Helping companies grow or making it hard to survive? Time will tell as session nears finish

(April 11, 2008) “Our employees and their families, our suppliers, our customers, and our community are all depending on us,” says Joe Vrabely, co-founder and president of Atlantic Steel and Processing in Waterbury. “That’s why state legislators should ask themselves, before voting on a bill affecting business: ‘Will it help a company like ours grow? Or make it more difficult for us to survive?’”

These are important questions that all lawmakers should ask — and answer — before they vote on legislative proposals. That’s because so much of what they do affects Connecticut businesses and their ability to compete and succeed here.

This was clearly seen when Expansion Management magazine, which provides information to help companies make decisions on where to locate their operations, released an alarming report in 2007. In it, Connecticut was ranked last, 50th in the U.S., for its “legislative quotient” — that is, how the legislature is affecting the state’s business climate.

This “legislative quotient” study is a wake-up call and opportunity for lawmakers to make economic growth, job creation and improving the state’s business climate its top priorities in the 2008 session.

The high cost of doing business in Connecticut is a huge issue facing businesses. Employers say reducing these costs through tax and regulatory reform and encouraging new business formations with incentives will create a better economic climate. This, along with greater attention to Connecticut’s transportation and skilled workforce needs — and avoiding proposals that will increase costs — will help businesses grow and create more jobs in Connecticut.

Considering the uncertainty of the economy today, Connecticut’s business climate is not likely to get better soon — unless legislators decide to act positively.

This week we take a look at some of the key proposals that remain in this year’s legislature, some of which will improve Connecticut’s business climate and help reduce some costs, and others that be harmful to employers in the state.