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As state pivots economic development strategy, focus shifts from corporate handouts to public-private partnerships

On the sweltering morning of July 13, Gov. Ned Lamont stood outside an abandoned and boarded-up apartment building off the northern tip of downtown Hartford to tout a $6.3 million state grant for a 43-unit, mixed-use apartment development. A private developer and local nonprofit have partnered to cover the remaining $17.5 million cost. Lamont used the occasion to juxtapose this approach from past state efforts.
New Haven United States Alexandra Daum Ned Lamont Neil Oleary David Lehman

Commercial lenders aren't sweating rate hikes – at least not yet

Community bank leaders say commercial loan demand remains strong despite recent hikes in the Federal Reserve’s benchmark interest rate. The blitz on home loans and refinancings, however, is coming to a close. Ion Bank President and CEO David J. Rotatori said interest rates remain historically low and that builders and other commercial borrowers have “plenty of room to maintain profitability.” “A lot of them have refinanced already, so they are all in a relatively strong condition, and th...
University Of Connecticut United States Jerome Powell George Hermann Nathan Oldham John Carusone

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