Governor Malloy announced on Wednesday that a newly formed company - Sustainable Building Systems, Inc. - will establish its global headquarters in Connecticut with financial help from the state. The startup is expected to employ more than 400 people within four years.
The joint venture between Arizona-based Diverse Services Group and The Weeks Group of Australia will be headquartered in North Haven.
You’d think most entrepreneurs would follow the Facebook formula for success. Take an idea, bankroll it with venture capital, and float an initial public offering worth billions of dollars. But that’s not what every start-up wants. WNPR’s Sujata Srinivasan reports.
When it comes to inventing things, Connecticut still punches way above its weight. But sometimes the good ideas dreamed up here end up languishing on a shelf instead of making a difference in people’s lives. WNPR’s Harriet Jones reports on a new project that aims to find a home for orphan technologies.
The state has launched its new marketing campaign with the slogan – “Connecticut, Still Revolutionary.” The campaign is the result of a four-month project conducted by an outside consultancy.
The state will spend $27 million over two years marketing itself as a tourism destination – a far cry from the recent past, when Connecticut’s marketing budget was reduced to just one dollar. At a press conference to launch the new campaign, the state’s tourism director Randy Fiveash says surveys elsewhere in the country show that budget cut hurt Connecticut.
Most people wait till adulthood to discover their knack for business. But others tap into their entrepreneurial spirit before they even hold a drivers license. In the second of a two part series on young inventors, WNPR’s Sujata Srinivasan meets the teen entrepreneurs.
Unless Congress acts, interest rates on certain college loans are set to double this summer. WNPR looks at what that would mean for Connecticut students.
More than 84 thousand college and university students in Connecticut had subsidized Stafford student loans last year. Their interest rate was 3.4% thanks to the College Cost Reduction and Access Act which locked in a low rate for four years.
Last year the state legislature and Governor Dannel Malloy approved a controversial land swap deal in Haddam. Now, the developer who initiated the swap has now withdrawn from the deal.
Riverhouse Properties offered 87 acres of forest land in the Higganum section of Haddam in exchange for 17 acres of state owned open space along the Connecticut River. After years of resistance from environmentalists and town officials, the state okayed the land swap deal during the 2011 legislative session.
Connecticut is home to nearly a thousand U.S. subsidiaries of foreign companies. Names like Lego, UBS, RBS, and Nestle. WNPR’s Sujata Srinivasan reports on how insourcing – the growth of these companies here in Connecticut – plays a role in the state’s economy.
Get the latest on the economy, and protecting and growing your money. Tips from our financial analyst. Plus a look at the novel about a real life experiment, having college students raise babies from adoption centers. Learn how it changed the lives of the children and students.
Connecticut Innovations has a new chief executive officer in charge of a potential merger and a much larger investment portfolio. Claire Leonardi spoke to WNPR’s Sujata Srinivasan on how she plans to shake up the organization.
Claire Leonardi brings more than 30 years of experience in the financial services industry to her new job as CEO of Connecticut Innovations – or CI – a state-funded organization in Rocky Hill that invests in advanced technology ventures.
Connecticut’s angel investment tax credit appears to be working as new figures show increased funding for start-up companies. Less encouraging, venture capital investments, the next stage of funding required for a company to grow, declined statewide last year. WNPR’s Sujata Srinivasan reports.
The pullout of American troops in Iraq and those returning from Afghanistan have brought many service members back to their families and into the civilian job market.
While there is a new law that offers incentives to employers who hire them, many veterans across the country are trying to start their own businesses. A rigorous, free program started at Syracuse University is giving them the tools to be their own boss.
TicketNetwork has pulled out of Connecticut’s First Five economic development program. The news comes after the recent arrest of Don Vaccaro, CEO of the South Windsor-based company. Vaccaro has been charged with a hate crime and has taken an indefinite leave from TicketNetwork.
Meanwhile, Connecticut’s Department of Consumer Protection has just submitted to lawmakers its analysis of the ticket sales industry, and its view on a controversial proposal to change ticket sale laws in the state.
A version of this story aired on NPR's "All Things Considered" on February 29, 2012
A few months ago, WNPR reported on a unique training program for veterans at the University of Connecticut. A consortium of business schools run The Entreprenuership Bootcamp for Veterans with Disabilities, which teaches veterans to be their own boss.
As part of our Coming Home project, WNPR's Lucy Nalpathanchil follows up with an EBV grad who is now a small business-owner.
News this week that the book world will soon mark the end of an era. Roxanne Coady, doyenne of independent booksellers, is putting up the “for sale” sign on her creation, RJ Julia. The store has been a fixture in Madison for more than 20 years. WNPR’s Harriet Jones went to visit.
You only need walk in the front door at RJ Julia to know this is Roxanne Coady’s mission. Coady left a lucrative corporate career when she was turning 40 to begin this personal passion. Now 22 years later, she says it’s time to move on again.
The General Assembly reconvenes later this week for a session that looks to be jam-packed with issues. The state’s largest business organization says lawmakers will have a difficult balancing act. WNPR’s Harriet Jones reports.
The owner of Grote & Weigel says he’s still hopeful of finding a buyer for the troubled meat processing company. As WNPR’s Harriet Jones, the historic Bloomfield firm is due to shut its doors in less than two weeks.
The smokehouses at Grote & Weigel’s Bloomfield headquarters are still running, for now.
“We’re reaching a point where we’re running out of meat now and we’re running out of casings and all the other supplies we need to make the hotdogs.”
The end of January is gut-check time for anyone who’s made New Year’s resolutions. Many experts say top of the resolution list for small businesses should be a disaster recovery plan. After all, the incredible list of weather emergencies in Connecticut last year drove many businesses to the brink. WNPR’s Harriet Jones reports.
The November elections are shaping up to be largely about the issue of income inequality.
That’s especially if multi-millionaire investor Mitt Romney gets the Republican nomination - which seems increasingly likely. News of Romney’s tax rate - around 14% - coupled with outspoken statements from other uber-wealthy investors like Warren Buffett - who think they really should be paying more in taxes than those who work for them - have set up this battle.
The state of Connecticut has made its first loan under the small business express package. As WNPR’s Harriet Jones reports, it comes just days after questions were raised about the program’s paperwork problems.
Scott DeFelice CEO of Oxford Performance Materials shows Governor Dannel Malloy the new equipment his company has invested in since moving into this new South Windsor facility in August. Malloy is here because Oxford is the first company to get a loan under the state’s small business express package.
Last year’s jobs bill set aside $100 million as a loan pool to help small businesses grow and create jobs. It’s dubbed the Small Business Express Package, and applicants were promised a quick turnaround. State officials have been touring the state to explain the program to businesses that might benefit. But as WNPR’s Sujata Srinivasan reports, they have yet to finalize a loan.