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Study Finds Connecticut A Fine Place To Do Business
Economist Klepper-Smith: “Some positives that are undeniable.”
DECD Commissioner Smith: We’re high value in many ways.”
CBIA’s Brennan: “We have amazing assets here.”
There has been no shortage of criticism of Connecticut’s business climate in recent years as the state recovers slowly from the Great Recession.
But a new study issued in December by the Council on State Taxation concludes Connecticut actually is tied for the most favorable business climate — if one considers not just the cost of doing business, but the potential for earning big profits here.
And while the report has its supporters and critics, it shows the task of evaluating Connecticut’s readiness to do business is not simple.
Who’s Your Data?
HARTFORD: New search capabilities of the state’s business formation database have been made available through a partnership with the Connecticut Secretary of State’s office and the Connecticut Data Collaborative. Searching is more flexible than the secretary’s official CONCORD System. The new database doesn’t include all the information found on Concord, such as shareholder information but users can search by town or date, and type of formation, [ LLC, Corp., Foreign etc.], sole proprietorships are not currently in the database, in the Concord system the business name or ID is required.
A quick search showed more than 424,000 active and inactive business records and 824 new business formations in the city of New Haven in the past year, 38 used New Haven in their name itself. The website can be reached at searchctbusiness.ctdata.org
HARTFORD: Connecticut has joined a $19.5-million multi-state settlement with drug maker Bristol-Myers Squibb [NYSE: BMY] based in New York to resolve allegations that the company improperly marketed the antipsychotic drug Abilify.
A joint release by Attorney General George Jepsen and state Department of Consumer Protection (DCP) Commissioner Jonathan A. Harris announced the Connecticut’s share of the settlement funds is $310,133.
Of those settlement funds, $15,000 will be deposited in DCP’s Consumer Protection Fund and $15,000 will be deposited in the attorney general’s Consumer Protection Fund; both funds are used by the respective agencies to support investigations, training and consumer outreach efforts. The remaining settlement funds will be deposited in the state’s general fund.
Abilify is the brand name for the prescription drug aripiprazole, which was originally approved by the U.S. Food and Drug Administration (FDA) in 2002 for the treatment of schizophrenia in adults.
Danbury Mayor Is Latest To Explore Gubernatorial Run
One thing Danbury Mayor Mark Boughton has learned in two prior runs for governor: You can’t begin too soon to start raising the $250,000 in individual contributions of no more than $100 to qualify for public financing of about $6.5 million.
Boughton, who failed in 2010 and 2014 to hit $250,000, has created an exploratory committee and launched a fundraising web site: the Connecticut Comeback Committee.
State Comptroller Kevin P. Lembo found a few rays of sunshine Thursday in Connecticut’s otherwise gloomy fiscal picture.
One day after analysts briefed the legislature’s budget panels on surging retirement benefit and other debt costs that could imperil state finances through the early-to-mid 2030s, Lembo peppered his monthly budget forecast with “positive economic indicators that are worth highlighting.”
But after projecting a relatively modest $82.3 million deficit in the current budget, he also acknowledged that even the good news hinges on volatile conditions that may or may not improve Connecticut’s outlook in the coming months.
Here are those highlights:
Based on data through October, state income tax receipts tied to paycheck withholding — the single-largest source of state revenue — are up 1.5 percent over last fiscal year.
NEW HAVEN: The Connecticut Department of Veterans Affairs, Vietnam Veterans of America, the VVA Connecticut State Council and the Veterans Legal Services Clinic at Yale launched a first-in-nation program for veterans. Connecticut veterans with “bad paper” discharges are provided new and helpful opportunities to seek discharge upgrades and to connect them with resources to help during the process.
“Bad paper discharges have a terrible impact on veterans’ lives,” said Tom Berger of VVA. “Without upgrades, veterans are barred from the federal benefits they earned through their service, including disability compensation, health care and education, and face barriers to private employment and a lifetime stigma due to their military record.”
Any veterans with below “honorable” discharges can go after discharge upgrades in order to access benefits through administrative boards at the Department of Defense. This process has recently been improved for veterans struggling with post-traumatic stress disorder.
According to advocates for veterans the boards have previously been hostile to post-traumatic stress-based applications and were denied on a “near-categorical basis.” In 2014 then-Secretary of Defense Chuck Hagel highly encouraged boards to give a stronger upgrade consideration to post-traumatic stress evidence that led to veterans’ bad paper discharges.
Through these groups and their collaborative effort, the DVA has mailed out detailed notices to more than 1,000 Connecticut Veterans informing them on how to take advantage of this new program.
Any additional information and resources about the discharge process are available at: CTLawHelp.org/dischargeupgrades.
New Haven Magazine