Most (84.4 percent) believe that towns should merge and consolidate public services to help cut costs. Also, more than three out of five respondents are finding it "very" or "somewhat difficult" to maintain their standard of living. Nearly half of respondents making more than $150,000 per year reported they are considering moving out of Connecticut within the next five years. Hartford lengthening parking-meter times Hartford's parking agency said city motorists soon will be allowed extended meter time, starting with the city's two hospital zones. Hartford Parking Authority (HPA) CEO Eric Boone said the agency in the weeks ahead will convert some of its current two-hour metered zones to 10-hour metered zones. The converted zones will allow for more flexibility in underused areas of metered parking. The conversion, Boone said, will begin with city parking around St. Francis Hospital & Medical Center and Hartford Hospital. Once the hospital zones are completed, HPA will focus on converting a limited number of downtown two-hour metered zones to 10-hour zones, to benefit retailers' customers and employees, Boone said. Hartford region's exports rise 3 percent to $10.4B The Greater Hartford area exported $10.4 billion worth of products last year, a 3 percent gain over 2015, ranking the region 27th nationally, according to data provided by the U.S. Department of Commerce's International Trade Administration office in Middletown. The region's export value has grown 49 percent since 2006, or an average of 4.1 Week in Review TOP STORY XL Center slated for $40M; headed to sales block H artford's XL Center got mixed treatment in the $41.3 billion budget negotiated by Republican and Democratic leadership. The budget provides $40 million in bonded funds to renovate the XL Center, but also requires the city of Hartford to put the aging building up for sale, budget documents show. The goal would be to sell it to a private developer. A request for proposals must go out no later than June 30, 2019, budget documents show. Officials have said previously that it would be difficult to find a buyer for the more than four-decade-old arena, which has consistently lost money in recent years and faces intense competition for events from the two Connecticut casinos. The opening of the Springfield MGM Casino in 2018, will only add to the competition. The one-year, $40 million investment is far less than the two-year, $125 million Gov. Dannel P. Malloy previously called for, and the $115 million that existed in previous budget plans. The budget also eliminates the 10 percent admissions tax exemption for events at the XL Center and Dunkin' Donuts Park in Hartford along with Webster Bank Arena in Bridgeport and New Britain Stadium. BY THE NUMBERS $41.3B The total spending allocated in the two-year state budget negotiated by Democratic and Republican leadership in the General Assembly. $175M The amount of money lawmakers plan to raid from energy conservation programs in order to balance the state budget. 49.5% The percentage of Connecticut resi- dents making more than $150,000 per year who say they are considering moving out of Connecticut within the next five years, due to the state's fiscal and economic problems. $8 The proposed one-way fare between Hartford and New Haven on the new CTrail Hartford Line opening in May. TOP 5 MOST READ On HartfordBusiness.com • 1. Southington is Fazoli's first CT site • 2. Poll: Personal-, state-budget angst roils CT residents • 3. The Stag buying Aetna's group life, disability unit • 4. CTDOT releases proposed fares for new Hartford rail line • 5. Task force unites CT's 'cybercops' 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 Linkedln: 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 The XL Center is slated for a $40 million face-lift. It could also be sold to a private entity. PHOTO | HBJ FILE A downtown Hartford parking kiosk. PHOTO | CONTRIBUTED

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