CBIA's 2019 Survey of Connecticut Businesses—the 18th annual edition, made possible this year through the generous support of Marcum LLP—coincides with a period of tremendous opportunity for the state.
That sense of opportunity is somewhat clouded by ongoing uncertainty, particularly around the structural issues impacting Connecticut’s economic recovery and the whiplash consequences of federal trade policies.
Connecticut companies continue to grow—70% reported profits in 2018—yet this year's survey shows their outlook for both the state and national economies is tempered.
This year's survey was in the field from mid-June through late July, after the 2019 General Assembly passed two major workplace mandates—paid family and medical leave and the $15 hourly minimum wage—and a two year budget that relied almost exclusively on tax and fee increases to close a multi-billion dollar deficit.
Businesses are casting a hopeful, if not wary eye to the future. They see the state's tremendous economic potential and their responses to this survey not only offer valuable insights into the challenges they face, but areas of opportunity for policymakers to embrace.Marcum_19