The state has announced a five-year, $46.6 million investment to expand small business assistance programs across Connecticut, specifically supporting small business owners who may have previously experienced barriers to accessing financial support. This initiative will also support startup businesses, which is great news for our economy.
The application period for the 2022-2023 winter season of the Connecticut Energy Assistance Program (CEAP) is now open! This program provides crucial support to vulnerable Connecticut homeowners and renters with the costs of heating their homes.
Connecticut's hospitality industry was hit hard by COVID-19. While many of our favorite restaurants, hotels, wineries, breweries, entertainment venues and more have made progress in their recovery, we know they're still trying to rebuild. Starting this week, more than 1,700 eligible CT-based hospitality businesses will receive checks in the mail through the Connecticut Department of Economic and Community Development's CT Hospitality Industry Support Program.
Insurance companies have requested that the Connecticut Insurance Department (CID) approve a rate increase by an average of 20.4% for plans starting in 2023, a steep spike from the 8.6% average rate increase request for 2022. Insurers claim this proposed hike is a result of the rising costs of healthcare and pharmaceuticals, but it comes at a time when we are already facing the highest inflation rates in 40 years.