economic development

Recent Posts

A secret, public-private campaign lures Infosys to Hartford

Infosys, an India-based information technology company undergoing a major expansion in the U.S., named Hartford on Wednesday as one of its new technology-and-innovation hubs, promising an estimated 1,000 new jobs to a city struggling to broaden its employment base and a morale boost to a state intent on drawing a share of the next generation of technology jobs. The selection came with a great back story. Continue Reading →

Filed under: , , , , , , ,

For CT, strides and stumbles in quest to spur bioscience industry

Connecticut is losing more bioscience jobs than it is gaining, despite a sizable jump in research and development jobs over the last three years. Alexion’s departure is the latest in a line that has undercut bioscience growth. Nonetheless, many say New Haven is nearing a “critical mass” after years of effort by Yale and a new cluster is emerging in Farmington after more than $1 billion in state investment. Continue Reading →

Filed under: , , , , , , ,

State historian: CT’s hardship after the Revolution provides lessons for today

When Connecticut joined 12 other colonies in declaring independence from Great Britain on July 4, 1776, little did it know that it would emerge from the Revolutionary War facing an unprecedented structural economic crisis that would threaten the state’s fiscal future. How Connecticut emerged from that crisis can serve as lesson for the structural economic challenges the state faces today, says Walter W. Woodward, the state historian. Continue Reading →

Filed under: , , , , , , ,

A unanimous House votes for oversight bill vetoed last year

Connecticut’s legislators acted Wednesday for the second time in two years to require independent oversight of the millions of dollars in grants, loans, tax credits and other economic incentives extended to business, often a political flashpoint as states compete to attract and keep jobs. Continue Reading →

Filed under: , , , ,

GOP: Deal to keep Sikorsky in Connecticut is good and bad news

Most Republican legislators are expected Wednesday to support the Sikorsky Aircraft incentives deal negotiated by Gov. Dannel P. Malloy as a smart investment, while simultaneously arguing that the deal is necessary because of a high cost of doing business in Connecticut that they blame on the legislature’s Democratic majority.
Continue Reading →

Filed under: , , , , , , ,

In a turbulent year, Malloy makes a soft landing at Sikorsky

STRATFORD — With a press conference Wednesday of the lawn of Sikorsky Aircraft, Gov. Dannel P. Malloy took a step toward rewriting his economic legacy from being the governor blamed for driving away General Electric and hundreds of headquarters jobs to the one who stabilized Connecticut’s aerospace industry for a generation. Continue Reading →

Filed under: , , , , , , ,

Sikorsky, Malloy cut tentative deal to produce new helicopter in Connecticut

Gov. Dannel P. Malloy and Lockheed Martin announced a tentative deal Monday to produce a new generation of Sikorsky heavy-lift helicopters in Connecticut at the cost of $220 million in financial incentives from the state and an agreement with its union workforce. The General Assembly is tentatively scheduled to consider the deal in special session Sept. 28. Continue Reading →

Filed under: , , , , , , ,

House Democrats outline agenda with a pro-business flavor

EAST HARTFORD — Facing an electorate that gave the General Assembly a 24-percent approval rating, the House Democratic Majority unveiled a campaign framework Tuesday that focuses on job creation and fiscal responsibility and downplays labor issues, such as raising the minimum wage and making the tax structure more progressive. Continue Reading →

Filed under: , , , , , ,

State to help finance Electric Boat expansion

WASHINGTON – Gov. Dannel Malloy is set to announce the Department of Economic and Community Development will provide Electric Boat $10 million in assistance to help the submarine maker purchase one of the buildings that housed Pfizer before the pharmaceutical company moved out of the state, a congressional source said. Continue Reading →

Filed under: , , , , , , ,

Malloy, Foley on economy: some harmony amidst discord

Despite their seeming ability to disagree about almost everything, Gov. Danel P. Malloy and Tom Foley share plenty of common ground about Connecticut’s future economic development. But it’s their respective track records that lead them to butt heads most frequently.
Continue Reading →

Filed under: , , , , , , ,