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Report Identifies More Than $100 Billion in Offshore Wind Supply Chain Opportunities Over Next Decade

  • Special Initiative on Offshore Wind estimates $109 billion in business revenue opportunities by 2030 due to offshore wind development
  • Forecast is up substantially from 2019 expectations of $70 billion
  • Turbines and towers, foundations, cables, and substations account for bulk of supply chain opportunities
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Yelp Debuts Wallpaper Collection to Highlight, Benefit Small Businesses

  • Yelp launches initiative to support small business nonprofits through wallpaper sales
  • Partnership with home decor brand Chasing Paper creates designs featuring highly rated small businesses in three cities
  • Effort looks to build on increased interest in wallpaper installation
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Taking Advantage of Expanded Tax Benefits Available Through Charitable Donations

  • Deductions for charitable giving extended through the end of 2021
  • C corporations can qualify for deductions of up to 25 percent of their taxable income
  • Businesses must meet certain requirements, such as adequate recordkeeping, to qualify
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Abuse From Customers, Managers Prompting Many Restaurant Workers to Flee Industry

  • A majority of restaurant employees say they’ve endured emotional abuse and disrespect from customers, with nearly half saying they’ve experienced the same from their managers
  • The restaurant industry has seen an elevated quits rate, partly due to dissatisfaction with wages and working conditions
  • Two-thirds of respondents said they’d be willing to return to a restaurant job if it offered such amenities as more consistent scheduling and income
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Business News Roundup, Oct. 12, 2021

Opposition to the Biden administration's proposal for new banking rules, an accelerated return of office workers to in-person work, declining interest in warehouse work, and a resumed review of the Connecticut Port Authority are among the top business news items…

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Commerce Department: Climate Change Risks and Disruptions Likely to Drive Innovative Technology Growth

  • Commerce Department foresees economic disruptions due to climate change, but also an increased demand for innovation and sustainable technologies
  • Several agencies have issued climate actions plans to highlight and address climate change risks
  • Commerce Department sees procurement as an essential driver of developing climate resilience
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Elevated Stress and Health Concerns Among the Top Issues Driving the “Great Resignation”

  • Washington Post columnist identifies top reasons readers submit for resigning during COVID-19 pandemic
  • Employees most likely to be motivated by dissatisfaction with working conditions and employer’s failure to take pandemic seriously
  • Understaffing has sometimes ramped up on the pressure on workforces to meet goals
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Labor Shortages Remain at Record Levels, NFIB Says

  • 51 percent of respondents in NFIB’s latest jobs report say their business has job openings they haven’t been able to fill
  • 28 percent cite labor quality as their top concern, while 12 percent cite labor costs
  • Raising compensation is a common resource employers have to attract and retain workers, but also contributes to inflationary pressures
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Renewables Offer Efficiency Benefits, But Can Also Create “Rebound Effect” Where Consumers Use More Energy

  • Researchers find that residential energy users tend to use more power when they believe it derives from renewable energy sources
  • Similar “rebound effects” have been observed elsewhere, offsetting the efficiency benefits the technology is meant to provide
  • While the study says a shift to renewables is still helpful, policymakers should be aware of such rebound effects
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Business News Roundup, Oct. 11, 2021

Reactions to September's jobs report, airline cancellations and the debate over COVID-19 vaccine mandates, and challenges to Connecticut's restaurant industry are among the top business news items this morning. National In the face of a September jobs report that added…

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