From 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.
From today’s Bristol Press: “We have been told, over and over again, that traditional manufacturing jobs are disappearing. If America — and Connecticut — is to thrive, say these futurists, the key will be innovation, new industries, new idea-based initiatives.” Check out the full piece here.
From today’s Bristol Press: “We have been told, over and over again, that traditional manufacturing jobs are disappearing. If America — and Connecticut — is to thrive, say these futurists, the key will be innovation, new industries, new idea-based initiatives.” Check out the full piece here.
From the New Haven Register: U.S. Sen. Christopher J. Dodd, D-Conn., flew into the state from Washington Monday to outline a job creation plan that focuses on clean energy, the manufacturing base and small businesses.
…“If people can’t find good-paying jobs in the private sector, our problems are going to grow,” Dodd said.
From the Meriden Record-Journal. Hats off to the state on this one:
SOUTHINGTON –Apple Valley Woodworks, a local cabinet maker was approved for a $750,000 low-interest loan for new equipment, according to an announcement from Gov. M. Jodi Rell.
The loan will also allow the company to bring its number of employees up from 91 to 100, according to the press release.
For Immediate Release: December 2, 2009
Connecticut Life Science, Business, and Economic Development Experts Discuss Connecticut’s Bioscience Future
HARTFORD, CONNECTICUT – Today a group of national and Connecticut-based partners hosted the Connecticut Bioscience Business Roundtable (BBR) event at the University of Connecticut in West Hartford. Bioscience represents a major source of potential economic development and jobs for Connecticut. The event featured remarks from Governor M. Jodi Rell, Congressman Chris Murphy, and Lt. Governor Michael Fedele.
“In this difficult economic time, the bioscience community is creating jobs and saving lives and Connecticut is at the center of the action,” said Paul Pescatello, President and CEO of Connecticut United for Research (CURE). “Connecticut possesses a powerful cluster of biopharmaceutical companies and our acclaimed educational institutions and knowledgeable business community are working together to ensure economic success and jobs for Connecticut. The Bioscience Business Roundtable offered a great opportunity for the open exchange of ideas about safeguarding this important industry in Connecticut.”
Connecticut’s bioscience industry represents a significant source of economic development and career opportunities. The most recent data available demonstrates that the Connecticut biopharmaceutical sector supports more than $14 billion in total economic output, directly supporting nearly 11,000 direct jobs and over 40,000 jobs in other sectors. http://www.archstoneconsulting.com/biopharmapdf/connecticut.pdf
BBR is a unified voice of leaders representing the biotechnology, life sciences, and biomedical research industries — collectively known as the bioscience community. Its mission is to promote public policies that on a local, state and federal level safeguard and sustain America’s place as the world leader in bioscience. The three tenets of BBR are to promote access, prevention and encourage innovation. This is achieved by building bridges of understanding between government leaders, the business community and academia on key issues facing Connecticut and the United States’ dynamic bioscience community.
Partners hosting today’s event included: the Central Connecticut Chambers of Commerce, Connecticut Business & Industry Association, Connecticut Department of Economic & Community Development, Connecticut Development Authority, Connecticut Economic Development, Association, Connecticut Innovations, Connecticut State Missionary Baptist Convention, Connecticut Technology Council, Connecticut United for Research Excellence, Greater Danbury Chamber of Commerce, Greater New Haven Chamber of Commerce, Independent, Connecticut Petroleum Association, Jobs for New England Now, Metro Hartford Alliance, New England Venture Capital Association, St. Joseph College School of Pharmacy, Town of Groton Economic Development Commission, University of Connecticut Dept of Public Policy, Waterbury Regional Chamber of Commerce, Wesleyan University, the Biotechnology Industry Organization (BIO), the National Venture Capital Association (NVCA), the Pharmaceutical Research and Manufacturers of America (PhRMA), and the U.S. Chamber of Commerce.
For more information please visit www.Connecticutbbr.org.
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For Immediate Release: December 2, 2009
Connecticut Life Science, Business, and Economic Development Experts Discuss Connecticut’s Bioscience Future
HARTFORD, CONNECTICUT – Today a group of national and Connecticut-based partners hosted the Connecticut Bioscience Business Roundtable (BBR) event at the University of Connecticut in West Hartford. Bioscience represents a major source of potential economic development and jobs for Connecticut. The event featured remarks from Governor M. Jodi Rell, Congressman Chris Murphy, and Lt. Governor Michael Fedele.
