Greenwich Time – Since 2002, and throughout the Great Recession, Danbury and nearby towns enjoyed an unemployment rate two to three percentage points lower than the nation, the state and the cluster of cities and towns along the Gold Coast.
CCEA
Norwich Public Utilities is Economic Engine for Norwich, Region
The Day – Norwich Public Utilities (NPU) has always done well when evaluated by typical metrics for a utility company. Our rates are often lower and always competitive with investor-owned utilities; exceptional storm response is a point of pride within the organization, and our customer service is available to Norwich residents every minute of every day of the year.
But a recent study by the Connecticut Center for Economic Analysis (CCEA) measuring the economic impact of NPU in Norwich and New London County provides a new way of appreciating the value of NPU. The CCEA is a University Research Center in the School of Business at the University of Connecticut.
GOP Tax Bill: A Tale of Two Middle Classes
Connecticut Post – President Trump’s advisers argue that if the Republican tax plan is viewed in its entirety, its benefits outweigh the loss of the state-and-local tax (SALT) deduction in states like Connecticut.
No State Budget Deal in Sight
New Haven Register – Connecticut might be the last state to be without a budget, but plenty of areas around the country struggled with failed revenue projections, the lingering effects of the 2008 recession and changing political dynamics.
Deals Create Foundation for Growth at United Rentals
Stamford Advocate – United Rentals announced last month its latest acquisition. The 10-figure deal for Miami-based Neff Corp. hardly represented the company’s first purchase, and it will not be its last.
Cities, Towns Face Cuts in State Budget Crisis
CT’s Recession Lasted Much Longer Than You Think
Hartford Business Journal – While many people consider the Great Recession to have lasted only two years, Connecticut’s economic malaise lasted much longer. In fact, measured by real output or gross state product, Connecticut’s economy actually shrank for seven years, even as the state regained jobs lost during the Great Recession.
Facebook Group Urges Preservation of Old Stanley Buildings
New Britain Herald – When it was announced that Stanley Black & Decker was planning to demolish all nine buildings it owns east of Curtis Street and south of Myrtle Street, some residents celebrated an opportunity revitalize the corner, while others were upset that their beloved city would be losing a bit of its history.
Foxwoods June slots revenue climbs 2.7%
Norwich Bulletin – Foxwoods Resort Casino’s slot-machine revenue for June rose 2.7 percent compared with a year earlier but was down compared with May.
Mohegan Sun reported an 8 percent revenue gain for June, making it the first time in three months that both casinos reported revenue gains in the same month. But don’t break out the champagne just yet.
The increases say more about the strength of economies in neighboring states than about Connecticut’s situation, said Fred Carstensen, a University of Connecticut finance professor who is director of the Connecticut Center for Economic Analysis.
OP-ED | Big Ideas Are Needed to Grow the Economy and Solve the Budget Mess
CT News Junkie – The recent economic news in Connecticut is Dickensian.
On the one hand, it’s the best of times: “The formal opening [on June 2] of the $60 million refurbished United Technologies Corp. research center handed Gov. Dannel P. Malloy a much-needed opportunity to celebrate some good news.”
On the other hand, it’s the worst of times: “An Aetna spokesman said [on May 31] the company is in ‘negotiations with several states regarding a headquarters relocation with the goal of broadening our access to innovation and the talent that will fill knowledge economy-type positions.'”