Connecticut borrows nearly $50 million for businesses as credit ratings fall
As Gov. Dannel Malloy and the state bond commission raced through their votes on $350 billion in new borrowing Friday, Connecticut’s credit rating was downgraded by Fitch Ratings Agency, giving...
View ArticleMassachusetts officials discussed Aetna leaving Connecticut during talks with...
Boston Globe columnist Shirley Leung wrote last week that Hartford's worst-kept secret was Aetna's desire to get out of Connecticut and encouraged the insurance giant to relocate to Boston. The column...
View ArticleNo budget? Progress can still be made
For a minute let’s set aside Connecticut’s desperate need for a budget that gets us off the deficit rollercoaster and celebrate the legislative successes of this session. These are the kind of bills...
View ArticleConnecticut’s slow income growth tied to population decline?
Connecticut has experienced remarkably slow growth in personal income, according to a study conducted by Pew Charitable Trusts, and that slow growth may be tied to Connecticut's declining population....
View ArticleStanley Black & Decker CEO urges Connecticut lawmakers to avoid tax increases
In what is becoming an all-too-familiar occurrence, the CEO of a major Connecticut company issued a politely-worded piece asking state lawmakers to “take the steps necessary to support the long-term...
View ArticleLoss of top Aetna executives could cost Connecticut $3 million in tax revenue
Aetna assured Connecticut lawmakers that it will leave most of its employee workforce in Hartford and would only move its top executives to its new location in New York City. But even the loss of the...
View Article$100 doesn’t go very far in Connecticut, according to Tax Foundation study
Everyone knows that living in Connecticut is expensive, but how far will $100 get you in the Nutmeg State? A state-by-state study conducted by the Tax Foundation purports to answer that very question....
View ArticleDoes Connecticut’s apprenticeship ratio limit jobs for young people?
Connecticut’s apprenticeship program presents a great opportunity for young people like Jake, but constraints on the number of apprentices an employer can hire may limit that opportunity for many others.
View ArticleConnecticut’s growth in number of millionaires far below national average
Connecticut has long been known for having a high population of wealthy individuals, but according to a recent report Connecticut has fallen far behind other states in producing new millionaires. Among...
View ArticleConnecticut fails fiscal stress test: “substantially unprepared” for a recession
A financial stress test of all fifty states by Moody’s Analytics showed that Connecticut is unprepared should the country experience another recession - even a moderate one. Connecticut was one of the...
View ArticleConnecticut loses jobs for third month in a row
Connecticut lost 2,000 jobs during the month of September, according to the latest job numbers from the Connecticut Department of Labor. This is the third month of job losses in a row, largely erasing...
View ArticleConnecticut government spending grows faster than the state economy
Connecticut’s government spending outpaced the state's gross domestic product by a wide margin since 1990, according to a review of past figures compiled at U.S. Government Spending, an online database...
View ArticleConnecticut dead last for personal income growth, according to Pew
The personal income growth for Connecticut residents was the slowest in the nation in 2017, according to a report by Pew Charitable Trusts. Personal income in Connecticut for 2017 actually dipped .6...
View ArticleConnecticut lost $2.6 billion in 2015 as high-wealth residents moved out
Newly released data from the Internal Revenue Service shows a record loss of high-income tax filers and their families in 2015 following the state’s second largest tax increase. A total of $2.6 billion...
View ArticleOn A Side Note: The Victory Lap that Wasn’t
Despite the Commerce Department’s report that Connecticut’s economy had grown 3.9 percent during the third quarter, the state’s economy has actually shrunk over the past year.
View ArticleOn A Side Note: Connecticut’s one-way flight into folly
It’s easy to see the rationale behind the deal. How could offering pasty-faced Connecticut residents direct flights to Ireland fail to rake in the cash? But things didn’t quite take off as expected so...
View ArticleCEO commission offers mixed bag of tax cuts, increases, tolls and minimum...
The Commission on Fiscal Stability and Economic Growth — composed of Connecticut CEOs and business owners — released their much-anticipated recommendations today at the Capitol, which included a...
View ArticleConnecticut ranked 8th worst state to start a business
Connecticut ranked 43rd in the country in Wallethub’s annual ranking of Best and Worst States to Start a Business.
View ArticleHartford, New Haven and Norwich-New London make list of 50 cities losing...
Connecticut contains a mere 1 percent of the total national population across fifty states, but its metropolitan areas occupied three spots in 24/7 Wall Street’s list of cities residents are fleeing.
View ArticleConnecticut Borrowed $1.7 Billion for Economic Development and Its Economy...
Since 2011, Connecticut has bonded nearly $1.8 billion for economic development, but the effort has produced little effect on the state’s economy. During the seven year period from 2011 through 2017,...
View Article