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Connecticut is the 44th Best State for Business 2014

A Gallup poll shows that 76% of Connecticut residents feel the taxes they pay are too high. In addition, the New Britain Herald reports that there are 5,000 fewer businesses today than there were five years ago, as a result of the Great Recession.

Previous State: Hawaii Next State: Michigan

No. 44 Connecticut

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 0.9
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): -2.6

Unemployment

  • Unemployment Rate Dec. 2013 %: 7.4
  • Comparison with Nat’l Rate (6.70%): 0.7

Domestic Migration

  • Domestic Net Migration 2013: -17,224
  • Rank: 43

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 8,500
  • State & Local Gov’t Employees per 10k Residents: 537.4

State-Local Tax Burden

  • Rate (%): 12.3%
  • Compared to Nat’l Avg. (9.9%): 2.41%
Key Companies
  • General Electric Company
  • Xerox Company
  • Aetna Corporation
  • The Hartford Financial Services
  • Stanley Black & Decker
Development Trend Indicator: Negative
Embrace of minimum-wage boost pushes business to lower rung in Dante’s inferno.
CEO Comments
“Connecticut used to be very business friendly and [used to] have a competitive advantage over NY but it has squandered that lead.”


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon
JP Donlon is the Editor-in-Chief of Chief Executive magazine.