Using Data to Drive Economic Growth

Data alone can’t solve a challenge.

The real value comes from how leaders use it to identify problems, set priorities, and drive action.

Economic development leaders from Connecticut and around the country shared that message Sept. 17 at The Connecticut Economy conference in Hartford.

The event featured the release of the annual update to the CBIA Foundation for Economic Growth & Opportunity’s Connecticut competitiveness index.

The index provides key economic data points that can be used to better understand Connecticut’s economy and growth opportunities.

CBIA Foundation director Dustin Nord, Florida Chamber of Commerce president Mark Wilson, Ohio Chamber of Commerce vice president Rick Carfagna, and Economic Leadership’s Katherine Saunders discussed how business leaders and policymakers can use the data to better understand Connecticut’s economy and shape future growth.

Valuable Resource

Nord said the index gives business leaders and lawmakers resources to assess Connecticut’s economy and ask, “Where are we strong? Where do we still see challenges, and where do we need to go from here?”

“As leaders, business leaders, government leaders, having a great, healthy set of data really allows you to inform policymakers on you know what needs to change or what needs to be improved,” added Saunders.

“Having a great set of data allows you to inform policymakers on what needs to change,” Economic Leadership’s Katherine Saunders discusses how data can shape economic policies with CBIA Foundation’s Dustin Nord, @OhioChamber's Rick Carfangna, and @FLChamber’s Mark Wilson. pic.twitter.com/ZCD1WInmg5

— CBIA (@CBIANews) September 17, 2026

As the panelists noted, the numbers are only a starting point.

“Data is useless unless it is helping you with where you’re trying to get to,” Wilson said.

Panelists emphasized that successful economic development efforts require focus.

Saunders said the most competitive states aren’t trying to improve everything at once.

Prioritizing Impact

She said looking closely at the data can help leaders prioritize areas and issues with the greatest impact.

“You can’t boil the ocean,” Saunders said.

“Oftentimes, I find that people are consumed by maybe a policy agenda because of a squeaky wheel or certain issues that are bubbling up in a state.

“But actually, when you look at the data, the issues that you’re focused on aren’t really where you need to be.”

Carfagna added that the most valuable metrics are those policymakers can directly influence.

“The number one metric is, it’s got to be actionable,” he said.

“I have to be able to sit down with a state legislator and say, ‘You have the ability to move the needle up or down depending on how you’re legislating.'”

Workforce Challenges

Workforce development emerged as one of the panel’s most discussed topics.

Despite Connecticut’s highly educated workforce and nationally recognized colleges and universities, panelists pointed to growing concerns about whether employers can find workers with the skills they need.

“You’ve got this highly educated state, incredible university programs, college programs,” Saunders said.

“But where your needs are at the high school or GED level.”

Saunders noted that many employers are struggling to fill positions that don’t necessarily require a four-year degree.

“There are so many people in this state who are underemployed, and that is a real way to lift up your entire economy,” Saunders said.

Career Opportunities

Carfagna described a similar challenge in Ohio.

He said employers increasingly prioritize skills and credentials over traditional degree requirements when hiring.

“Employers anymore, they don’t really care if you have a bachelor’s degree in political science like me,” Carfagna said.

“We need to kind of break that stigma.”

Carfagna

“Can you operate heavy machinery? Are you certified in this type of robotics?”

Carfagna said states must continue elevating career and technical education opportunities while addressing outdated perceptions about vocational training.

“We need to kind of break that stigma,” he said.

Turning Data into Strategy

Wilson noted that Florida is using data to address a similar workforce challenge: adults without high school equivalency credentials.

He said Florida has 1.8 million adults without a GED.

Many of them have years of work experience but lack credentials to pursue higher-paying positions.

“Getting people GEDs so that they can get the certifications they need, so that our employers have the jobs filled with talent that they need, becomes a strategy, not a data point,” Wilson said.

Energy Costs

The conversation also highlighted energy costs, one of the most pressing economic issues facing Connecticut and states across the country.

“Every state in this country is having energy challenges right now,” Saunders said.

She said states making progress are bringing utilities, energy providers, businesses, and policymakers together to develop long-term solutions rather than focusing on a single technology or energy source.

“You don’t need just one type of thing,” Saunders said. “We need everything right now if we are going to sustain this economy.”

Ohio is experiencing many of those challenges firsthand as manufacturing growth and new data centers increase demands on the electric grid.

“These are good problems to have,” Carfagna said. “But when you put that much load onto the grid, it makes it unstable.”

Wilson said states must consider electricity costs alongside the stability of the system serving employers and residents.

“You got to also know that businesses need reliable and predictable electricity,” he said.

Looking Beyond Rankings

As states work to improve economic metrics and boost their competitiveness, they often turn to rankings to measure progress.

But the panelists cautioned rankings alone can create a misleading picture.

Carfagna pointed to Ohio’s recent recognition as the top state for business in CNBC’s 2026 America’s Top States for Business study.

“We’re still not where we want to be.”

Carfagna

“CNBC just ranked us the number one state to do business, so we’re very proud,” he said.

“But when you deconstruct that and break it down into subcategories, we’re 35th now in workforce. We’re still not where we want to be.”

Connecticut climbed five spots this year to number 23 in CNBC’s study, earning high marks for education and quality of life, but lower rankings for cost of doing business and cost of living.

‘Connecticut vs. Connecticut’

Nord noted that the competitiveness index offers a similar snapshot, highlighting where the state stands across measures ranging from workforce and education to housing, energy, affordability, and population trends.

“I think we often talk about a lot of the challenges and what we see in the data, but there are some really great numbers,” he said.

“It’s Connecticut versus Connecticut.”

Wilson

Wilson argued that it’s important that states focus less on how they compare with others and more on whether they are making meaningful progress toward their own goals.

Instead, leaders should identify the gap between where Connecticut is today and where it wants to be in the future, then use data to help close it.

“It’s Connecticut versus Connecticut,” he said.

Defining Success

So what does success look like for Connecticut over the coming years?

Wilson said it’s important for groups like CBIA to collaborate and partner with policymakers to use the data to build a blueprint for growing the state’s economy.

“There’s all this data out there,” he said. “What are the things that are going to matter most to Connecticut to go from a $300 billion GDP to a $500 billion GDP.”

Carfagna said it’s critical to lean into the state’s challenges.

“Nurturing those companies that have made this state what it is—that to me would be a win.”

Saunders

“And that involves peeling back the onion a little bit,” he said.

Saunders pointed to data showing Connecticut’s challenges are prompting some businesses to consider expanding elsewhere.

“For me, a win would be more on the business retention and expansion side,” she said.

“Nurturing those companies that have made this state what it is and then providing the workforce, the quality of life—that to me would be a win.”