Stunning numbers from a new
@CTVoices
report:
👉 If the state's post-pandemic
#job
growth matched the country, 53,000 more jobs would have been filled.
👉 If
#GDP
growth matched the U.S. over that period, our economy would be $22 billion larger. 1/2
Connecticut fell 15 spots to 39th in
@CNBC
's annual America's
#TopStates
for Business, weighed down by familiar factors: the high cost of living, high cost of doing business, and an economy struggling to recover from the pandemic.
#RebuildCT
#smallbiz
#Newington
manufacturer says anything state lawmakers can do to mitigate taxes, soaring costs will help struggling
#smallbiz
.
“It’s important that we look at what our fixed costs are and push off some of those" to avoid furloughs, reduced hours.
"What we wanted to do was show our commitment to help strengthen these businesses,”
@comcastbusiness
' Paul Savas tells CBIA's Amanda Marlow. The company launched its RISE initiative in 2020 as part of a $100M commitment to
#diversityandinclusion
.
#smallbiz
HAPPENING NOW:
@GovNedLamont
speaking to 400-plus business leaders at
#CTeconomy
summit. “Everything we do with the budget will focus on economic development.”
#transformct
“When we make space for women, we make space for everyone,”
@GirlsWhoCode
CEO
@DrTarikaBarrett
tells CBIA’s annual meeting. “Let’s build a culture that inspires women and girls.”
#transformct
“To be successful, we must continue to innovate and much of that innovation happens here in Connecticut,” says
@prattandwhitney
’s Bob LeDuc.
#cteconomy
Take a hard look at where we are—the numbers don't lie. It's unacceptable, because Connecticut should be a leader, but policy choices are holding us back.
#ctbudget
#cteconomy
#ctpolitics
@WillHaskellCT
New England year-over-year job growth:
--New Hampshire: +10,200 (1.5%)
--Rhode Island: +7,100 (1.4%)
--Massachusetts: +37,300 (1%)
--Maine: +5,500 (0.9%)
--Vermont: +2,800 (0.9%)
--Connecticut: +3,200 (0.2%)
The U.S. average over the last year is 1.5%.
October 2 is
#MFGDay
! Connecticut
#manufacturing
is a powerful economic force:
✅ World-class workforce: 150,000-plus skilled workers
✅ $96K average compensation
✅ Manufacturers pay over $315M in state taxes
✅ Contribute $30B annually to state's GDP
#MadeinCT
#RebuildCT
.
@SenBlumenthal
pays tribute to “all the manufacturers, restaurants, theaters, and businesses that persevered through the pandemic. “What stood out was the courage and strength of our businesses—that’s what got us through.”
#transformCT
#smallbiz
#MadeinCT
#CTBizDay
Latest employment report a sobering reminder the
#CTeconomy
continues to struggle just to recover from the 2008-2010 recession—let alone keep pace with the rest of the region and country.
Half the state's 10 major industry sectors added jobs in 2019, led by education and health services at 3% growth.
Construction led all losing sectors, declining 5.5%.
Overall private sector growth was 0.4%, the second slowest year over the last decade.
Learn how one of Connecticut's oldest companies stays successful when
@StanleyBlkDeckr
's Don Allan Jr. keynotes
#MadeinCT
2018 Manufacturing Summit. Join us 10.26 in Trumbull
Connecticut's labor force declined by 81,500 people since Feb. 2020—an astonishing 51% of the region's losses and 14% of the U.S. decline—while job openings exploded to a record 117,000.
#RebuildCT
#workforcesolutions
#affordability
👉
@Yale
the number four school in the country
👉
@UConn
ranks 23rd among public universities
👉
@FairfieldU
ranked second for regional innovation, third overall among regional schools
👉
@PostUniversity
number one regional school for economic diversity
.
@CTBIO
calls
@sema4
announcement "great news" for state's
#bioscience
sector, calling the company's technology "the scaffold on which the future of the biopharma industry will be built."
#cteconomy
"There are so many agendas right now that call for higher costs, more mandates, and more regulatory burdens," says CBIA's Joe Brennan. "All of them exacerbate the problem."
#cteconomy
#ctpolitics
"Now is not the time to increase the tax burden on Connecticut residents," say moderate caucus co-chairs
@kerryawood
and
@RepPatBoyd
.
"We are urging the Governor and our legislative colleagues to hold the line on taxes."
#RebuildCT
.
@hartfordcourant
has it right. “For all the talk about where and how to raise taxes, legislators have actively avoided any talk about cutting spending in state government. That conversation needs to start.”
#ctbudget
#cteconomy
Connecticut's
#transportation
spending includes $35,028 per highway mile in administrative costs—that's the highest in the country and 678% above the national average of $4,501.
