An eviction moratorium extension, record credit availability, vaccine mandates, all of Connecticut reaches a substantial COVID-19 transmission risk level, and a key permit in a proposed offshore wind development are among the top business news items this morning.
National
The Centers for Disease Control has renewed a federal eviction moratorium through Oct. 3 in areas defined as having a substantial or high risk for COVID-19 transmission. The moratorium expired on Saturday, and the White House had been under pressure from Congress to extend it after the Biden administration deferred to a Supreme Court ruling saying congressional action would be necessary for such an extension.
Businesses currently have record levels of credit available but have not yet drawn upon it, raising the potential that they might use it in the near future for hiring, expansions, or other economic activity. JP Morgan Chase and Bank of America, the largest banks in the United States, held $1 trillion in unexpended capital at the end of June – a year-over-year-increase of 20 percent.
Business trends
In response to the spread of the COVID-19 Delta variant, several large companies have imposed vaccine mandates requiring employees to be vaccinated in order to return to the physical workplace. Some businesses have taken a less stringent approach, such as only requiring vaccination for certain workers.
Connecticut
The Connecticut Department of Public Health says Litchfield County has been designated as presenting a substantial risk for transmission of COVID-19, meaning it has experienced more than 50 cases per 100,000 residents over seven days. All eight counties now fall into this category, with the DPH strongly recommending that all residents, including vaccinated ones, resume using masks in indoor public spaces.
Orsted and Eversource have won a key permit from the Department of Energy and Environmental Protection for its proposed work at State Pier in New London, which will redevelop the site to support offshore wind operations. The permit allows the applicants to fill the space between the two piers and conduct other in-water work.
