A Treasury address on the racial wealth divide, incentives to boost office tenancy, the growth of mobile apps for office operations, and concerns that recreational marijuana demand may outstrip supply in Connecticut are among the top business news items this morning.
National
In a Martin Luther King Jr. Day address, Treasury Secretary Janet Yellen said there is “much more work Treasury needs to do to narrow the racial wealth divide.” Citing discriminatory practices that held back Black Americans from economic opportunities, Yellen also brought up current Treasury initiatives such as greater investments in community development financial institutions to help address the wealth gap.
Business trends
Incentives offered by landlords are helping accelerate the recovery of office leasing. Businesses are taking advantage of incentives such as cash gifts and months of free rent.
Mobile apps have also gained popularity as a way of addressing workers’ concerns about a variety of office issues. These apps can be used for purposes such as monitoring workspaces, issuing safety alerts, requesting maintenance, or reserving a conference room.
Connecticut
Connecticut’s licensure schedule for recreational marijuana businesses is raising concerns that demand for cannabis could outstrip supply at the outset. License applications will be accepted for retailers before cultivators, and initial supply will come from existing medical marijuana cultivators.
