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    City of New Haven Economic Development

    Growing New Haven's Economy | New Haven News



    2011


    CT’s Higher One on S&P SmallCap 600




    (12/12/2011) HartfordBusiness.com - New Haven's Higher One Holdings Inc. has joined the S&P SmallCap 600 Index under the information technology sector in the data processing & outsourced Services sub-industry tab. Inclusion in the prestigious index reflects Higher One's rapid growth providing on-campus electronic-payments services to student subscribers.
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    New Haven biotech Rib-X going public




    (11/28/2011) Hartford Business Journal - New Haven antibiotics developer Rib-X Pharmaceuticals Inc., in which Connecticut taxpayers hold a stake, is going public. The biopharmaceutical company announced Monday that it has filed paperwork with the U.S. Securities and Exchange Commission for a proposed initial public offering of common stock. Rib-X did not disclose the number of shares or the price of the offering, but the Dow Jones Newswire reports that the company is looking to raise $80 million.
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    Startup Weekend New Haven gives ‘rapid start to new businesses’

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    (11/12/2011) New Haven Register - City resident John Fitzpatrick has an idea for a business that would get adolescents with diabetes to check their blood sugar frequently.Fitzpatrick is among several entrepreneurs participating this weekend in the new “Startup Weekend New Haven,” an event aimed at helping people with an idea for a business venture turn it into reality.Those attending the event that began Friday, packed The Grove on Orange Street Saturday. The event is focused on people who want to create ...
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    New Haven’s Higher One scores with strong 3Q

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    (11/2/2011) Hartford Business Journal - New Haven's Higher One Holdings Inc. had improved sales and profits for the third quarter as more college students subscribed to its on-campus electronic-payments services, pushing the number of user accounts past the two million mark.For three months ended Sept. 30, Higher One netted $8.5 million, or 14 cents a share, up from $6.5 million, or 11 cents a share, netted the same quarter a year ago.Third-quarter revenues climbed 25 percent to $48.1 million vs. $38.6 ...
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    Venture Capitalists Invest $43.6 Million In Connecticut Firms, Up From $22.8 Million in 3Q 2010

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    (10/19/2011) Venture capitalists invested $43.6 million in nine Connecticut businesses in the third quarter of the year, compared with $22.8 million invested in 14 firms in the third quarter of 2010.Individual investments ranged from $50,000 to more than $18 million last quarter. Four of the nine companies were software developers; two were biotechnology firms; two were industrial/energy businesses and one was a telecommunications firm, according to the quarterly "MoneyTree" report from PricewaterhouseCoopers ...
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    New Haven gets $390G for Union Station upgrade

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    A busy day at the bustling Union Station in New Haven.

    (10/14/2011) New Haven Register - The city Thursday was awarded $390,000 of the $1 million it sought from the state to help with planning for a transit oriented development at Union Station.The long-term project, which would not be completed until 2020, envisions additional garages, as well as housing and retail in the area of the train station, with the first 667-space garage completed by 2014.The grant was one of 11 grants totalling $5 million that were awarded to 11 cities, towns and regional planning ...
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    Pop-Up Stores Can Be Sweet Deal For Cities

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    A successful pop-up in New Haven's Ninth Square - Project Storefronts.

    (10/12/2011) Hartford Courant - The "pop-up business" is an old idea that — in New Haven and elsewhere — is new again.Businesses in temporary locations, or in permanent locations for limited amounts of time, have been around since the days of Yankee peddlers and trunk sales. But in the past couple of years there's been a new and mostly urban take on the idea. City officials have come to see that pop-ups can fill vacant storefronts that otherwise would be idle eyesores, put feet on the street, help property ...
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    New Haven biofuel firm to open plant




    (10/5/2011) New Haven alternative fuel provider Greenleaf Biofuels closed project funding on a 10-million-gallon per year biodiesel plant set to open in the second quarter of next year. The facility will become the largest biofuel facility in New England and the first with deepwater and rail access, according to Greenleaf. It will be located at the Port of New Haven.
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    Montreal firm latest choice to redevelop New Haven's Ninth Square

