A new federal holiday, train on the SBA, recreational marijuana legalization in Connecticut, and a donation from offshore wind partners are among the top business news items this morning.
National
Some employees are getting an unexpected day off today after President Joe Biden signed a bill recognizing Juneteenth as a federal holiday. The June 19 holiday celebrates the emancipation of slaves following the Civil War.
Business trends
A Wall Street Journal feature analyzes the stresses the U.S. Small Business Administration has faced during the COVID-19 pandemic. The SBA was previously responsible for services such as guaranteeing small business loans, but its portfolio increased fivefold as it took charge of several federal relief programs, with some borrowers complaining of delays and other problems.
Connecticut
Governor Ned Lamont has indicated that he will sign legislation legalizing recreational marijuana use and regulating its sale after the measure passed the Connecticut Senate in a 16-11 vote. The legislation also takes steps such as training police officers on the latest techniques to recognize impaired driving and expunging certain cannabis-related criminal records.
Ørsted and Eversource, who are partnering on several offshore wind developments and spearheading an effort to convert New London’s State Pier into an offshore wind hub, have donated $950,000 to Project Oceanology. The funding will support the organization’s K-12 educational programs, with a specific focus on topics like climate change and clean energy.
