Business Climate
Streamlining Regulations: Paving the Way for Business Growth in Connecticut
Connecticut’s business climate is at a crossroads. Stakeholders have identified a highly burdensome regulatory environment as a significant barrier to growth. By closely examining and streamlining these regulations, Connecticut can create a more business-friendly environment that encourages investment and innovation.
The Opportunity Connecticut plan identifies our current business climate as a top focus area with the goal of improving Connecticut’s overall business climate
and the state’s reputation as a place to do business.
Recommendations
While not intended to be all-inclusive, the following recommendations are based on extensive stakeholder input, thorough research, and a detailed study of states with exemplary economic development models. These recommendations aim to create a more competitive and vibrant business environment in Connecticut:
Business
Climate
Improve Connecticut’s business climate by updating regulations, simplifying the tax code, reducing licensing requirements, enhancing affordable health insurance options for small businesses, and fostering executive-level coordination with stakeholders.
Support Public Sector Efficiencies
Enhance public sector technology investments, streamline processes, support state employee reforms, create efficient project review timelines, and foster regional collaboration to improve business resources and attract federal funding.
Drive an Economic Development Focus Across
All State Agencies
Create a unified economic development vision by establishing key leadership roles, expanding DECD authority, streamlining business retention efforts, promoting the state’s business benefits, and aligning with various economic stakeholders.
Catalyze
Innovation
Aim to bolster Connecticut’s innovation and R&D leadership by enhancing policies like a top-tier R&D tax credit, implementing capital investment incentives, engaging high-tech sector leaders, and revising state programs to support mid-size firms.
Invest in Connecticut's Future
Want to Participate?
We invite you to join our steering committee and contribute your valuable insights, recommendations, and feedback to help shape Connecticut’s economic future. Your participation is crucial in ensuring our initiatives are effective and inclusive, driving sustainable growth and prosperity for all.
Questions?
For more information or to get involved, please contact foundation director Dustin Nord
CBIA IS FIGHTING TO MAKE CONNECTICUT A TOP STATE FOR BUSINESS, JOBS, AND ECONOMIC GROWTH. A BETTER BUSINESS CLIMATE MEANS A BRIGHTER FUTURE FOR EVERYONE.