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    (8/23/2011) A Montreal company that has experience in downtown revitalization projects, particularly in college towns, is the newest preferred developer for the former Coliseum site in the 9th Square.Live Work Learn Play Inc., along with Newman Architects, is prepared to put $1 million into predevelopment planning over the next year on the best uses for the 4½ prime acres bound by Chapel, State and George streets and North Frontage Road.The company will do market studies, develop concept plans on a ...
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    DeLauro Floats A Barge-Friendly “MRA”

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    Barges like this one will take 50 to 60 tractor trailer trucks off the road.

    (7/6/2011) U.S. Rep. Rosa DeLauro and Sen. Richard Blumenthal came to Buchanan, at 80 Ferry St., Tuesday to describe it to company president Rick Jurczak. The alternative has an acronym: MRA, or Manufacturing Reinvestment Account.That’s a takeoff on “IRA.” The MRA would work a similar way for small businesses. The idea came from the New Haven Manufacturers Association, specifically Hugh McCann, president of Identification Products Corp. in Bridgeport, and Jamison Scott of Air Handling Systems in Woodbridge.Scott ...
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    City of New Haven Announces Incentive Program for Emerging Media Industries

    (3/21/2011) New Haven, CT - The City of New Haven Office of Economic Development and the Economic Development Corporation of New Haven (EDC) are pleased to announce a new tax incentive program for media and entertainment content production industries called "Produce It Here". This state-statute defined program allows the City to offer an incentive to an industry poised for tremendous growth due to New Haven's established creative economy, tech-savvy entrepreneurs, and geographic proximity to entertainment ...
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    Achillion wins patent for anti-hepatitis compound

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    (3/16/2011) New Haven - drug developer Achillion Pharmaceuticals Inc. says its new U.S. patent covering a key compound in its treatment for hepatitis C protects it while undergoing clinical trials to bring the drug to market but also widens the door to a takeover.Achieving patent status for its "cornerstone compound'' also elevates Achillion's attractiveness as a partner to other drug developers as well as a more attractive takeover target for pharmaceutical giants, the CEO says."The answer is a pretty ...
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    The Bourse on Chapel Street is your home office...that's downtown

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    (3/14/2011) NEW HAVEN — People who work from home will all tell you the same thing: It’s not always easy. There can be so many distractions: everything from telemarketers, neighbors, the dog needing to go in and out, and, of course, the piles of laundry that need to be done.And then there’s the isolation.It’s no wonder that places like Starbucks and Panera are filled with people who are typing away on their laptops. They’re hungry, perhaps not just for the lattes and the bread, but also for the illusion ...
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    Yale Draws Interest to New Haven's Center

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    (3/4/2011) (From Wall Street Journal) For more than half a century, the downtown central business district of New Haven, Conn., was a blighted area that students from the nearby Yale University campus routinely avoided. Today, the area is undergoing a renaissance—reversing a flight to the suburbs and bringing people back to the city for jobs, restaurants and new housing options that have hit the market over the past year. "Frankly, we've arrived," says Bruce Alexander, a former senior vice president ...
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    Downtown need a makeover? More cities are razing urban highways

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    (3/2/2011) (From Christian Science Monitor)Removal of aging highways is a strategy some cities are using to try to boost their downtown districts.In New Haven, Conn., a mistake of the past – one that displaced hundreds, razed a neighborhood, and physically divided a city – is finally set to be rectified: A highway is going to be demolished.Some people in New Haven have been waiting to see this for 40 years, ever since it became clear that a modern roadway slicing through the heart of downtown would ...
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    Housing markets: Best recovery bets

