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Sen. Fasano Questions $10M State Loan For Seven Stars Cloud Tech Hub

Sen. Fasano Questions $10M State Loan For Seven Stars Cloud Tech Hub

State Senate Republican leader Len Fasano raised questions Thursday about a $10 million incentive package the state has offered a financial technology company planning a global hub at UConn’s former West Hartford campus.

Seven Stars Cloud Group Inc. is set to receive a $10 million loan through Gov. Dannel P. Malloy’s First Five Plus program, which helps large businesses relocate, expand and create jobs in Connecticut.

But Fasano said he has concerns about the stability and revenue of the blockchain and artificial-intelligence company, which stands to see its loan forgiven if it meets certain job targets.

“Upon further investigation and...

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