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Business News Roundup, July 16, 2021

A boycott of an SBA nominee, a call for greater investment in caregiving, increasing demand for retail and vehicles, and cybersecurity liability protections for Connecticut businesses are among the top business news items this morning. National Democrats on the Senate…

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Fed’s Latest Beige Book Reflects Ongoing Labor and Price Pressures, Improving Office Leasing

  • Federal Reserve’s Beige Book for the early summer shows strong jobs growth and labor demand as well as above-average price growth
  • In the Northeast, signals point to stronger tourism demand as well as modest improvements in office leasing
  • Supply chain constraints continue to cause problems for companies and contribute to price pressures
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Connecticut Unemployment Rate Drops to 7.9 Percent as 3,500 Jobs Added

  • Connecticut adds 3,500 jobs in June as strong growth in government positions balances a loss of positions in the private sector
  • Unemployment rate falls to 7.9 percent but remains above national rate
  • Connecticut has recovered less than two-thirds of the jobs lost at the outset of the COVID-19 pandemic, but some sectors are faring better
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House Members Look to Improve on SBA’s Innovation Initiatives

  • House subcommittee focuses on current innovation initiatives of the U.S. Small Business Administration
  • Members look for opportunities for federal investments and improved diversity in the innovation space
  • Those testifying note the importance of initiatives that can support early-stage, pre-revenue companies that can’t take advantage of traditional SBA programs
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In Opposing Biden Tax Hikes, U.S. Chamber of Commerce Claims They Would Impact Nearly 15,000 Connecticut Small Businesses

  • U.S. Chamber of Commerce offers state-by-state analysis of potential impact of White House tax increases on small businesses
  • Organization says increasing the corporate tax rate and other tax changes would negatively impact 1.4 million companies with fewer than 500 employees
  • In Connecticut, the U.S. Chamber says the changes would affect an estimated 14,804 of the state’s 655,653 small businesses
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Business News Roundup, July 15, 2021

Higher than expected inflation, falling jobless claims, expanded remote work options, lagging renewable implementation, digital health investments, an extension of emergency powers in Connecticut, and lower taxes for Connecticut beer are among the top business news items this morning. National…

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Connecticut Main Street Center: Arts Investment Key to Vibrant Cities

  • Connecticut Main Street Center says arts and cultural organizations, which were hit hard by the COVID-19 pandemic, were more likely to endure pandemic conditions if their community had pre-existing support structure in place
  • A blog post offers tips on how cities and towns can support their arts and cultural organizations moving forward
  • The Connecticut Arts Alliance has advocated that municipalities dedicate 1 percent of their American Rescue Plan funds to supporting arts and cultural organizations in their community
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Thames River Innovation Place Seeking RFPs Through Aug. 13

  • Thames River Innovation Place has opened up its latest request for proposals
  • Funding will be available for projects slated to start Nov. 1
  • Priority will be given to initiatives supporting the Blue Tech economy of southeastern Connecticut
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CCAT, Renishaw Partner to Assist Businesses with Advanced Manufacturing Technologies

  • Connecticut Center for Advanced Technologies announces partnership with global engineering technologies company Renishaw
  • Renishaw has provided a variety of equipment to CCAT’s applied technology demonstration and training center
  • The center is used to validate advanced technologies, bring them into the global manufacturing supply chain, and support workforce development
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