Fairfield County Business Journal

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FAIRFIELD COUNTY

BUSINESS JOURNAL

YOUR only SOURCE FOR regional BUSINESS NEWS | westfaironline.com

VC activity keeps pace in Connecticut

Patrick Gallagher

Malloy seeks $3.2B in federal aid

December 10, 2012 | VOL. 48, No. 50

Tristate governors request $83B to assist with rebuilding efforts BY JENNIFER BISSELL

jbissell@westfairinc.com

As Congress seeks a bipartisan deal to avert

the fiscal cliff, lawmakers have yet another billion-dollar item on their agendas. The governors of New York, New Jersey and Connecticut last week requested nearly $83 billion in federal aid to assist with infrastructure improvements in areas damaged by Hurricane Sandy. Gov. Dannel P. Malloy has requested $3.2 billion in federal aid for Connecticut. “The storms that have impacted the state over the past few years have clearly demonstrated the need to upgrade

BY PATRICK GALLAGHER

pgallagher@westfairinc.com

V

Malloy, page 6

FCBJ TODAY The state’s deficit projections look grim... 3 Federal funds pivotal to the region …4 Finding cash in the state’s trash …5 When Mother Nature strikes, how do you compensate employees? 8

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Transit center decision forthcoming Official says state could choose a developer for a new parking garage and transit development in Stamford by the end of the month BY PATRICK GALLAGHER

pgallagher@westfairinc.com

State transportation officials say they hope to choose a developer for the construction of a new parking garage and transitoriented development at the Stamford Transportation Center later this month or early next year. While the project is centered on the replacement of the station’s current parking structure, the bid select-

ed by the Connecticut Department of Transportation (DOT) could include plans for a new, mixed-use complex of more than 500,000 square feet that would be located just steps from the train, according to sources with knowledge of the proposals. DOT, which owns the Stamford Transportation Center, received multiple bids in response to a July request for proposals for a new garage and

enture capital activity in Connecticut has been relatively strong in 2012 despite the economy and a longer-than-expected wait for new federal regulations that will make it easier for private companies to raise capital, analysts say. Connecticut-based companies attracted approximately $100,805,400 in venture capital dollars through the first three quarters of 2012, which ranked Connecticut 19th in the nation, according to the quarterly MoneyTree Report, which is jointly published by PricewaterhouseCoopers (PwC) L.L.P. and the National Venture Capital Association (NVCA). In comparison, through the first three quarters of 2011 Connecticut ranked 20th with companies attracting about $139,804,700 in venture capital investments, according to the MoneyTree data, which is provided to PwC and the NVCA by Thomson Reuters. Relative to other states, the data show Connecticut companies — and particularly early-stage startups — are performing well, said Elizabeth “Liddy” Karter, managing director of the Connecticut office of Enhanced Capital and executive director of the East Hartford-based Crossroads VC Activity, page 6

Transit, page 6

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Banking on innovation

11

ACO merits debated


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