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    (2/7/2011) (From CNNMoney.com)Median home price: $224,000Drop since market peak: 17.7%Forecast gain by 9/2012: 2.5%New Haven lies within (long) commuting distance of jobs in New York and Fairfield County, Conn., and it boasts a world-renowned university and several important teaching hospitals. There are also lots of secure, well-paying jobs, with the median family income in 2009 topping $80,000. That has helped the economy maintain a fairly even keel.Home prices are reasonable for the Northeast ...
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    DeStefano touts $149 million increase in New Haven’s grand list

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    (2/4/2011) (From New Haven Register)By Abbe Smith, Register Staffasmith@nhregister.comNEW HAVEN — Mayor John DeStefano Jr. Thursday announced a $149 million increase in the city’s grand list, which he said amounts to about $6.3 million in new tax revenue for the next fiscal year, without increasing the tax rate.“It reduces our budget gap that we face next year to about $42 million, which is still a big number, but it’s better than $48 million,” he said, referring to the previously forecast deficit ...
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    Incubator programs may go virtual

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    (1/31/2011) (From Hartford Business Journal)By Sujata Srinivasan Connecticut’s business incubators are nearing capacity and the head of one program is considering a new approach — virtual space rather than brick-and-mortar buildings.CTech, an initiative of the quasi-public Connecticut Innovations, still has room for another eight or so start-ups and is inviting applications for its three incubator sites at New Haven, Farmington and Bridgeport, which are run in collaboration with Yale University, the ...
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    UConn, Yale make key stem cell discovery

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    (1/31/2011) Researchers from the University of Connecticut and Yale University announced Monday they have uncovered a key gene in human embryonic stem cell development also enhances stem cell growth and survival.The schools hailed the finding Monday -- to be published in the March issue of the journal Stem Cells -- as fruit of the state's $100 million public investment in stem cell research.The UConn and Yale researchers said the finding could lead to new insights into how stem cells regenerate or repair ...
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    Downtown Projects Are Gateway to New Haven's Development

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    (1/30/2011) (Originally from New Haven Register)By Mary E. O'Leary, New Haven Register, Conn. Jan. 30--NEW HAVEN -- Now that the preferred developer for the former New Haven Coliseum site is out, the remaining competitors are getting a second chance at pitching their qualifications. It is one of several long-term projects in the city that are slowly advancing as everyone waits for the real estate market to rebound. Unlike other Connecticut cities, however, New Haven will also see progress in 2011 ...
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    3 area hospitals among the best

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    (1/27/2011) (From New Haven Register)By Michelle Tuccitto Sullo, Naugatuck Valley Bureau ChiefThree area hospitals made HealthGrades’ list of Distinguished Hospitals for Clinical Excellence: Yale-New Haven Hospital and the Hospital of Saint Raphael in New Haven, and Griffin Hospital in Derby.Four others in the state also made the list. They are: Hartford Hospital, Manchester Memorial Hospital, Middlesex Hospital and Norwalk Hospital.HealthGrades, of Colorado, is an independent health care ratings ...
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    Shizzlr moves to Science Park

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    (1/24/2011) (from Yale Daily News)Move over, Mark Zuckerberg.Up-and-comers Keith Bessette and Nick Jaensch, co-founders of Shizzlr, an online social planning program, have upgraded from a dorm room startup to an office in Science Park at Yale. The site is one of several locations offered to Shizzlr by the CTech Incubator Program, which provides technology entrepreneurs with office spaces as well as resources such as accounting services.Shizzler chose Science Park at Yale over other locations, because ...
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    CT loans $400K to New Haven manufacturer

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    (1/21/2011) (From Hartford Business Journal)The Connecticut Development Authority has approved a $400,000 loan for New Haven manufacturer Schulz Electric Co. to expand and improve its repair facility and add jobs, authorities say.Schulz, in business in Connecticut for 84 years, manufactures, repairs and services electric motors, generators and controls. It is one of the few U.S. companies approved to work on nuclear-related safety equipment.The company employs 52 people and says it will have an ...
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    Nine CT companies got 4Q venture funding

