Legislators say a senior Lockheed Martin official told them in private meetings Monday that $200 million in incentives the company wants for its Sikorsky Aircraft subsidiary are needed to help offset the $400 million more it would cost to produce CH-53K helicopters in Connecticut in coming years rather than in competing states.
Connecticut’s political elite raced Wednesday to frame General Electric’s decision to abandon its 1970s-era campus in suburban Fairfield for a new global headquarters in downtown Boston as everything from merely disappointing to politically cataclysmic. Business feared politicians would draw the wrong lessons.
The challenge for state government, said economists and business leaders Wednesday, will be to find the resources to invest – in transportation, information technology and higher education – as the cost of public-sector retirement benefits spikes over the next decade to 15 years.
The annual business survey by the Connecticut Business and Industry Association was released Friday as the new state Commission on Economic Competitiveness begins assessing a business climate regularly described as dismal in national ratings. “The challenge for us is why,” said Joseph McGee, co-chairman of the commission.
Forbes ranks Connecticut 36th among the states as a place to do business. Others peg it as low as 47th. On the plus side, Bloomberg places it fourth on its list of innovative states. And Connecticut ties for second-lowest business tax burden measured against productivity. Does it matter?
Connecticut Mirror budget reporter Keith M. Phaneuf and Connecticut Business & Industry Association President Joe Brennan discuss the prospect of business tax increases in the next state budget, which would hurt the most, and whether companies would support Gov. Dannel P. Malloy’s transportation initiative this fall.
Look beyond the caregiving role of Connecticut hospitals and you will find a promising means of strengthening our state’s economy. In addition to being good for the health of residents, Connecticut hospitals are good for the health of business as well, contributing $21.9 billion annually to the state and local economies.
Unemployment remains higher than national and regional averages, and the workforce continues to shrink.