From today’s Hartford Business Journal: Connecticut’s sour economy is presenting a rare opportunity for making the state’s regulatory environment more business friendly. As part of their economic development strategies, both Democrats and Republicans say they want to streamline the permitting process across state agencies and remove or alter regulations that are duplicative, outdated, or in some cases overbearing to businesses. To see the full story, click here.
Archive for the ‘Uncategorized’ Category
HBJ: State In Tight Spot On Jobs
Monday, March 1st, 2010Connecticut Ranks 5th-Worst In Funding Pensions
Thursday, February 18th, 2010From this morning’s Hartford Courant: ”Connecticut ranks as the fifth-worst state in the nation in funding pensions for its state employees, and the problem is growing worse, according to a national study to be released today.” To see the full story, click here!
Obama Lays Out Small Business Plan in New England
Tuesday, February 2nd, 2010Today, President Barack Obama held a town hall meeting in Nashua, New Hampshire where he outlined the new Small Business Lending Fund. The Small Business Lending Fund will transfer $30 billion from the Troubled Asset Relief Program to a new program that will support small business lending. The Small Business Lending Fund will be targeted at community and smaller banks that lend the most to small businesses, and offer incentives for banks to increase small business lending.
To see the full press release from the White House, click here.
To see the relevant fact sheets click here.
Warning Sign: Connecticut is losing residents
Monday, January 25th, 2010From the Meriden Record Journal: Connecticut has seen a steady outbound migration for several years, especially among 18- to 34-year-olds. But the exodus continued to add all ages, including retirees, at the start of the recession two years ago. … A recently released study by Atlas Van Lines on 2009 migration trends reports that Connecticut had the highest percentage of moves out of state. Out of 2,031 shipments related to the state last year, 1,230 were outbound, or 60.5 percent, with the 801 inbound shipments comprising 39 percent.
Bad Month Caps Bad Year for Jobs
Friday, January 22nd, 2010From the Danbury News Times: While much of the ills of the economy have been blamed on the financial sector, it was in the state’s factories where the most pain was seen.
Manufacturing in Connecticut lost 15,700 jobs in 2009.
Survey: Half of Eastern Connecticut’s businesses downsized
Friday, January 15th, 2010From 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.
WNPR: Top Economist Predicts a Lag in Job Growth
Tuesday, January 12th, 2010From 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.
Connecticut In A Recovery, But Growth Will Be Moderate
Monday, January 11th, 2010Interesting 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.
State: Toward A Better Business Climate
Wednesday, January 6th, 2010From today’s Hartford Courant: There’s no excuse for Connecticut being at the bottom of any business list. It’s lovely, smart and prosperous. It’s in the top ranks in college graduates per capita, incomes and state spending on schools. It has world-class universities, Tony-winning theaters, sublime museums, bucolic beauty.
Yet in the past 20 years, according to the University of Connecticut’s Center for Economic Analysis, this state has seen “perhaps the poorest job creation among all 50 states.” CEOs surveyed by ChiefExecutive.net rated the cost of doing business here third worst of all states.
To see the full story click here.
Can the 66-Point Plan Guide Us To Prosperity?
Tuesday, January 5th, 2010From the Hartford Courant: With an aging population, rising poverty and few prospects for job growth, how can Connecticut improve its chances for future prosperity?
State economic development officials have put together a 66-point plan they say should serve as a guide for policy-setting and decision-making.
Check out the full story here.
