Hartford Business Journal

4 Hartford Business Journal • March 19, 2018 • www.HartfordBusiness.com Week in Review Briefs Malloy: Traffic gridlock killing NY-CT job migration Business owners and executives, who have mixed feelings about the push for Connecticut highway tolls, received a hard sell from Gov. Dannel P. Malloy. During his final visit as governor to the Connecticut Business & Industry Association's annual business day event March 14 at the Capitol, Malloy talked up Connecticut's investments in companies and job creation during his tenure, as well as the state's growth in manufacturing jobs in 2017. But he soon transitioned to tolls, saying Connecticut needs to raise additional revenue to support roads and bridge projects, charging that anyone who claims the state can fix its transportation system without doing so "is simply lying to you." Part of the reason Connecticut gets unfavorable comparisons to places like Boston and New York, the governor said, is that those cities have invested billions in major infrastructure projects. Meanwhile, he called Connecticut's Wilbur Cross Highway "a museum" and I-95 a "parking lot." Aetna, CVS shareholders approve $69B deal Hartford health insurer Aetna and CVS Health said that shareholders have approved their proposed $69 billion combination. Both companies said they held special shareholder votes March 13, which led to overwhelming support for the deal. CVS is acquiring Aetna, but has promised to maintain the health insurer's Hartford presence. Before the deal is finalized, however, Aetna and CVS still need key regulatory approvals, including the federal government's blessing. The companies said they hope to complete their deal in the second half of 2018. UHart, UConn collab on insurtech courses Hartford has recently upped its efforts at becoming a hub for insurance technology, and now two of the city's colleges are working together to craft undergraduate and graduate insurtech curricula. The University of Hartford's Barney School of Business and UConn say they won a $50,000 grant from the Spencer Educational Foundation to develop an MBA-level insurtech course, which will debut at UConn in August. UHart students will be able to take the class at UConn's downtown Hartford business school campus. In 2019, both schools plan to launch their own undergraduate "insurtech concepts and applications" course. The University of Hartford said the course would be part of its insurance and risk management major and minor programs within the business school. In drafting curriculum, the two schools said they are working with Hartford's recently launched StartupBootcamp accelerator. TOP STORY Global IT giant Infosys to bring 1,000 jobs to Hartford W ith the help of up to $14 million in state grants, India-based information technology and outsourcing provider Infosys said it will open a facility in Hartford that will employ 1,000 people within the next five years, Gov. Dannel P. Malloy announced. The exact location of the $20.6 million project has not yet been revealed, but Infosys said Hartford will be one of a handful of U.S. "technology and innovation hubs" the company announced last year. Infosys said it will focus on three key sectors — insurance, health care and manufacturing. "This investment will further strengthen our ability to serve clients' needs throughout the New England region and expand the local workforce to help our clients compete in the rapidly digitizing insurance, health care and manufacturing sector," Infosys President Ravi Kumar said. "Hartford's position as the Insurance Capital of the World, paired with Connecticut's world-renowned academic institutions, will place Infosys in close proximity to valued clients and accelerate the recruitment of highly skilled local talent." At a press conference, Kumar said Department of Economic and Community Development Commissioner Catherine Smith and a group of major business leaders — including Hartford HealthCare CEO Elliot Joseph, Stanley Black & Decker CEO Jim Loree and Mark Boxer, global chief information officer at Cigna — helped make the case for the city. DECD said it will provide up to $12 million in grants, depending on job milestones. Infosys will use that money for computer and office equipment and leasehold improvements. The company will receive another $2 million in training grants. BY THE NUMBERS $50M The amount spent by Connecticut- based companies, nonprofits, cities and universities in 2017 to lobby Con- gress and the Trump administration, according to the CT Mirror. 3,700 The number of jobs Connecticut employers added in January, mainly in the retail, trade/transportation/utili- ties, and professional and business services industries. $20.6M The price tag of information technol- ogy provider Infosys' planned expan- sion in Hartford, where it says it will add 1,000 jobs over five years. 97% The percentage of Aetna shareholders who voted and approved the health insurer's merger with CVS Health. TOP 5 MOST READ On HartfordBusiness.com • 1. Global IT giant Infosys to bring 1,000 jobs to Hartford • 2. East Hartford outlet mall officially dead • 3. Malloy: Traffic gridlock killing NY-CT job migration • 4. UnitedHealth Group names new Optum CEO in shakeup • 5. Bronin pledges fiscal discipline, stable future for Hartford 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 Health Care Weekly www.HartfordBusiness.com/ subscribe Hartford, thanks to help from the Malloy administration, landed 1,000 Infosys jobs. PHOTO | HBJ FILE Students at UConn's downtown Hartford business school campus. PHOTO | CONTRIBUTED

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