News Times– The 68-page plan that would remake Connecticut’s tax structure and jump-start economic activity includes a picture of how the state is doing — horrendously, thank you — but not a lot of analysis of the measures it recommends.
Fred Carstensen
Connecticut’s New Stranded Tax Credit Program Aims to Unleash Investment
Hartford Business Journal– In 2014, Connecticut agreed to let United Technologies Corp. use up to $400 million in “stranded” research and development tax credits to keep and expand the presence of its Pratt & Whitney subsidiary in East Hartford.
Connecticut’s Economy Struggles to Recover
Hartford Business Journal – During the first quarter of 2017, Connecticut’s economy, as measured by real output or gross state product (GSP), contracted below where it was in 2004. After seven years of contraction from 2008 to 2014, the economy managed a modest 2 percent gain in 2015, only to retreat to essentially zero growth in 2016 and a sharp decline in early 2017.
Economic Diversity Cushions Danbury Region from Unemployment
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.
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.