DOING BUSINESS IN CONNECTICUT

AdvanceCT
Cathy Scangarella, Executive VP, Business Development
860-571-6219
cscangarella@advancect.org
www.advancect.org

Doing business in ConnecticutConnecticut’s highly skilled workforce, quality of life, and culture of innovation has positioned our state as an industry leader in aerospace and defense, precision manufacturing, insurance, medical devices, and bioscience R&D, among others, drawing companies of all sizes looking to expand and thrive.

— Dan O’Keefe, Commissioner,
Connecticut Department of Economic and Community Development
Doing Business In Connecticut
Downtown Hartford, Connecticut (Photo: Adobe Stock / SeanPavonePhoto)

  TARGETED GROWTH SECTORS

Aerospace and Defense: From Sikorsky helicopters and Pratt & Whitney engines to Electric Boat nuclear submarines, Connecticut is the #1 state for government defense contracts per capita.


Life Sciences: From the artificial heart to stem cell study to genome research, Connecticut demonstrates its commitment to serving as a center for biomedical advances. Connecticut secured more than $742 million in National Institutes of Health (NIH) funding in 2022, the 6th most per capita in the U.S.


Insurance and Insurtech: Connecticut is the #1 location for the insurance industry in North America. Insurance is one of Connecticut’s longest standing industries and largest employers.

  TOP PROJECTS

COMPANY
CITY
JOBS
General Dynamics Electric Boat
Groton
2,000
Amazon
Windsor
1,500
Tradewind Aviation
Oxford
230
Accenture
Hartford
200
Eppendorf North America
Enfield
200

FEATURED LOCATIONS

Meriden, CTCentrally located in Connecticut, Meriden, a city of approximately 60,000, is convenient to major highways, offers aggressive business incentives, a city-owned airport, innovative schools, the highest percentage of park land of any city in New England, walking trails and unique festivals. We invite you to Meriden, where opportunity awaits!

MetroHartford AllianceThe MetroHartford Alliance is an investor-based economic development partnership focused on business development and growth, retaining, and attracting jobs and talent in targeted sectors, ensuring a strong urban core, and promoting the Hartford Region. The Hartford Region is home to global leading companies in insurance-financial services, aerospace/defense, advanced manufacturing, broadcasting sports media, logistics and health care.

  FAST FACTS

Population (July 2022 est.): 3,626,205¹
Largest Cities (2020): Bridgeport (148,271); Stamford (135,685); New Haven (133,966); Hartford (120,957); Waterbury (114,159)¹
Real GDP (2022): $252.5 billion²

¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce

  BUSINESS INCENTIVES

JobsCT Tax Rebate Program: A tax rebate equal to 25% of the withholding taxes from net new employees, or 50% if company locates in a distressed municipality or Opportunity Zone. Minimum of 25 new jobs created. Salaries must be 85% of the median household income of municipality where jobs will be located.
Connecticut Bioscience Innovation Fund: A $200 million, 10-year program that offers focused financial assistance to startups, early-stage businesses, nonprofits, and accredited universities.

  TOP BUSINESS FACILITIES RANKINGS

Top 5 Aerospace/Defense
2023 State Rankings
Top 5 Tech Talent Pipeline
2023 State Rankings
Top 5 Medtech/Medical Devices
2023 State Rankings
Top 10 Life Sciences Growth: New Haven
2023 Metro Rankings
Top 10 Manufacturing Hubs (Small): New London
2023 Metro Rankings
Top 10 Tech Talent Leaders (Labor Pool Under 50K): Hartford
2023 Metro Rankings

From the July / August 2023 issue of Business Facilities

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