Jobs For Connecticut Now

Jobs for New England Now posted three new blogs this week. Using Innovation to End the Recession discusses a recent Wall Street Journal article which 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 and that wireless internet may have the same effect. Staples Opening New eCommerce Site in Massachusetts announces Staples new “eCommerce Innovation Center” in Cambridge, Massachusetts. Small Business and Manufacturing is the Topic of Discussion discusses the issue of building out local small businesses and local manufacturing in order to boost the areas unemployment rates.

Below is a brief list of news articles we posted this week:

The Washington Post: Employers added 243,000 jobs in January, pushing unemployment rate down to 8.3 percent – Employers went on a hiring spree in January and drove down the unemployment rate for a fifth straight month to 8.3 percent, its lowest point in nearly three years. The result pointed to a resurgent job market, and it sent stock futures surging.

North Haven Patch: Manufacturing Key to Growth, North Haven Legislators Say - Strengthening small businesses and building interest in local manufacturing were the key topics at a session held by State Senator Len Fasano (R-34) and State Representative Dave Yaccarino (R-North Haven) Wednesday night at the public library.

CT Mirror: Malloy gets final approval for Jackson Lab investment - Gov. Dannel P. Malloy secured Connecticut’s investment in a major genetic research initiative Monday — but not before one more partisan debate. The State Bond Commission voted 8-2 to release $291 million, which will pay to build a new 173,000-square-foot research center for The Jackson Laboratory on the University of Connecticut Health Center campus in Farmington. The funds also will provide equipment and furniture for the facility, and will subsidize roughly one-third of operating costs for the next decade.

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Recently at a legislative session in Connecticut, the focus was small businesses and manufacturing. State Senators Fasano and Yaccarino are both focused on the issue of building out local small businesses and local manufacturing in order to boost the areas unemployment rates.

According to an article on the North Haven Patch, Senator Fasano believes that Manufacturing in Connecticut is alive and well. He continued:

“‘The problem is that when kids think of manufacturing, they associate it with the three D’s: dark, dirty, and dangerous. That’s not the case anymore.’ Fasano stressed that modern day manufacturing relies mainly on computer-assisted design, and compensates employees extremely well.”

While the senators are advocating for certain acts and principles such as the Job Expansion Tax Credit and the Manufacturing Reinvestment Accounts (MRA) program, which work to help smaller businesses and manufacturers in our state, Jobs for New England Now is supportive of the overall efforts to bring jobs to our communities and to build up small businesses.

When you think of Staples, eCommerce might not be the first thing to come to mind. But as Daily Deal Media reports, the office supply giant is the second biggest eCommerce company in the world – and it’s expanding.

Staples has just announced the opening of a new “eCommerce Innovation Center” in Cambridge, Massachusetts. In a press release this week, the company said the site will be home to skilled professionals “responsible for designing and implementing innovative new eCommerce solutions for the millions of business customers who shop Staples websites and stores.“

It’s no accident that Staples zeroed in on the tech-savvy town. Brian Tilzer, vice president, e-commerce and business development for Staples.com says Cambridge’s commitment to technology was a huge draw. Tilzer called the city a “hub of innovation, with both world-class universities and technology companies.”

The center is scheduled to open by May of this year.

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.

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.

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.

There are countless reasons for our slow journey to economic recovery. A recent LTE to the Hartford Courant sent by our Executive Director highlights one that we see as being especially crucial for reviving Connecticut’s sputtering economy is burdensome regulation. We argue that updating and reforming our regulatory system will encourage businesses to invest in our communities again.

We will be watching as the president speaks to the nation during his upcoming annual State of the Union Address. We hope that he will once again call for regulatory reform as a way to foster growth and innovation in America and that Connecticut will follow his lead. We believe it is essential that we cut the regulatory red tape if we want to see progress in America and in New England.