#ctbudget
#cteconomy
“Important to celebrate Connecticut’s long history of innovation and entrepreneurship,”
@kaman
’s Neal Keating tells
#CTeconomy
summit. “Now it’s time to recapture that competitive edge.”
#manufacturing
#aerospace
A Lamont administration fiscal report shows the state trails the region and country in a number of key economic indicators, including jobs, population growth, home sales and prices, and GDP.
#cteconomy
“I wanted to do something really big for Hartford and wanted to bring people together and have a spot in Hartford to do that,” says
@hfdathletic
chairman Bruce Mandell. The Athletic is growing pro
#soccer
in Connecticut and helping the
#community
.
"Strong urban cores are essential to Connecticut's ability to thrive, which is why we decided to locate this important new initiative in
#HartfordCT
," says
@StanleyBlkDeckr
CEO and president Jim Loree.
#manufacturing
.
@MayorBronin
kicks off
#CTeconomy
summit, tells 500 business leaders state “biggest risk to Connecticut is lack of courage to do big things—need to promote growth in urban centers.”
.
@GovNedLamont
today named
#aerospace
veteran Colin Cooper Connecticut’s first chief
#manufacturing
officer, responsible for coordinating public-private efforts for growing a vital economic sector. “It’s about breaking down the silos,” Cooper said.
A critical shortage of personal protective equipment and medical supplies—including masks, face shields, and gowns—threatens the safety of Connecticut's frontline
#healthcare
workers.
If you can donate, please do so now >>
#covid19
@cthosp
@UnitedWayofCT
The failure of wage growth to match inflation, along with slow job and GDP growth, reflect the
#CTeconomy
's ongoing struggles to recover from the 2008-2010 recession.
WATCH: Members of the Reopen Connecticut Advisory Group's business committee outline the state's initial steps toward reactivating the economy.
#smallbiz
#manufacturing
#covid19
Connecticut's state-run plan for cities and towns paid out $10.3 million more in claims than it collected in premiums last year, raising new concerns about public option
#healthcare
proposals.
"The bottom line is the bill sends a dreadful message to companies that are considering relocating or starting up here,"
@terrycowgill
writes. "The burdens will fall on the little people of the state’s struggling private sector. Sweet."
#smallbiz
#emplaw
The U.S. has now recovered 225% of all jobs lost during the 2008-2010 recession. Connecticut's recovery rate is 81%—one of just a handful of states yet to reach full recovery.
#cteconomy
The U.S. added 213,000 jobs in June, beating expectations. The unemployment rate ticked up to 4.0% as 601,000 Americans entered the labor force, and not all found jobs.
And we're live!
@johndankosky
talking with the one and only
@CTMirrorKeith
previewing Gov. Lamont's budget, Connecticut's ongoing deficit, and getting the state budget in the black. 📉💸
Thank you to the
@CTMirror
for putting on an information legislative preview series!
.
@StanleyBlkDeckr
’s Jim Loree says the best way to improve the state’s economy is to attract more taxpayers, not tax hikes.
“People are flocking to Connecticut in droves. This is our time.”
#RebuildCT
Good win for
@Bradley_Airport
—
@JetBlue
service to Cancún starts 11.18, and flights to LA, San Francisco, and Las Vegas begin a month later.
#RebuildCT
🇲🇽🕶️🚋 🎰
We’ve just released with
@MarcumLLP
our annual survey of Connecticut businesses. Essential reading for those invested in growing jobs and the
#cteconomy
.
“People have increasingly been coming here from Westchester County and New York City and a big reason is that taxes here are lower,” said one realtor. “To say, ‘Oh, by the way, we’re going to tax you more’—what’s the allure to come into Connecticut?”
@ChrisDipentima
In the last six years, the Labor Committee approved 75 costly workplace mandates and proposed an additional 75, all during a period of anemic job and economic growth. Today, our
#unemployment
rate is sixth highest in the U.S., with 74,300 fewer people working than in Feb. 2020.
.
@FoxwoodsCT
broke ground on the Great Wolf Lodge project, which Mashantucket Pequot chair Rodney Butler said will create 400 construction jobs and employ 500 people once it opens in 2025. "This is a dream the tribe has had for over 20 years," added CEO Jason Guyot.
#cteconomy
"It’s become too expensive for a lot of families to move here and or to stay and grow here,” says Patrick O'Brien, the organization's research and policy director. “That has hurt the state’s
#economy
and in turn the state’s budget.”
#affordability
#housing
#transformCT
2/2
The FDA has granted the
#COVID19
SalivaDirect test emergency use authorization and Yale is now working with
@jacksonlab
to implement the test for a broader audience.