Hartford – Gov. Dannel P. Malloy on Monday described Pfizer Inc.’s decision to move about 400 jobs last year from Groton to Cambridge, Mass., as a prime reason why Connecticut is making a $290 million investment for a new genetics research lab.
The governor called the Pfizer relocations “a very clear warning shot that was fired across our bow” that if the state doesn’t make investments in bioscience and other fast-growing high-tech sectors, more good jobs could leave the state. Read More
With the advent of electricity and the assembly line came longer hours and more industrious businesses. In fact, a recent Wall Street Journal article suggests that successive innovations and expansions in technology such as the invention of electricity and the creation of the assembly line helped boost America out of its numerous economic depressions and recessions in recent history.
If we want to promote economic growth and stability, we need to empower entrepreneurs who utilize and build new technologies. The article notes that innovation will be the “essential fuel” to our fire of economic growth and stability. It goes on to say that wireless technology could be our ladder out of the current recession and our pathway to a stronger, revitalized America saying that “The implications of the radical collapse in the cost of wireless connectivity are as big as those following the dawn of telegraphy/telephony.” Meaning that if we are able to harness wireless connectivity to create cost effective, high-speed broadband from coast to coast we will be on our way to creating an efficient, and competitive U.S. market.
In order to stimulate and kindle the fire of innovation, we need to promote infrastructure expansion. We must also be sure that any and all regulations from local, state, and national legislatures encourage economic growth and prosperity. A symbiotic relationship between these elements has the potential to lead to job creation. Without the combination of these vital aspects, we will see little growth in the U.S. and in New England.
In January 1912, the United States emerged from a two-year recession. Nineteen more followed—along with a century of phenomenal economic growth. Americans in real terms are 700% wealthier today. In hindsight it seems obvious that emerging technologies circa 1912—electrification, telephony, the dawn of the automobile age, the invention of stainless steel and the radio amplifier—would foster such growth. Yet even knowledgeable contemporary observers failed to grasp their transformational power. Read More
This week Jobs for New England Now (J4NEN) posted new blogs. Jobs for New England Now: LTE – Connecticut’s Hopes For State Of The Union Address is an Letter to the Editor, written by our executive director Paul Moran, that was placed in theHartford Courant regarding J4NEN’s hopes for the State of the Union Address. State of the Union Address: The Desperate Need for Regulatory Reform, calls for regulatory reform and the expansion of broadband to help boost the New England Economy. A Downgraded Rating is Wake Up Call not a Death Sentence discusses Connecticut’s recent financial downgrade from Moody’s Investor Service and Senator Boucher Highlights 2011 Special Jobs Session outlines Toni Boucher’s op-ed placed in The Ridgefield Press.
Weekly news posts include:
Worcester Business Journal: Biz Federation: First, Lower Costs Of Employment - The Massachusettschapter of the National Federation of Independent Businessestoday said Gov. Deval Patrick’s plan to increase the role of community colleges in workforce development is “laudable,” but described it as “putting the cart before the horse.”
Taunton Daily Gazette: South coast lawmakers push bill to clear way for Meditech project, 800 jobs - A project backers say could bring over 800 jobs to the economically depressed South Coast has sparked a battle between developers, regional lawmakers and the state Historical Commission over the ability of a medical software company to expand on archeologically sensitive land.
Yale Daily News: State Senate Democrats propose jobs agenda - With two weeks before the start of this year’s legislative session, Connecticut’s Senate Democrats proposed a jobs plan they say will help the state continue its economic recovery.
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On January 24, Connecticut State Senator Toni Boucher wrote an op-ed for The Ridgefield Press. In the piece, “2011 Was a Historic Year in Connecticut” the current senator focused on 2011 and the year in review. We have to agree with Sen. Boucher that the special jobs session in the Connecticut legislature was a highlight of the past year. According to the article, some of the most positive accomplishments included:
“Changes to the business entity tax, a $250 annual tax required of companies even if they are not actively working or hiring. The jobs bill makes the tax biennial to give businesses some relief.
A $500 tax credit per month for three years, for every new employee hired after the New Year and before Jan. 1, 2014. This tax credit increases to $900 if the person hired is unemployed or a veteran.”
We can’t help but agree that some of these outcomes were great ways to push the CT economy in the right direction, as well as boost small time business owners and entrepreneurs in our area to hopefully start hiring and expanding.
Along with Sen. Boucher, Jobs for New England Now looks forward to the future of our area; a future where jobs are available and businesses, small and large can grow in a stable economic environment.
The Massachusettschapter of the National Federation of Independent Businesses today said Gov. Deval Patrick’s plan to increase the role of community colleges in workforce development is “laudable,” but described it as “putting the cart before the horse.”
Bill Vernon, state director for NFIB, said in a statement that government should first focus on lowering the cost of job creation and retention and reforming the state’s “punitive” tax and regulatory systems. Read More
A project backers say could bring over 800 jobs to the economically depressed South Coast has sparked a battle between developers, regional lawmakers and the state Historical Commission over the ability of a medical software company to expand on archeologically sensitive land. Read More
Union Square Ventures recently posted an opening for an investment analyst. Instead of asking for résumés, the New York venture-capital firm—which has invested in Twitter, Foursquare, Zynga and other technology companies—asked applicants to send links representing their “Web presence,” such as a Twitter account or Tumblr blog. Applicants also had to submit short videos demonstrating their interest in the position. Read More
According to a recent article in the Hartford Business Journal, Moody’s Investors Service has downgraded Connecticut’s general obligation bond rating. The company cites the state’s heavy debt load, unfunded pensions liabilities, and the overall deplete of reserves as reasons for the downgrade. Some say that they foresaw the downgrade; others question the reasoning behind the decision. Whether or not you agree with the downgrade, the fact is that businesses rely on these grades when choosing potential investments opportunities, a point that is crucial for the creation of jobs in Connecticut.
But, it wasn’t all bad news for the state. Moody’s also said it has a “stable” outlook on Connecticut and expects that the state’s “revenue trends should improve as it emerges from the recession.” It is true that Connecticut is slowly coming out of its economic slump. Creating economic plans that include measures to promote economic stability and innovation within the region should be priority number one for the legislature. If the legislature is successful in creating economic incentives for businesses, we just might be able to see an increase in job creation and even a bump up in our ratings in the near future.
With two weeks before the start of this year’s legislative session, Connecticut’s Senate Democrats proposed a jobs plan they say will help the state continue its economic recovery.
Several senators held a press conference Tuesday afternoon at AdChem Manufacturing Technologies headquarters in Manchester to unveil a proposal they said is one of their highest priorities heading into the 2012 legislative session. According to the senators, the plan, which focuses on aiding jobs growth in small businesses, will protect and increase the number of in-state jobs and boost the state’s still flailing economy, which took a hit last week when ratings agency Moody’s downgraded Connecticut over its budget woes.
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