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December 5, 2022Edition

🔒Here’s how West Hartford’s Fairview Capital landed a $50M investment from billionaire Steve Ballmer

The Ballmer Group — a philanthropic organization led by Steve Ballmer, the 10th wealthiest person in the world, and his wife, Connie — recently committed $400 million to Black investment managers and Black businesses, with the goal of increasing capital to underserved markets.

🔒Hartford HealthCare’s new downtown HQ focuses on innovation

Hartford HealthCare’s new 110,000-square-foot headquarters at 100 Pearl St. “will be a model for healthcare transformation in this country,” said President and CEO Jeffrey Flaks.

🔒3 stages of a company’s growth

Understanding what stage or life cycle a company is in is important because it provides context and clarity. Knowing where you are helps leaders focus on the activities that will drive growth and sustainability.

🔒Afghanistan native Hemat aims to diversify Wadsworth Atheneum’s collection, customer base

Diversity has become a major focus for most arts institutions in Connecticut and throughout the country as museums, theaters and other organizations invest in outreach efforts to attract a broader, younger and more ethnic audience.
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🔒As traditional fundraising model weakens, nonprofits pursue for-profit ventures to diversify revenues

Fundraising for nonprofits has always been an uphill battle, but this past year Channel 3 Kids Camp faced particular difficulties and recently announced the need to seek buyers or new partners to remain open.

🔒Heightened unionization activity creates challenges for CT employers

Just in the last two months, Anthony Lepore’s school bus union has announced organizing three more bus yard teams – bus monitors and mechanics at First Student in Manchester, and monitors and drivers at the same company’s New Britain operation. Overall, the Teamsters now represent some 2,300 school bus workers in the state, at 42 different locations – about a quarter of the total workforce.

🔒Cannabis companies ramp up recruitment efforts as recreational industry prepares launch

Connecticut’s cannabis industry could account for more than 10,000 jobs just a few years after the recreational market launches, according to a recent study, and companies are already ramping up hiring efforts ahead of the first adult-use sales in the state.

🔒UConn’s new Championship Labs helps students monetize NIL, following recent rule change

Following a revision to NCAA regulations last year and a change in state law that went into effect July 1, student-athletes can capitalize on their personal brand, using social media, sponsorships and other means to build a business based on their collegiate athletic pursuits.
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🔒Thomaston Savings, other small banks join tech consortium to compete on digital products, services

Facing competition from fast-innovating financial technology companies and deep-pocketed national banks, Thomaston Savings Bank recently joined a consortium that aims to keep its nearly 80 members on the cutting edge.

🔒$739B U.S. Inflation Reduction Act sweetens green tech in apartment developments and houses

Acclaimed architect and builder Bruce Becker packed a lot of green technology into his redevelopment of the former Bank of America building.

🔒Development projects sprout up along Cheshire’s Highland Avenue

A new day care center is sprouting up on one of the last vacant lots on Highland Avenue in Cheshire’s town center.

🔒CT startup aims to address welder shortage with robotic automation

A Connecticut startup is developing software that can help humans more easily program complex robots to perform welding tasks, in an effort to help mitigate workforce shortages plaguing manufacturers and other industries across the country.
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ConnectiCare to exit CT’s fully insured small group market

Connecticut’s small group fully insured health insurance market is losing its second major insurer this year.

Glastonbury’s Shops at Somerset Square sold to Tennessee development company  

The 115,000-square-foot lifestyle shopping center last traded hands in 2016. The new buyer bought it at a discount.

Massive Bristol industrial property sells for $79.25M; future development eyed

It’s likely to be one of the largest Greater Hartford commercial real estate deals of the year. 
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