Jobs For Connecticut Now

On behalf of our coalition members and our co-hosts, which included the Chamber Leadership Cabinet, the Chamber Insurance Trust and AT&T, Jobs for Connecticut Now would like to formally thank the six gubernatorial candidates for attending yesterday’s gubernatorial forum at the Connecticut Business Expo.  Michael Fedele, Thomas Foley, Oz Griebel, Ned Lamont, Dan Malloy, and Tom Marsh, all provided an engaging and meaningful discussion about the economic and business issues facing the state of Connecticut and we are immensely grateful to all of them for their time.   Additionally, had it not been for the expert moderation of CNBC’s Ron Insana, we would not have had as quality a program that was delivered to our audience. 

The forum was an incredible opportunity for the candidates to discuss their ideas on job creation and closing the state’s massive budget gap as the race for Connecticut’s next executive office holder heats up.   It was clear, that the goals of the candidates are quite similar: lower state spending, attract and nurture more small businesses, and emphasize new industries to end the twenty-year lull in job creation in Connecticut.  The means, however, is where the debate lies.

For some of the candidates, the key to overcoming these economic challenges lie within the state.  Their idea is to reduce state spending, which will in turn lower taxes.  They also, want to increase funding for education, where the work force stems from, in order to keep more people in the state, and which wouldcreate a higher tax revenue, as there would be more taxpayers, without raising taxes. The internal approach also calls for incentives for small business, like tax credits for adding employees, and give tax credits to encourage research and development in newer industries. Another approach for job creation is to look outside the state to attract new business, rather than build on what already exists.  It seems that some of the candidates believe that attracting new business would be more profitable than working with what the state already has.  

We believe the final answer will be a combination of both an internal and external model.  But most importantly, we saw that all of the candidates agree that anti-business legislation is a major factor in the job creation issue. The candidates share many similarities when it comes to solving the job creation deficit, but it will be their differences that set them apart as the race draws closer.  For this race, a candidate will have to create innovative ideas to woo the people and convince them that he really can change the present and past problems we face with job creation and create a new opportunistic outlook for Connecticut’s business climate for future generations. 

Again, we thank all of the candidates, our co-hosts, and Mr. Insana for their participation.  And to all of those who were able to attend, we thank them for their support and engagement as well.

Hartford Business Expo

Thursday, June 10, 2010

11:30 am – 2:30 pm

CT Convention Center

100 Columbus Blvd, Hartford, CT

Join us for an exclusive luncheon for business leaders at the Connecticut Business Expo, hosted by the Chamber Leadership Cabinet, Jobs for Connecticut Now and Chamber Insurance Trust and sponsored by AT&T. 

The luncheon will feature keynote speaker Ron Insana, a CNBC senior analyst and commentator who provides his perspective on important business stories. Ron is the author of three books Trendwatching: Don’t Be Fooled by the Next Investment Fad, Mania, or Bubble, Traders’ Tales and The Message of the Markets.

As part of the program, Ron will also moderate an economic development and job creation panel discussion featuring candidates for governor.

For more information or reservations, please contact Jeff VanTienen, Director of Chamber Relations at (800) 953-4467 or jvantienen@cfr-cit.com. Please take a

moment to stop by our booths to get information on our value added programs available to chamber members.

Now that the Connecticut legislature has passed finished their session for this year, many folks might think there’s time to exhale before the new budget battles begin again.  But as Dan Haar (Courant Columnist) points out, the planning for next year should come with earnest and it should bring some responsible and critical decisions to our state’s financial outlook.  To see Haar’s piece click here.

Hartford – Jobs for Connecticut Now (JCN) and the Connecticut Business and Industry Association (CBIA) are urging legislators to reject SB 417, a bill that would dictate locations where Connecticut companies must conduct some of their business.

JCN and CBIA are opposed to SB 417 because it imposes additional rules on a business community already burdened with overly proscriptive and costly state regulations. The proposed legislation will present additional impediments to a company’s ability to run its business efficiently and effectively.

