Connecticut is the 44th Best State for Business 2014

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

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