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October 16, 2017: Cbia Service Corporation: MEDIA ADVISORY: Hartford-New Haven-Springfield Business Survey Results Released 10.18.17

NEWS BITES - PRIVATE COMPANIES

The Greater Hartford, New Haven, and Springfield metro areas represent one of the highest-potential economic growth regions in the nation-but what's holding it back?

Pete Gioia, CBIA vice president and economist, announces the results of the 2017 Hartford-New Haven-Springfield Business Survey on Wednesday, October 18 at the 2017 State of the Union Conference in Springfield, Massachusetts.

2017 State of the Union Conference Wednesday, October 18, 7:30 am-12 pm Springfield's Renovated Union Station (55 Frank B. Murray Street, Springfield)

Gioia delivers the results at 9:15 am. The biennial survey covers a variety of regional business issues including economic conditions, growth prospects, transportation concerns, workforce development challenges, and more.

Gioia will be available to discuss the survey results prior to his presentation. To arrange a pre-speech interview at the event, please contact Meaghan MacDonald (860.244.1957 or 860.910.8194).

INDEX

SECTION 1 CBIA SERVICE CORPORATION PROFILE

SECTION 2 PRESS RELEASES: 2017

SECTION 3 OTHER NEWS: 2017

SECTION 1 CBIA SERVICE CORPORATION PROFILE

1.1 ACTIVITIES

Operates As A Medical Insurance Association. Operates A Professional Membership Organization.

1.2 SUMMARY

Website: http://www.cbia.com

Industry: Healthcare Services

SECTION 2 PRESS RELEASES: 2017

October 16: Cbia Service Corporation: MEDIA ADVISORY: Hartford-New Haven-Springfield Business Survey Results Released 10.18.17

The Greater Hartford, New Haven, and Springfield metro areas represent one of the highest-potential economic growth regions in the nation-but what's holding it back?

Pete Gioia, CBIA vice president and economist, announces the results of the 2017 Hartford-New Haven-Springfield Business Survey on Wednesday, October 18 at the 2017 State of the Union Conference in Springfield, Massachusetts.

2017 State of the Union Conference Wednesday, October 18, 7:30 am-12 pm Springfield's Renovated Union Station (55 Frank B. Murray Street, Springfield)

Gioia delivers the results at 9:15 am. The biennial survey covers a variety of regional business issues including economic conditions, growth prospects, transportation concerns, workforce development challenges, and more.

Gioia will be available to discuss the survey results prior to his presentation. To arrange a pre-speech interview at the event, please contact Meaghan MacDonald (860.244.1957 or 860.910.8194).

Source: Company Website

June 16: Cbia Service Corporation: Lack of Technical Skills Biggest Barrier to Meeting Increased Demand for Energy Workers

With rising national attention on energy efficiency, renewable energy, and other energy solutions, businesses in Connecticut are seeing an increased demand for qualified workers in the energy sector, according to a survey released today.

The 2017 Survey of Energy & Energy Efficiency Workforce Needs was commissioned by the Connecticut Department of Energy and Environmental Protection and developed in collaboration with the CBIA Education & Workforce Partnership.

The survey was designed to better understand Connecticut's energy workforce and to help businesses better target, develop, and retain qualified workers, particularly in entry-level positions.

Currently, there are 63,000 jobs in the energy industry at 5,600 businesses in Connecticut.

The largest share of these employees work in high efficiency HVAC and renewable heating and cooling firms, followed by traditional HVAC. And this number is rising, with employers planning to increase hiring over the next five years.

Of those surveyed, 56% plan to hire in the next 12 months, 82% in the next three years, and 61% within five years.

"The state has responded robustly to the needs of the manufacturing sector," said Andrea Comer, Vice President of Workforce Strategies, CBIA Education & Workforce Partnership.

"While the need in terms of numbers in the energy sector may not be as high, the aging of the workforce is just as real.

"We must be committed to ensuring that all businesses in the state have the talent pipeline needed to thrive and contribute to our economy's health."

More than half of respondents (57%) have difficulties acquiring entry-level workers for jobs related to energy and energy efficiency activities-in particular, HVAC and plumbing.

The biggest barriers related to hiring these employees include lack of required technical skills/certifications (73%) and basic career competencies such as teamwork, communication, and problem-solving (45%).