“In this difficult economic time, the bioscience community is creating jobs and saving lives and Connecticut is at the center of the action,” said Paul Pescatello, President and CEO of Connecticut United for Research (CURE). “Connecticut possesses a powerful cluster of biopharmaceutical companies and our acclaimed educational institutions and knowledgeable business community are working together to ensure economic success and jobs for Connecticut. The Bioscience Business Roundtable offered a great opportunity for the open exchange of ideas about safeguarding this important industry in Connecticut.”
Connecticut’s bioscience industry represents a significant source of economic development and career opportunities. The most recent data available demonstrates that the Connecticut biopharmaceutical sector supports more than $14 billion in total economic output, directly supporting nearly 11,000 direct jobs and over 40,000 jobs in other sectors. http://www.archstoneconsulting.com/biopharmapdf/connecticut.pdf
BBR is a unified voice of leaders representing the biotechnology, life sciences, and biomedical research industries — collectively known as the bioscience community. Its mission is to promote public policies that on a local, state and federal level safeguard and sustain America’s place as the world leader in bioscience. The three tenets of BBR are to promote access, prevention and encourage innovation. This is achieved by building bridges of understanding between government leaders, the business community and academia on key issues facing Connecticut and the United States’ dynamic bioscience community.
Partners hosting today’s event included: the Central Connecticut Chambers of Commerce, Connecticut Business & Industry Association, Connecticut Department of Economic & Community Development, Connecticut Development Authority, Connecticut Economic Development, Association, Connecticut Innovations, Connecticut State Missionary Baptist Convention, Connecticut Technology Council, Connecticut United for Research Excellence, Greater Danbury Chamber of Commerce, Greater New Haven Chamber of Commerce, Independent, Connecticut Petroleum Association, Jobs for New England Now, Metro Hartford Alliance, New England Venture Capital Association, St. Joseph College School of Pharmacy, Town of Groton Economic Development Commission, University of Connecticut Dept of Public Policy, Waterbury Regional Chamber of Commerce, Wesleyan University, the Biotechnology Industry Organization (BIO), the National Venture Capital Association (NVCA), the Pharmaceutical Research and Manufacturers of America (PhRMA), and the U.S. Chamber of Commerce.
For more information please visit www.Connecticutbbr.org.
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From Today’s Boston Globe: BOSTON—The worst of the recession may be over, but a new economic forecast points to a “slow and weak recovery” in the New England states, with job losses likely to continue until fourth quarter of 2010.
The report, released Tuesday by the New England Economic Partnership, said the region had lost about 346,000 jobs since the beginning of 2008. That number is expected to top 400,000 before the end of the decline.
From today’s Providence Journal: The end of the “Great Recession” is in sight, but economic recovery in Rhode Island will lag behind its New England neighbors and the rest of the nation, according to Andres Carbacho-Burgos, an economist with Moody’s Economy.com.
“Rhode Island, like the rest of the United States, is emerging from the Great Recession,” he said to a collection of the state’s top budget officials Wednesday morning, describing the Ocean State’s economic problems as the “second-worst recession in Rhode Island History in terms of proportional job losses.” Only 1991 was worse.
Rhode Island’s rate of recovery, however, will be the slowest since the Great Depression, Carbacho-Burgos said, downgrading his projections of six months ago.
The news was not altogether unexpected, but suggests that state budget deficits — and pressure on lawmakers to cut programs and raise taxes — will continue to grow in the coming months.
From the Worcester Telegram and Gazette: WORCESTER — Economist and Bloomberg TV analyst Richard Yamarone said the nation is recovering from its economic downturn but remains constrained by a poor job market…
Mr. Yamarone told his audience this morning, members of the Worcester Regional Chamber of Commerce’s Breakfast Club, he expects a recovery that, if plotted on a chart, would resemble the mathematics symbol for a square root: a sharp drop, a sharp rise and then a prolonged flat line.
The economy “falls, it rises and it comes back just barely into positive territory, where it levels off for a period of time,” he said.
A significant problem for the economy, Mr. Yamarone said, is the continuing loss of jobs.
“The more realistic view is we’re not creating jobs,” he said. “We’re still hemorrhaging jobs at a rate of 250,000 jobs a month, and the bad thing is we’re still hemorrhaging jobs 21 months into the recession.”
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