Archive for the ‘Blog’ Category

A sad day for Connecticut…

Wednesday, September 23rd, 2009

On Monday, word came of the inevitable. Pratt & Whitney announced that they would close two facilities in Cheshire and East Hartford over the next 18 months, resulting in a loss of 1,000 jobs.

First and foremost, our heart goes out to those families and workers that will be directly impacted by this move. Pratt & Whitney employs some of the brightest and hardest working residents from Connecticut, and there are few words that will comfort them in the days ahead. Thousands upon thousands have already lost a job in the state during this recession, and hearing that a thousand more will join the unemployment line is a shot to the gut. It truly is a sad time for everyone across Connecticut.

If there is a silver lining in this situation, it is that for the first time in a long time, we saw state leaders try and remedy the situation before a final decision was made by Pratt & Whitney. Both policymakers and union officials made a concerted effort to keep these jobs alive with some innovative and creative thinking. The state offered the company $100 million in incentives over a five-year period and the union reportedly offered its own concessions in the multi-millions. Moves like that are uncommon in Connecticut, and despite the decision to move forward with the cuts, we should applaud all those involved for working so hard to try and avoid this tragic situation.

Unfortunately, the move came at the last hour when it was likely too late. And this point, brings us back to the theme of what Jobs for New England Now has been trying to promote since our launch in April. For too long, Connecticut and other states in the region have done little to make the business environment in New England more compelling for job creation and job retention. We have seen too many businesses close their doors and head to other parts of the country, taking important and vital jobs for our residents with them.

NOW is the time when policymakers need to start implementing measures that reward businesses for creating jobs and make the region more attractive to businesses that are on the cutting edge of technology and innovation. We need our policymakers to promote a landscape where companies can be successful and maintain a strong base of employees to make our region richer and help revitalize the communities we live in.

As we said previously, this is an extremely sad day for the state, but we hope that in tragedy comes opportunity. From this day forward, our local policymakers need to realize that the status quo will no longer be acceptable. Both the business community and political community need to come together to find new ways to make this an attractive and affordable landscape where businesses and jobs can flourish for all Connecticut residents to enjoy. The skies above Connecticut have been grey for too long, and NOW is the time for policymakers to take note. NOW is not the time to talk about blame or greed. We must focus on the future and how innovation and investment will bring jobs back to our loyal and deserving workers.

Connecticut Loses 3,700 Jobs in August

Monday, September 21st, 2009

Last week, the Connecticut Department of Labor released the newest statistics on employment in the state, with the jobless rate rising to 8.1 percent in August, up from 7.8 percent a month earlier. If the state’s unemployment rate had reached 8.2 percent, Connecticut would have qualified for $37 million in new federal aid for those struggling to find work.

Connecticut also shed 3,700 jobs in August — more than what most economists had expected — showing that for those seeking work the road will remain rough, even though the recession may technically be over. The state has now lost 79,100 jobs, or 4.6 percent of its total, since employment peaked at 1,709,400 in March 2008.

Economist Don Klepper-Smith predicts the state will lose closer to 100,000 jobs before there is a sustained recovery, perhaps beginning in the middle of next year. The labor department’s report showed six of the 10 major industry sectors lost jobs in August, led by leisure and hospitality and government. Three sectors — including manufacturing and construction, hit hard in the recession — were stable. Educational and health services was the only group to add jobs.

As the recession continues to affect residents of our region, there is no better time for policymakers to take action to turn the business climate around. Last week, Governor Rell announced the release of a strategic plan for Connecticut’s economy. While the plan is just a starting point in a continuing dialogue over the economic future of the state, we hope to be involved in the process of crafting a roadmap for the future as we all work to reverse the disturbing trend of job loss in the state.

JNEN Statement on Connecticut’s Economic Strategic Plan

Thursday, September 17th, 2009

THE FOLLOWING STATEMENT WAS MADE BY
PAUL MORAN, EXECUTIVE DIRECTOR, JOBS FOR NEW ENGLAND NOW,
CONCERNING THE RELEASE OF CONNECTICUT’S ECONOMIC STRATEGIC PLAN:

“The plan released this week is a first step in an ongoing assessment of Connecticut’s strategy for economic growth, especially in the area of job creation and retention. We applaud Governor Rell and the Department of Economic and Community Development (DECD) for noting many items that merit emphasis, including new technologies and investment tax credits to spur business growth and new jobs.