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    (1/21/2011) (From Hartford Business Journal)Nine Connecticut companies spilt $12.5 million in venture capital funding in the fourth quarter, the worst three-month period for such investments in a year that was a marked improvement over 2009, authorities say.For all of 2010, 52 Connecticut companies received venture funding totaling $200.2 million, a 28 percent improvement over the investment level in 2009.Even though the fourth quarter was the second best quarter nationally in 2010, it was the worst ...
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    Gateway “Tops Out”

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    (1/20/2011) (from New Haven Independent)by Allan AppelIt was the 4,521st piece of steel (more or less)—and the final girder placed in Gateway Community College’s fast-materializing $198 million new downtown campus. “The day has come,” Gateway President Dorsey Kendrick wrote on the beam. “We’ve finally arrived.” Then the beam bearing what appeared to be an unused Christmas tree – the greenery symbolizing growth and good luck – was raised high above Church Street.It was then swung over on long ...
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    CT promoting more diversity in technology

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    (1/19/2011) (From Hartford Business Journal)Connecticut minorities, women and veterans are targets for a partnership program aimed at engaging more of them in harnessing technology and innovation as entrepreneurs.Connecticut Innovations Inc., the quasi-public state arm that invests in technology and innovation, has scheduled a pair of public sessions to educate prospective participants about available funding and support for business development.One will be Feb. 2 at Housatonic Community College ...
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    Blumenthal looks to future of New Haven's Rt. 34 project

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    (1/14/2011) (From New Haven Register)By Abbe Smith, Register Staff, asmith@nhregister.comNEW HAVEN — Newly minted U.S. Sen. Richard Blumenthal, D-Conn., got a bird’s-eye view Thursday of Route 34 and the future Downtown Crossing project site, a view he promised to keep in mind when he returns to Washington.The stop at developer Carter Winstanley’s biotech building at 300 George St. was part of an economic development tour of the city led by Mayor John DeStefano Jr. Also present for the tour were Bruce ...
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    New Haven, Conn: City with a new college try

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    (1/10/2011) (from Northjersey.com)BY SHANNON ROXBOROUGHThe RecordWhile exploring the possibility of attending Yale University "almost too many years ago to remember," Erica Conway paid a visit to New Haven, Conn., which she says was "a pretty tired place that had obviously seen better days."New Haven, Conn., boasts a variety of classic housing. An example of its Victorian offerings is this Queen Anne style home for $769,000.New Haven, Conn., boasts a variety of classic housing. An example of its ...
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    New Haven zone change paves way for Yale dorm expansion

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    (1/4/2011) (From New Haven Register)By Abbe Smith, Register Staffasmith@nhregister.comNEW HAVEN — The Board of Aldermen on Monday night approved a zone change that paves the way for two new residential colleges at Yale University.If all goes as planned, the project will allow Yale to accept another 800 undergraduate students, the first major enrollment increase in decades.Alderman Jorge Perez, D-5, chairman of the Legislation Committee, said the project would be good for Yale, and by extension, ...
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    Yale startup joins New Haven incubator

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    (1/4/2011) (from the Hartford Business Journal)A New Haven data management startup has become the newest tenant in an Elm City technology business incubator run by the state's technology investment arm.Connecticut Innovations Inc. said HDB Newco Inc. occupies unspecified space in the recently expanded CTech@Science Park at Yale facility that CI manages.Using technology licensed from Yale University, HDB Newco is developing an open source parallel database management system. The technology will ...
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    Yale startup joins New Haven incubator

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    (1/4/2011) (From Hartford Business Journal)A New Haven data management startup has become the newest tenant in an Elm City technology business incubator run by the state's technology investment arm.Connecticut Innovations Inc. said HDB Newco Inc. occupies unspecified space in the recently expanded CTech@Science Park at Yale facility that CI manages.Using technology licensed from Yale University, HDB Newco is developing an open source parallel database management system. The technology will be used ...
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