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Inward Investment Guides

Leading Locations for 2014: The MSAs with Strongest Prime Work Force Growth

Dale D. Buss, Staff Editor,  (Q2 2014)
A yawning gap has developed between millions of potentially available workers and the increasingly sophisticated skills they would require to qualify for today’s generally tech-oriented jobs. More

Connecticut Direct Financial Incentives 2014

Area Development Online Research Desk (Q1 2014)
Connecticut's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. More

Regional Report: Incentives Attracting Firms to the New England States

Karen Thuermer (Directory 2014)
Some new and creative incentive programs are being provided in the Mid-Atlantic States to help drive the region’s high-tech and other industries. More

Leading Locations for 2013: The New England MSAs

Area Development Magazine Special Presentation (July 2013)
The number-one Leading Location in the New England region is Framingham, Massachusetts, which has been recognized for its high quality of life and high-tech work force. Three other Massachusetts MSAs also place on the top-10 list for the region — Boston-Cambridge-Quincy, Barnstable Town, and Peabody. More

Regional Review: New England States Target Industry Niches

Mali R. Schantz-Feld (Location USA / April 2013)
New England’s industry strengths are derived from professional business services, software and high-tech advanced manufacturing, product and component parts, and suppliers to the auto, computer, and aerospace and defense industry. More

Which States Lead in the “New Economy”?

Area Development Online Research Desk (December 2012)
It’s been more than three years since the Great Recession ended, and only six states have regained employment levels enjoyed prior to the recession, while 17 states are still more than 5 percent below their pre-recession employment levels. This is according to The 2012 State New Economy Index from the Information Technology and Innovation Foundation (ITIF). More

Rural Jobs Challenge Awards Encourage Innovative Partnerships

Beth Mattson-Teig (Fall 2012)
The grants, which were awarded in August, are part of a national competition aimed at encouraging job creation and economic growth in rural communities across the country. More

Regional Review: New England States Are Well Positioned for Economic Growth

Mali R. Schantz-Feld (August 2012)
New England touts a long history of tradition, independence, strong character, and academics. The slow but evident economic recovery of the New England States reflects the persistent determination of its citizens and their resilience in the face of adversity. More
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News Items
Around The Web
Studies/Research

CONNECTICUT at a glance

POPULATION: 3,574,097 (2010)

LABOR FORCE: 1,902,900 (August 2012)

RIGHT TO WORK: No

TRADITIONAL INDUSTRIES:Manufacturing, insurance, shipbuilding, transportation, machine tools, jet engines, submarines, helicopters, financial services, health services, biotechnology, pharmaceuticals, telecommunications, software, tourism, precision manufacturing

EXPANDING INDUSTRIES: Aerospace and defense, insurance and financial services, instrumentation and medical devices, bioscience and pharmaceuticals, alternative energy (including fuel cells), film and digital media

COLLEGE GRADUATES: (Age 25 and over; Bachelor's degree or higher): 36% (2011)

BASIC BUSINESS TAXES:
Corporate Income Tax: Corporation Business Tax: 7.5 percent of net income of corporations; 100 percent exemption on data-processing equipment; R&D carryforward tax credit; R&D tax credit exchange for cash

Sales and Use Tax: Retail sales or leases of tangible personal property and certain services are subject to sales and use taxes at a 6.35 percent rate with some exceptions.

Property Tax: Rates vary among local jurisdictions and are based on actual value of real and personal property; in practice, property is assessed at 70 percent of value.

BUSINESS INCENTIVES:
Connecticut Department of Economic and Community Development:
• Incentive-driven loans

• Urban and Industrial Site Investment Tax Credit Program

• Enterprise Zone Program

• Job Expansion Tax Credit

• Industrial Parks Program

• Insurance Reinvestment Tax Credit Program

• Corporate tax credits

• Brownfield liability limits

• Work force development and job training assistance

Connecticut Innovations, Inc.:
• Direct loans

• Loan guarantees

• Low-cost SBA 504 loans

• Tax-incremental financing

• CT SBIR Office

• Pre-seed support services

• Connecticut BioSeed Fund

• Eli Whitney Fund

• Connecticut Clean Tech Fund

• BioScience Facilities Fund

Principal Manufacturing industries

  • Transportation Equipment
    25.6%
  • Fabricated Metal Products
    17.7%
  • Machinery
    8.8%
  • Computer & Electronic Products
    8.2%
  • Chemicals
    7.5%
  • Other Manufacturing Industries
    32.2%