"Statewide, we see a growing need for trained technicians to work in energy efficiency and weatherization programs," said Diane Duva, director of DEEP's Office of Energy Demand.

"We support efforts to close the gaps between workforce training and clean energy industry needs, including the Energy Management degree program at Tunxis Community College."

To overcome Connecticut's entry-level energy and energy efficiency hiring challenges, CBIA and DEEP recommend the following:

State regional workforce development boards should provide entry-level training in the energy sector for unemployed and underemployed individuals.

June 14: Events Calendar: Cbia Service Corporation: MEDIA ADVISORY: Energy Costs, Compliance, and More at Energy & Environment Conference

Ken Moraff, Acting Deputy Regional Administrator, EPA, Region 1, New England provides a key agency update at this year's 2017 Energy & Environment Conference on Friday, June 16.

2017 Energy & Environment Conference Friday, June 16, 8 am-2:30 pm Hartford Marriott Farmington (15 Farm Springs Road, Farmington)

Get critical updates on state and federal enforcement trends and regulations, energy opportunities for small and large businesses, and learn of proposed legislation that could impact Connecticut companies.

The event will open with an energy & environment regulatory overview.

Discussion topics include:

Source: Company Website

SECTION 3 OTHER NEWS: 2017

October 09: Cbia Service Corporation : CBIA: State Budget Deadlock Hurting Economy, Job Growth

Connecticut's ongoing budget crisis is hurting the economy and job growth, the state's largest business organization warned today.

CBIA president and CEO Joe Brennan said the organization today launched a statewide advertising campaign calling for an immediate resolution to the budget deadlock.

"Connecticut's now gone 100 days without a budget," Brennan said. "We're the only state in the country in that position.

"Around the state, our member companies, small and large, are saying they want a bipartisan budget solution adopted and signed into law.

"They want to grow their businesses, expand their workforce, and take advantage of the opportunities that are out there.

"However, the widespread uncertainty created by the budget deadlock has handcuffed them."

Source: Company Website

October 09: Cbia Service Corporation: CBIA: State Budget Deadlock Hurting Economy, Job Growth

Connecticut's ongoing budget crisis is hurting the economy and job growth, the state's largest business organization warned today.

CBIA president and CEO Joe Brennan said the organization today launched a statewide advertising campaign calling for an immediate resolution to the budget deadlock.

"Connecticut's now gone 100 days without a budget," Brennan said. "We're the only state in the country in that position.

"Around the state, our member companies, small and large, are saying they want a bipartisan budget solution adopted and signed into law.

"They want to grow their businesses, expand their workforce, and take advantage of the opportunities that are out there.

"However, the widespread uncertainty created by the budget deadlock has handcuffed them."

Source: Company Website

September 14: Cbia Service Corporation: Job Losses Raise Budget Vote Stakes

The August jobs report reinforces the critical need for lawmakers to adopt a budget that will change the state's direction, an economist with Connecticut's largest business association said today.

"This is a major retreat from the positive momentum we saw earlier this year," CBIA's Pete Gioia said.

"It's vital that policymakers focus on job creation when developing the next state budget."

Connecticut lost 3,900 jobs last month and the Department of Labor revised July's initial loss of 600 to a loss of 1,100, for a loss of 5,000 jobs over the last two months.

"To put that in perspective, Massachusetts gained 10,800 jobs in August," Gioia said.

There were bright spots in the report and that includes manufacturing (1,200 jobs gained this month) and professional and business services (800).

However, Connecticut has added just 6,000 jobs over the last 12 months (0.4%) and its 78% post-recession recovery rate is the slowest in New England.

The unemployment rate dropped from 5.0% to 4.8%, but remains the highest in the region.

"While our unemployment rate is down, it's down for the wrong reasons," said Gioia, noting that the state's labor force fell by 5,600.

"We need a state budget that sets the tone for positive job growth," Gioia said.

September 13: Cbia Service Corporation: CBIA Statement on State Budget Negotiations

CBIA President & CEO Joe Brennan released the following statement today on the state budget negotiations:

"Connecticut state government has before it an enormous challenge but also a tremendous opportunity. It can close the projected budget gap for the next two years and put Connecticut on a new, more sustainable fiscal path.

