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Unemployment insurance claims on the increase

01:00 AM EDT on Thursday, September 4, 2008

Rhode Island’s weak labor market drove up initial unemployment insurance claims for the week ending Aug. 23 by 328 from the previous week, according to the state Department of Labor and Training.

So far this year, initial unemployment insurance claims are up 10.8 percent from the same period last year, and 16.1 percent from 2006, the state reported. The number of residents who have exhausted their regular unemployment benefits declined by 83 from the previous week, to 332. Benefit exhaustions were still 23.6 percent above last year and 27.4 percent above 2006.

The state on July 6 began providing an additional 13 weeks of federally funded “emergency” unemployment benefits to eligible residents who had exhausted their regular benefits. During the week ending Aug. 23, there were 453 new emergency unemployment benefit claims filed and 7,321 continued claims filed, the state reported.

Rhode Island’s unemployment rate in July was 7.7 percent, the highest since 1993. The August unemployment rate is scheduled to be released Sept. 19.

GTECH agrees to contract in Belarus

GTECH Global Services Corp. says it has signed an agreement with Sport Pari to create the first online lottery system in Belarus. Sport Pari has received government approval to become the exclusive license holder and operator of online lottery games in the country. The five-year agreement will run through July 2013 and follows a competitive procurement. GTECH predicts that it will receive revenues of $16 million over the five-year term, commencing in October. “We are pleased to have this opportunity to supply a comprehensive range of lottery solutions and services to our newest customer Sport Pari, a closed joint stock company. The agreement in Belarus is strategically important for GTECH as we look to expand our presence in this rapidly developing region, and support governments and their licensed operators in regulating the gaming market,” said company president and chief executive officer Jaymin B. Patel. Under terms of the agreement, GTECH will provide Sport Pari with technology and about 1,000 terminals for the launch of the first online lotto game planned for October. The number of terminals is expected to grow to 5,000 as additional online games are implemented. The company will deliver player messaging and transaction displays through its network and provide marketing consultancy. In addition, it will provide Sport Pari with retailer training, operations training and support.

Providence biotech company awarded grant

The Montel Williams MS Foundation yesterday announced a grant to Providence-based Epivax Inc., the first biotech-related company to be awarded a grant from the foundation. Epivax is a privately held company run by Anne Searls DeGroot that is dedicated to the development and implementation of computational immunology tools to benefit the biotechnology industry. The size of the grant was not disclosed. In all, the foundation made grants totaling $325,000 to institutions studying new treatments for MS, methods for restoring MS-depleted myelin throughout the nervous system and methods for early detection, which has been shown to slow or halt the progression of the disease.

Webster Bank appoints Greenfield

Waterbury, Conn.-based Webster Bank, N.A., a Webster Financial Corp. subsidiary that has several branches in Rhode Island, has announced the appointment of Walter F. Greenfield as president and chief operating officer of Center Capital Corp., Webster Bank’s equipment financing subsidiary headquartered in Farmington, Conn. The appointment is effective Oct. 1, replacing CEO Mitchell D. Weiss, who is retiring. Greenfield is currently senior vice president at Center Capital, which has about $1 billion in assets. Webster also announced that it has entered into a long-term agreement with M.D. Weiss LLC, a consulting firm Weiss will lead after his retirement. Weiss will work with Webster’s commercial banking division and credit risk management on a broad range of projects.

Raytheon again ranks high for diversity

For the fourth year in a row, Waltham, Mass.-based Raytheon Co., which has a unit in Portsmouth, has achieved a 100-percent score on the Human Rights Campaign’s Corporate Equality Index. The HRC is the nation’s largest gay, lesbian, bisexual and transgender rights group, and tracks American companies annually on how they treat employees, consumers and investors. Raytheon became the first defense and aerospace company to achieve a 100-percent score on the index in 2005. Since then it has continued to lead the industry in fostering a respectful workplace environment where all employees can achieve maximum growth and productivity regardless of sexual orientation, gender expression and/or gender identity. “Receiving a perfect score on the Corporate Equality Index for the fourth time is further proof of Raytheon’s continued dedication to diversity and highlights the achievements the company has made in creating an inclusive and open environment for all its employees,” said Hayward Bell, Raytheon’s chief diversity officer.

Work begins on wind farm in Maine

Land clearing has begun for Maine’s third major wind farm, a 44-turbine project in the western mountains of Kibby Township in northern Franklin County that will generate enough electricity to power 50,000 homes after its planned completion in 2010. TransCanada’s 132-megawatt project stands to become New England’s largest. The energy company, based in Calgary, Alberta, has received all permits to move forward; clearing for roughly 17 miles of roads is under way. Contractors are expected to start work on roads to the planned towers this week. Project Manager Wolfgang Neuhoff said plans call for having the first set of 22 turbines built and on line in December 2009 and the second set in 2010. A 28-unit wind farm in Mars Hill in northern Maine started producing power last year and the 38-turbine Stetson Mountain project is well under way in eastern Maine. Mars Hill is New England’s largest operating utility-grade wind farm.

Senator backs N.Y. maple-syrup plant

U.S. Sen. Charles Schumer, D-N.Y., visited Lowville on Tuesday to announce his support for a maple-syrup processing plant in Lewis County, upstate New York’s leading producer of maple syrup, as part of an effort to help increase sales. He said the plant would make the county the epicenter of a booming New York maple syrup industry and give a big boost to the local economy. The senator said New York lags behind industry leaders, importing four times as much maple syrup as it produces.

Fall’s apple harvest looking good

Massachusetts apple growers say they expect a strong harvest this fall, thanks to the hot and wet weather in August. Diane Fay, owner of the six-acre Fay Farm in Haverhill, said alternating heat and rain was “perfect” for apples and the farm saved money because it did not have to use irrigation. Bob Connors of Connors Farm in Danvers said this year’s apples are “bigger and brighter.” Mary Jordan, director of the state’s agricultural development division, said Massachusetts’ apple inspector has reported that this year’s crop is especially colorful and bountiful. Jordan says the predicted yield is about 1 million bushels, slightly more than last year. The bumper harvest will inject anywhere from $12 million to $15 million into the economy.

Conn. company gets Singapore contract

Danbury, Conn.-based Solomon Technologies Inc. has announced that its Motive Power Division, which develops, licenses, manufactures and sells precision electric power drive systems, has won a second contract to provide its proprietary propulsion technology for use in water taxis in Singapore. The taxis will be used in and around Singapore harbor in accordance with the local government’s strict regulations regarding environmentally friendly power sources. Peter W. DeVecchis Jr., president of Solomon, said, “As we continue to focus our corporate resources on the renewable and alternative energy fields using our unique technology in power electronics and electro mechanical drive systems, the repeat order from Singapore is indicative of the growing demand for our products, worldwide.”

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