However, this study is just a starting point in a continuing dialogue over the economic future of the state, one that will involve stakeholders such as the business community, state and local officials, and the people of Connecticut. The members of Jobs for New England Now have begun to review the contents of the study, and we expect to have further comment in the near future. We look forward to following and participating in the upcoming public hearings to help craft a roadmap for the future as we all work to reverse the disturbing trend of job loss in the state.”

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Governor Rell Announces New Economic Growth Plan

Thursday, September 17th, 2009

Yesterday afternoon, Connecticut Governor Jodi Rell announced the release of a new economic growth plan for state, which includes $100 million for a public-private student loan partnership, a new Port Authority for ports and airports, and an “Angel Investor Tax Credit” for individuals or firms that invest in areas such as biotechnology.

To shield Connecticut’s economy from the financial industry’s volatility, she included new technology firms in digital or green areas in the new tax credit. The nearly 550-page report’s 60 recommendations include strengthening regionalism by getting cities and towns to work together instead of vying with each other for the same jobs.

Rell’s plan aims to shape policy and priorities in the economic downturn, with the goal of creating more jobs in the state.

The full document can be viewed at: www.ct.gov/ecd

Jobs for New England Now Sponsors Bioscience Event

Wednesday, September 16th, 2009

On Monday, October 5th, Connecticut’s top Bioscience, Business and Venture Capital experts will gather at the UConn West Hartford campus to discuss the future of Connecticut Bioscience. The Connecticut Bioscience Business Roundtable is hosting the event, and attendees will include elected officials and staff, representatives from government agencies, academics, economists, the media and business leaders from around the state.

This program has been designed to build bridges of understanding between government leaders, the business community and academia to promote three tenets: access to medical care, prevention of illness and the encouragement of innovation. Jobs for New England Now is sponsoring this event. For more information, visit http://connecticutbbr.org

Event Information:

Date: Monday October 5, 2009 pm to 5 pm
Time: 1 pm to 5:15 pm
Location: Zachs Community Room – UCONN West Hartford Campus
Free Reception to Follow

Jobs for New England Now Launches Massachusetts Chapter

Thursday, September 10th, 2009

This morning, Jobs for New England Now was thrilled to announce the rollout of its second state chapter, Jobs for Massachusetts Now, which will work to promote job growth and economic development in Massachusetts.  Groups participating in the Massachusetts project include the Retailers Association of Massachusetts (RAM), Associated Industries of Massachusetts (AIM), South Shore Chamber of Commerce, Metro South Chamber of Commerce, and NFIB Massachusetts.

 

Since we began Jobs for New England Now just five months ago, we have taken an active role in educating Connecticut policymakers and residents about how we can make the region more attractive to companies that provide jobs to our residents, and we intend to do the same in the Commonwealth.

 

Moving forward, the project will have an active online presence at both www.jobsformassachusettsnow.org and the larger group’s website at www.jobsfornewenglandnow.org. Both websites house studies, opinion pieces, recent news and blog commentary from coalition members, and other academic experts. Additionally, members of Jobs for Massachusetts Now will work throughout the region in a variety of ways to promote pro-business policies that will help spur job growth and maintain existing job opportunities throughout the region.

Thinking About Labor Day…

Thursday, September 3rd, 2009

The Labor Day weekend is always one of the last signs that our summer is about to come to a close. But before we say good-bye to those backyard BBQ’s and family vacations, we relish the extra holiday as one last opportunity to soak up the sun, spend a day on the beach, or get together with family and celebrate some time together before the kids are back in school and the extra-curricular commitments of life takeover our daily schedules.

Unfortunately, we sometimes forget why Labor day was was originally created. Check out the Department of Labor website and you will see clearly spelled out that “Labor Day was a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country.” There’s also some interesting background on the creation of Labor Day, which has been around for more than 100 years.

