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U.S. Manufacturing Index Shows Strong Growth in February

  • Manufacturing index reflects strongest activity in two years
  • Sixteen out of 18 manufacturing industries see growth in February
  • Sector continues to face certain headwinds, such as supply chain disruptions and challenges in finding qualified workers
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CEDF Entrepreneur Program Includes $10,000 Pitch Competition

  • Community Economic Development Fund launches flexible study program to assist entrepreneurs with starting and managing a business
  • Those who successfully complete the course earn a change to submit a pitch and win a $10,000 award from Citizens Bank
  • Program is accessible through May 15
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UConn School of Business to Introduce Online MBA Program This Fall

  • University of Connecticut will begin accepting applications for its online MBA program this month
  • Forty students will be accepted for inaugural program set to begin in August
  • Three-year program offers education in one of four concentrations
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Offshore Wind Procurement Would Boost New London Revenue Share Under Host Community Agreement

  • Host Community Agreement signed between New London, Ørsted, and Eversource
  • City stands to gain more revenue if Connecticut procures energy from offshore wind projects planned by Ørsted and Eversource
  • Agreement resolves disputes over the redevelopment of New London’s State Pier to support offshore wind developments
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Business News Roundup, March 1, 2021

The House of Representatives has approved a massive economic stimulus bill, and the Biden administration is prepping for its next economic initiative of improving U.S. infrastructure. A proposed minimum wage hike to $15 an hour is unlikely to be included…

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Labor Department Expands Unemployment Eligibility to Workers Who Decline Job Offer Out of Safety Concerns

  • Department of Labor expands eligibility for Pandemic Unemployment Assistance
  • Workers who decline to accept a job due to concerns over an employers’ failure to abide by COVID-19 safety protocols can now collect benefits under the program
  • Eligibility also expands to certain school employees and workers who lost their job or had their hours reduced as a direct result of the pandemic
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Sharing the Financials, and Teaching the Economics, to Better Connect With Employees

  • The pros and cons of using “open book management”
  • Sharing financial information with employees can lead to better productivity and job satisfaction, but carries some risks as well
  • Tie the financials to the economics to ensure that you don’t lose focus on day-to-day operations
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SBA Mapping Tool Helps Businesses Determine if They Qualify for Targeted EIDL Advance

  • Mapping tool developed for the U.S. Small Business Administration helps businesses determine whether they are located in a low-income community
  • This designation is required to qualify for grants under the Targeted EIDL Advance Program
  • Applicants must also meet other criteria to qualify for aid
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Connecticut Expecting 30,000 Johnson & Johnson COVID-19 Vaccine Doses Next Week If Approval Granted

  • Governor Ned Lamont says Connecticut is slated to receive 30,000 doses of Johnson & Johnson’s COVID-19 vaccine next week if it receives emergency authorization from the FDA
  • Approval would introduce a third vaccine, and the first one to require only one dose to be effective
  • More than 300,000 Connecticut residents have been fully vaccinated against the virus
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