Hernando Montero's Palm Beach Post Weekly Column: Hartford Update: Debt Restructure?

Monday, Jul 31, 2017

Hernando Montero-Salazar
Stoever Glass & Co., Inc.
Phone: (212) 952-1910
Toll Free: (800) 223-3881
E: hmontero@stoeverglass.com

While Hartford, the capital of Connecticut, benefits from its position as a regional economic and employment center, tax base growth remains stagnant. Challenges include weak economic activity, low wealth and income levels, and high unemployment, which stood at 9% in April 2017, above the state rate of 4.7% and the national rate of 4.1%. The tax base is significantly concentrated, consisting largely of insurance companies. The Hartford Financial Services Group, Aetna Inc., and The Travelers Companies are among the city’s top 10 taxpayers and top five employers.

 

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