The state should not dictate where a company must conduct its operations.  Rather, officials should work to create an atmosphere conducive to business growth, free from onerous regulation and needless intervention in the operations of tax-paying businesses.   When allowed to focus on these issues, companies can do what they do best: sustain and create well-paying jobs for Connecticut residents.  We urge members of the legislature to reject this proposal immediately and focus their attention on innovative ways to bring more commerce to Connecticut — not drive it away.

Jobs for Connecticut Now is a project of Jobs For New England Now, Inc., a non-profit coalition of citizens, businesses, pro-business groups and non-profit organizations determined to encourage economic growth and prosperity for communities across the greater New England region.

Jobs for New England Now co-chair Stephen Bull had an op-ed published in yesterday’s New Haven Register. “‘Any place Outside of Connecticut’ says it all” responds to recent news that UTC, an employer of more than 26,000 Connecticut residents, may seek its operations out of the state to a more friendly business environment.

It’s difficult to boost the economy, create jobs and increase overall resident morale when one of the state’s largest private employers is advising investment analysts and their clients to run far, far away from Connecticut and its ever-increasing cost of doing business.  Although many in the area may suffer from unemployment or cut wages, Bull encourages company owners and policymakers alike to come together to tackle the problems and create solutions that are beneficial to all.

According to Bull, “It won’t stop until all voters demand that legislators and public officials ask why Connecticut isn’t a good place to create and retain jobs and, more importantly, do something to reverse that.” Now is the time for our state’s residents to be asking policymakers what they have done to make Connecticut a better place for business.

Read more about Stephen’s opinion here.

One of Connecticut’s biggest employers is determined to move its operations out of the state, citing the high cost of doing business.  United Technologies Corp (UTC), employs 26,000 workers in Connecticut, largely at Pratt & Whitney, Sikorsky and Hamilton Sundstrand.  According to the Hartford Courant, top UTC executives have spoken often about the high cost of operating in Connecticut for years.  Unfortunately, UTC isn’t the only employer in the state that has been affected by bad business policies. 

Companies like UTC don’t want to lay off Connecticut workers and move their operation to other parts of the country or to places like China and Poland.  But in many cases, leaving for greener pastures is the only way to survive.  It’s long overdue that our state’s decision makers realize that anti-business, anti-growth policies equate to job loss in Connecticut.

In today’s CT Confidential, Rick Green blogs about the business climate in Connecticut, and laments that the cost of living in the state is driving people away.  Finding “revenue” with new taxes isn’t going to do anything to solve our state’s problems, and in striving to make Connecticut a better place to run a business, the effort shouldn’t start with a call to raise taxes.

Green attended a forum on housing and the economy in Hartford yesterday, sponsored by the Partnership for Strong Communities, a group working to build partnerships between nonprofit housing groups and the business community.  The event was also attended by two gubernatorial candidates — Mary Glassman and Oz Griebel.  Most notably, several business voices in Connecticut lamented the state’s loss of jobs, educated workers and investment.

Connecticut should be working to create a business environment that will foster growth, development and investment in new business, a good first step on the road to economic recovery. 

The full post is available here.

From the Norwich Bulletin:  The high cost of doing business in the state and rising health care expenses have caused nearly half of Eastern Connecticut businesses to downsize during the recession, according to a survey released today.

The 2010 Survey of Eastern Connecticut Businesses also indicates that nearly half the businesses in the region also have reduced employee wages and benefits.

To see the full article and comments from JNEN’s co-chair, Tony Sheridan, click here.

From Connecticut’s WNPR:  “A top Federal Reserve economist has told an audience in Hartford that while he foresees continued growth in the economy, jobs will continue to lag behind the overall recovery.  Eric Rosengren, the President of the Federal Reserve Bank of Boston, says he believes there are still significant headwinds facing the economy, including low levels of lending by the banks, cautious spending by consumers, and above all, the continued sluggishness in the labor market.” To hear the full story from WNPR’s Harriet Jones click here.

Interesting interview in the Hartford Business Journal with CBIA’s Peter Gioia: “We are technically out of recession and recovering at a moderate pace. But we took such a severe downturn in the fourth quarter of 2008 and first quarter of 2009 that most people do not “feel” we are in recovery. By end of 2010 recovery is expected to be strong and long enough to be noticeable.”   To see the full article click here.