Which brings us to this point. Despite the recent economic challenges our nation has endured, this Labor Day should be a major reminder to local policymakers that it is even more important than ever to get New England’s residents who have lost their jobs off the unemployment line. Our local policymakers need to do everything possible to encourage investment from businesses in this community and make our environment more attractive for other companies to come to the region. We need to find new incentives that will help bring new business to New England and help keep the doors open of those businesses that already exist here. Labor Day should be about celebrating the jobs we have and the hard work our residents put into them each day. When the nation is experiencing some of the highest unemployment rates in decades, it may be difficult to truly celebrate that meaning of Labor Day this year, but hopefully a year from now we will have a brighter and more optimistic picture to enjoy during the long weekend.

Investment and Innovation Will Help Small Business Too…

Tuesday, August 25th, 2009

Interesting piece in Federal Computer Week (FCW) yesterday, which depicts another creative way that policymakers can spur innovation with investment, and help provide more jobs and those small businesses that employ so many of New England’s hardest working residents…

Portion from the FCW piece: The Energy Department plans to release $37 million in funding from the American Recovery and Reinvestment Act to small businesses to stimulate research and development into clean energy technologies.

The funding will be available through the Small Business Innovation Research and Small Business Technology Transfer programs targeted toward U.S. companies with fewer than 500 employees. Topic areas being considered for funding include sensors, controls, wireless networks and smart controllers for smart grid applications.

We can’t really rev without job creation…

Monday, August 24th, 2009

Here’s to hoping some of New England’s local policymakers saw this interesting piece in yesterday’s edition of the New London Day from their business editor, Anthony Cronin: “It’s anyone’s guess when the nation – and then Connecticut – will begin to rev the engine of economic growth. Let’s hope it’s sooner rather than later.

Because we can’t really rev without job creation. I recognize that in the early stages of recovery employers are reluctant to hire, favoring things like overtime to boost productivity and meet increasing demand.

Sooner or later, however, as demand rises for goods and services, there will be a need for more jobs. Based on this latest economic assessment, here in Connecticut we may be waiting for some time before that occurs.”

Grey Forecasts Show Time for More Cooperation

Wednesday, August 19th, 2009

Some pretty grim forecasts coming out of Connecticut this morning, and sadly we aren’t talking about the possibility of Hurricane Bill making its way up the East Coast. According to a new report from the Connecticut Center for Economic Analysis, Connecticut could lose an additional 35,000 jobs over the next year, leaving it with 1.62 million — fewer than in 1990. The Hartford Courant outlined the report in this morning’s paper indicating that “the [it] cites weak housing construction and state budget cuts as reasons for its job forecast, which some other economists in the state called ‘pessimistic’ but ‘plausible.’” The report also said that since Connecticut’s employment peaked in March 2008, 70,200 jobs have already been lost here (leaving a total of 1.64 million at the end of June), and as the Courant indicates, even more layoffs could be coming from some of the state’s larger employers in the months ahead.

All this gloomy news should be yet another reason for policymakers and the business community to work together to find new ways to make Connecticut and Greater New England, more competitive and attractive for new businesses. If there isn’t a new enthusiasm for working together on this, the job situation for many deserving residents is not going to get better any time soon. We need our policymakers to be thinking about how they can create incentives for companies to come and invest in New England, how they can reward innovation, and how they can make our region a more competitive landscape. (Unfortunately, we doubt offering an increased surcharge on corporate profits does that, but we will hope for the best as the budget talks proceed.)

In the months ahead, our organization will be addressing how competitive New England has been with other regions of the country, and how we compare to those regions that are providing incentives for businesses to open their doors, but the reports from this morning should be a strong indicator to all New England residents and policymakers alike, that if we cannot identify ways to bring about a more attractive business environment, we are bound to see even more job loss. The skies may be grey today, but we are hopeful that with cooperation and some renewed enthusiasm between the business community, policymakers, and groups like ours, the forecasts will begin to get better…

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