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Channel: Economy Archives - Yankee Institute
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House passes data center bill under emergency certification

A bill granting up to 30 years of property and sales tax exemptions for data centers in Connecticut passed in the House of Representatives 133-13 under an emergency certification. Although the...

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Audit shows improper loan forgiveness, excessive tax credits by DECD

The Department of Economic and Community Development, which awards low-interest, forgivable loans and tax credits to businesses, has been all too forgiving and generous, according to a new audit. Loans...

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Is Connecticut still the richest state in the nation? Barely

Connecticut has for many years been labeled the richest state in the nation because of its highest-in-the-nation per capita income, but that may be rapidly changing according to figures from the U.S....

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Hartford to consider a universal basic income pilot program

The City of Hartford’s Court of Common Council voted in March to create a task force to assess the possibility of a universal basic income pilot program for some of its residents. The task force will...

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Connecticut businesses on the hook for $844 million in unemployment borrowing

Connecticut entered the COVID-19 pandemic with roughly half the money in its unemployment trust fund needed to withstand a typical recession and subsequently, the state had to borrow $894 million from...

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Finance Committee keeps menthol cigarettes, moves forward with flavored vape ban

As the federal Food and Drug Administration moves forward with plans to ban the sale of menthol cigarettes and flavored tobacco, Connecticut’s Finance, Revenue and Bonding Committee opted to give...

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BP sees green in TCI program as oil giant acquires nation’s largest forest...

International oil giant BP has been lobbying for Connecticut’s General Assembly to pass the Transportation and Climate Initiative program to lower transportation emissions, but the company could end up...

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Policy Corner: For CT jobs numbers, back to normal isn’t enough

Connecticut added 8,600 private-sector jobs in May, its biggest monthly gain since September, but the state has a long way to go to recoup its early pandemic losses.  The state Labor Department figures...

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Restaurant owner closes Fairfield location after struggling to find workers,...

After eight months of trying to hire staff, the owner of the small sandwich and burger joint Blue Cactus Grill closed his location in Fairfield with a message for Connecticut lawmakers:  “We hope the...

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Connecticut manufacturer faces difficulty in hiring as extended unemployment...

A Waterbury-based manufacturer of plastic medical devices says that for the first time they are having difficulty finding workers to fill the low-skill positions necessary to fulfill their orders and...

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BP sees green in TCI program as oil giant acquires nation’s largest forest...

International oil giant BP has been lobbying for Connecticut’s General Assembly to pass the Transportation and Climate Initiative program to lower transportation emissions, but the company could end up...

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Clik here to view.

Policy Corner: For CT jobs numbers, back to normal isn’t enough

Connecticut added 8,600 private-sector jobs in May, its biggest monthly gain since September, but the state has a long way to go to recoup its early pandemic losses.  The state Labor Department figures...

View Article

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Clik here to view.

Restaurant owner closes Fairfield location after struggling to find workers,...

After eight months of trying to hire staff, the owner of the small sandwich and burger joint Blue Cactus Grill closed his location in Fairfield with a message for Connecticut lawmakers:  “We hope the...

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Connecticut manufacturer faces difficulty in hiring as extended unemployment...

A Waterbury-based manufacturer of plastic medical devices says that for the first time they are having difficulty finding workers to fill the low-skill positions necessary to fulfill their orders and...

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Low wage employment in Connecticut remains down 32 percent

Connecticut’s employment numbers are trailing the rest of the country in all income groups as the state struggles to bounce back from the COVID lockdowns, but the jobs gap remains especially pronounced...

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State retirees to see pension bump as inflation jumps 6 percent

Retired Connecticut state employees will see a substantial bump to their pension payments as a result of increasing economic inflation. The Consumer Price Index for Urban Wage Workers and Clerical...

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Number of Connecticut businesses declined 6 percent in ten years, according...

Connecticut saw a 6.4 percent decline in the number of businesses over the course of a ten-year period during which the nation on average saw a 2.5 percent increase, according to a report by Commercial...

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Massachusetts ballot initiative could force TCI rollback

Massachusetts Gov. Charlie Baker signed on to the Transportation and Climate Initiative program without legislative approval, but he may soon need voter approval if Massachusetts is going to remain in...

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Environmental group hires more lobbyists for September as push for...

Save the Sound, one of Connecticut’s environmental advocacy groups pushing hard for the Transportation and Climate Initiative program, is ramping up their lobbying efforts in September, according to...

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CT’s Private-Sector Employment Recovers—To 2011 Levels

Private-sector employment in Connecticut topped 1.38 million in August, new data show, bringing employment just above January 2011 levels.  The figures, released by the state Labor Department, show...

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