"The key is a vibrant, growing economy. Policymakers are aware of recent corporate headquarters relocations and slower-than-average economic and job growth.

"In order to change course, who better to listen to than the men and women who are creating jobs and paying good wages and benefits in Connecticut?

"As we talk to our members, we hear consistent themes. They want predictability and confidence. They want a state that's affordable so they can attract and retain top talent.

"They want a thoughtful state budget that's not put together by taking the path of least resistance through a series of patchwork solutions, but a budget that has long-term structural reforms and addresses the increasing costs of state government. Source: Company Website

September 08: Cbia Service Corporation: Survey: Most Businesses Hold Steady As Costs, Legislative Uncertainty, Workforce Issues Challenge Growth

High costs, the lack of legislative predictability, and a growing demand for skilled workers are among the main factors hampering business growth in Connecticut according to a new survey.

The 2017 Survey of Connecticut Businesses, produced by CBIA and the accounting, tax, and consulting firm BlumShapiro, found that 49% of businesses are holding steady'compared with 51% in 2016'while 36% are growing (unchanged from last year), and 16% are contracting, up from 13% last year.

The survey, which examines the near-term outlook, export activities, workforce trends, technology investments, and legislative priorities of the state's business community, was released today at the Connecticut Economy conference in Hartford.

The state's high cost of living was the top factor impacting business growth, cited by 78%, followed by the uncertainty and unpredictability of legislative decision-making (72%), high business taxes (69%), government mandates (68%), and inadequate skilled job applicants (55%).

Sixty-five percent expect profits this year (compared with 66% last year), 24% say they will break even (17%), and 11% forecast losses (17%).

"We continue to see positive signs for Connecticut's business community'profitability is still up from five years ago and losses are at a 10-year low'despite the turmoil and lack of a state budget," said Joseph A.

September 05: CBIA, BlumShaprio Release Annual Business Survey Results

During this period of both tremendous uncertainty and opportunity for the state, how are businesses faring? Are they investing in Connecticut or elsewhere? Do they plan to hire more? If not, what's holding them back?

Find out these answers and more at CBIA's annual Connecticut Economy conference this Friday, September 8.

The Connecticut Economy Friday, September 8 8:30 am-noon Marriott Hartford Downtown (200 Columbus Boulevard, Hartford)

CBIA and BlumShapiro will release the results of the 2017 Survey of Connecticut Businesses, which takes the temperature of the state's business climate, highlighting its challenges and successes.

Presenting the results will be Joseph Kask, CEO, BlumShapiro; William Lee, president & CEO, The Lee Company; and Thomas Santa, president & CEO, Santa Energy Corporation. Thomas DiVitto, BlumShapiro's chief marketing officer, will moderate.

Patrick Dempsey, president and CEO of the Barnes Group, will keynote this annual event. He'll discuss manufacturing's role in Connecticut and this critical industry's next chapter.

Bruce McCain, chief investment strategist for Key Private Bank, will take a look at the U.S. market landscape.

John Santa, chairman and founder of the Malta Justice Initiative, provides insight into hiring the formerly incarcerated.

August 24: Cbia Service Corporation: Survey: Fewer Connecticut Businesses Expect Growth in Immediate Future

As concerns grow over the state's budget stalemate, fewer Connecticut businesses expect growth according to the results of a new survey released today.

The 2017 CBIA 2nd Quarter Economic and Credit Availability Survey found that just 29% of business leaders have a positive outlook for their firm'down from 37% in the first quarter.

Fifty-seven percent expect stable conditions (up from 47% last quarter), while 14% had a negative outlook, down from 16%.

The survey also showed that 23% of businesses expect to increase their workforce, down from 26% in the first quarter, while 66% forecast no change (66%), and 12% plan reductions (8%).

'The survey is indicative of an economy that is growing, just quite slowly,' said CBIA economist Pete Gioia.

"However, it's clear that as the budget stalemate continues, more and more businesses are avoiding making major investments until they see signs of predictability and stability.

"That means a budget with no tax hikes'sooner rather than later."

DataCore economist Don Klepper-Smith said the survey highlights how critical the outcome of budget negotiations will be for the state's economy and job growth.

"Businesses generally remain optimistic with respect to their own sales and business activities, but less so when it comes to state finances and overall Connecticut economic growth,' he said.

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