Economic Development News & Updates in
Greater New Haven
SBA Administrator Guzman Announces Key Policy Change: Existing COVID Economic Injury Disaster Loan Program Borrowers to Receive an Additional Deferment
Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, directed the Agency to provide additional deferment of principal and interest payments for existing COVID Economic Injury Disaster Loan (EIDL) program Borrowers for a total of 30 months deferment from inception on all approved COVID EIDL loans. The extended deferment period will provide additional flexibility to small business owners impacted by the pandemic, especially those in hard-hit sectors managing disruption with recent variants, as well as recent supply chain and inflation challenges amid a growing economic recovery.

Since its inception, the COVID EIDL program, a federal disaster relief loan, has allocated more than $351 billion in relief aid to 3.9 million borrowers, including to the smallest of small businesses from historically underserved, disadvantaged communities. Read More
Metro-North Railroad Announces New Train Schedules Now Available Online
Metro-North Railroad announced new train schedules taking effect on Sunday, March 27, are now available online. The schedule changes include the addition of 66 weekday trains to Metro-North's three East of Hudson lines. The addition of more weekday trains brings the railroad’s weekday service to 89% of its pre-pandemic levels and restores pre-pandemic express service at several stations. Customers can begin planning their trips on and use the new fare calculator feature to find the best trip and ticket option.

The upcoming increase in weekday service follows the rollout of new fare discounts on the railroad, including a new 20-trip ticket. The 20-trip offers 20 percent off comparable 20-peak one-way fares when purchased through MTA eTix or at a ticket window and are valid for 60 days. Since the rollout, more than 250,000 rides have been purchased with 20-trip tickets. Read More
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CT’s Heroes Tunnel is safe, but may undergo major rehab in 2025, DOT says
Is the Heroes Tunnel on the Wilbur Cross Parkway safe?

The state Department of Transportation says is is, even though there are some “deficiencies,” and an inspection shows the need for repairs.

According to a recent email from a DOT official to town First Selectwoman Beth Heller obtained by the Register, there are potential plans in the works for a major rehabilitation in fiscal year 2025 and a proposal for improvements in 2023/2024. Read More
Economic Engine: Harbor project primes New Haven’s port for future growth
Sitting in traffic at the Tomlinson Bridge just outside the Port of New Haven, it’s hard to appreciate the importance of the ships passing below.

But that barge maneuvering ever-so-slowly under the span and chugging its way toward New Haven Harbor represents one facet of a state maritime industry with $11.2 billion in annual economic impact that employs nearly 60,000 people across Connecticut.

That barge is also an avatar of New Haven’s busy port — a waterfront economic engine that got busier last year due to the national supply chain crisis.

The number of ships visiting the port jumped by 35% in 2021 compared to 2020, and cargo tonnage for last year is expected to exceed pre-pandemic levels, according to port officials Read More
More News & Events
3/24 1 p.m. What is a Regional Sector Partnership (RSPs) & How Will They Help the Manufacturing Industry in Connecticut? Read More

March 28-30 National Arts Action Summit Read More

3/29 & 30 SBA's Office of Women’s Business Ownership and the Nasdaq Entrepreneurial Center for the virtual Women’s Business Summit Read More

Greater Guilford Restaurant Week is happening March 21 – 27, 2022 Read More

New Haven Restaurant Week is March 27 to April 9 Read More

New Madison 3-story apartment project The Bradley was a dream of late civic leader Jack Davis Read More