Naugatuck

Banks remain bullish on apartments even as they keep closer eye on exposure risks

Some Connecticut lenders are scaling back new apartment deals amid concerns about concentration risk after multifamily loans more than doubled as a share of banks' overall portfolios over the past six years.

🔒Rival lenders target Webster customers as Santander deal unfolds

Connecticut banks and credit unions are moving quickly to capitalize on customer uncertainty surrounding Banco Santander's $12.3 billion acquisition of Webster Financial, deploying targeted marketing campaigns aimed at luring away customers rattled by the deal.

🔒After decades of growth, Wolcott fastener manufacturer adds new facility in $4M expansion

The longtime partners, who bought the rivet maker in 1997 when it had seven employees and one customer, are investing $4 million in a new Wolcott facility as the company continues to expand its precision fastener business across multiple industries.

🔒CT auto dealer challenges state sales tax on warranties sold to out-of-state buyers

A used car dealership in Naugatuck is challenging a Connecticut sales tax assessment in a case that...
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🔒Cloud Co.-Pennrose partnership reshapes affordable housing across CT

Hartford’s The Cloud Co., with just three employees, has partnered with Pennrose to create 599 apartments across Connecticut over 13 years. Another 240 units are under construction.

🔒CT community bankers back $10M FDIC insurance limit proposal to compete with larger rivals

Connecticut community bankers back bipartisan push to raise FDIC insurance cap from $250K to $10M for business accounts, saying it would level the playing field with big banks viewed as too big to fail.

Naugatuck begins $80M mixed-use project aimed at revitalizing downtown

Pennrose and Hartford-based The Cloud Co. kicked off construction on the first of three 60-unit buildings.

🔒New London’s $300M State Pier faces legal fights, federal pushback and uncertainty — could short-sea shipping be in its future?

New London's State Pier, built for offshore wind at $300M+, may pivot to short-sea shipping after Trump admin stop-work order on Ørsted's Revolution Wind project.
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🔒DOT to convert part of former Republican-American building into train waiting area

After years of planning, Waterbury’s Union Station – the former home of the Republican-American newspaper – will reprise its role as a train station, albeit on a smaller scale.

Business organizations urge Lamont to veto ‘striking workers’ bill

A group of 20 state business organizations on Thursday sent a letter to Gov. Ned Lamont urging...
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