CBIA: Economic Competitiveness Report Must Be Catalyst for Change

The findings from the McKinsey report on the state’s economic competitiveness emphasize the urgent need for Connecticut lawmakers to focus on fiscal stability and economic growth, the state’s largest business organization said today.
“This study found that while Connecticut has enviable strengths, we are also facing challenges that impact our ability to grow and compete regionally, nationally, and globally,” said Brian Flaherty, senior vice president of public policy, CBIA.
“Connecticut’s competitiveness is at stake–we must make our state a great place to work, live, and raise our families, and this report should be a catalyst for real change.”
The report highlights key challenges to Connecticut’s business climate–the state’s shaky fiscal fundamentals, negative national publicity, and unpredictable governance.
“Connecticut is a national leader with our educated, productive workforce, and great quality of life–but we need to apply our strengths to bend the trend where we lag other states,” Flaherty said.
“We have difficult but solvable challenges, only achievable when legislators take a serious look at improving our competitiveness and growing business confidence.
“Connecticut needs to grow. There is an immediate opportunity for the legislature to enact serious, long-term, sustainable budget reforms.
“Nothing would be a stronger confidence builder.”

CBIA is Connecticut’s largest business organization, with thousands of member companies, small and large, representing a diverse range of industries from every part of the state. For more information, please email or call Meaghan MacDonald (860.244.1957).