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Almanac Briefs
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Business New Haven
11/15/1999
By: BNH
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Hull's Well That Ends Well
The boat-building firm that created America's Cup winner Stars & Stripes '87 is eyeing the neglected Bridgeport waterfront for a new facility. Based in Mamaroneck, N.Y. Derecktor Shipyards wants to build a $17 million high-tech facility on the site of the former Carpenter Technology steel plant property. It would employ some 200 skilled workers, according to published reports. The State Bond Commission authorized $3 million in site improvements, paving the way for the new facility. As part of its $17 million outlay, Derecktor is seeking a $7 million-plus loan from the Connecticut Development Authority.
Fleet Gets with the (SBA) Program
Fleet Bank announced in October that it had become the No. 1 U.S. Small Business Administration (SBA) lender in the Northeast region for the most recent SBA fiscal year, ending September 30. And although Fleet has few competitors in its precise seven-state service area (New England minus Vermont, plus New York and New Jersey), it did increase the number of SBA loans it wrote over the last two years in Connecticut. Fleet wrote 119 SBA loans worth $6.7 million during the most recent year, compared to 39 loans valued at $7.5 million during fiscal '98. The average SBA loan amount system-wide last year was $82,000.
Power to the People
A new advertising campaign aimed at educating Connecticut residents about electric utility deregulation made its debut November 5. The ads, by KGA Advertising of Middletown for the state's Department of Public Utility Control, will run on television, radio, in print and on billboards. They will feature talking animated electric plugs informing viewers about the changes as a result of electric deregulation. As of January 1, residents and businesses in "distressed" municipalities will be able to choose their electric supplier. On July 1 of next year, the remainder of the state will be able to participate. The ads will run until the latter part of 2000.
SBA Says DTC Is A-OK
The U.S. Small Business Administration's Region I (that's us) has named the New Haven-based Diversified Technology Consultants (DTC) its "Minority Small Business Firm of the Year." That's the second such award for DTC, which provides consulting on a national level to business and government in the fields of civil, mechanical, electrical and structural engineering, environmental sciences, planning and land surveying. DTC principals Murali Atlura and Leela Atlura accepted the award at a ceremony held during Minority Enterprise Development Week in Washington, D.C.
The Search Is On
Speaking of awards, the West Haven Chamber of Commerce is seeking nominations for its annual "Man and Woman of the Year" awards. Nominations will be accepted for businessmen and -women who "make the extra commitment to the community" of West Haven. For particulars, call 203-933-7786 or 203-933-3950. Meanwhile, up in the Brass City, the Greater Waterbury Chamber of Commerce is seeking nominations for its Harold Webster Smith Awards, which celebrate small-business success and ingenuity. Nominees for entrepreneur of the year, manufacturer of the year and small business of the year can be self-employed up to 50 employees. To learn more, call the GWCC at 203-757-0701.
Shoes for Industry
The Greater New Haven Chamber of Commerce reports that millions of dollars in tax credits and vouchers are still available to Connecticut corporations. Due to the state's budget surplus, constitutional spending cap and a need for affordable housing to attract and retain employees, several tax credit programs have been developed by the state. The deadline has been extended to December 31. For more information on the state's tax-credit programs, call the chamber at 203-782-4330.
A Very Nice Call Center
New Haven Savings Bank has opened a new full-service customer call center in its corporate headquarters at 195 Church Street in New Haven. The center will provide a fully-staffed point of contact for all business inquiries. For particulars, call the center toll free at 800-892-2096 or locally at 203-789-2767.
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