A lack of restrictions in response to a new COVID-19 variant, minimal market impact from this variant, troubles facing Connecticut cannabis entrepreneurs, and the development of an innovative new business district in Hartford are among the top business news items this morning.
National
Dr. Anthony Fauci, the top COVID-19 adviser to the Biden administration, says President Joe Biden will encourage Americans to get vaccinated (including vaccine boosters) in response to the COVID-19 Omicron variant instead of recommending new restrictions. The response would be milder than that of several other nations, which have imposed stricter lockdowns, although a travel ban on eight nations where the variant has emerged becomes effective today.
Business trends
Market trends suggest that disruptions caused by new COVID-19 variants are getting shorter and milder. The emergence of the new Omicron variant of the virus in several countries is raising concerns, but the resulted in only a brief impact on the stock market.
Connecticut
Connecticut entrepreneurs seeking to enter the emerging recreational cannabis market are encountering a common problem: the disconnect between state and federal marijuana laws. This has made entrepreneurs ineligible for certain aid such as mentoring programs.
An effort in Hartford is looking to transform the Parkville district, a former manufacturing hub, into an innovative new business environment. The redevelopment seeks to provide spaces for startups and early-stage companies as well as residential and commercial space.
