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September 2004 — Vol. 82, No. 7

FROM THE PRESIDENT

Strengthening Connecticut’s recovery

By Kenneth O. Decko

CBIA president and CEO

 

Between terrorism concerns and rising oil prices, it may seem that the obstacles to economic recovery are ones that Connecticut’s political leaders cannot control. While these geopolitical events are certainly out of their sphere of influence, there is still a lot the state can do to help our businesses weather economic troubles and prosper as the national recovery strengthens.

The state should adopt policies that promote economic vitality by encouraging business investments and job creation in Connecticut. For example, the state should:

  • keep state-influenced business costs as low as possible — that goes for taxes and fees, workers’ and unemployment compensation, health benefits, and energy costs;
  • use the budget surplus (projected as of Aug. 2 to be $202.2 million) to begin restoring the Rainy Day Fund so the state has a financial cushion to rely on during any future economic downturn;
  • make sure our schools prepare young people with the skills needed to succeed in a technology-based society and workplace; and
  • invest in needed improvements to Connecticut’s transportation and energy infrastructures.

We’re encouraged by Gov. Rell’s recent commitment to expanding the state economy and creating jobs. Noting that our economy is still fragile, she said, “I will work in the coming weeks and months to make Connecticut a national leader in economic growth and job creation.”

Although our economy is growing and beginning to add jobs, we still lag behind the national recovery. We may be doing OK, but we could be doing a whole lot better.