Three keys to economic growth and job creation in Connecticut

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Three keys to economic growth
and job creation in Connecticut

Connecticut has enormous potential for economic growth and job creation, but it’s falling short,” says CBIA President and CEO John Rathgeber.

He says the state can encourage more businesses to invest in facilities and jobs here by making improvements in three priority areas, as outlined in CBIA’s Action Plan for Economic Growth & Job Creation. The priority areas are:

Competitive costs. Companies need to be able to price their products and services competitively in the global marketplace. Our business costs, currently sixth-highest in the nation, must be brought in line with those of competitor states. New taxes and mandates are the kinds of costs that would weaken our prospects for economic competitiveness. Besides taxes, cost areas that need to be addressed are those for health care benefits, workplace costs (especially for workers’ and unemployment compensation), energy, environmental compliance, and economic development.

Dependable infrastructures. Moving people and products has to be easy, flexible and dependable. Power to run our businesses should be affordable and readily available. And state-of-the-art telecommuniocations systems are necessary to link us to the global economy. Connecticut needs t continually upgrade its transportation, energy and telecommunications economic support networks.

A skilled workforce. Highly skilled employees and an education pipeline able to ensure a steady supply of future talent are the hallmarks of a competitive economy. Connecticut must equip its young people for the workforce and meet their needs as an affordable, attractive place to live.