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CEO Guide to Site Selection

Connecticut

LIVING LARGE IN LIFE SCIENCES

Connecticut’s life sciences and biotech industries continue to blossom, fueled by talent and the presence of two major research universities. In May 2022, Nuritas announced it would locate its North American headquarters in Connecticut, near Yale University. German biomedical research institute BioMexX announced in January a partnership with AbbVie and the opening of a facility in New Haven. Minnesota-based Ryan Companies and Henrich Partners of Stamford are also planning HealthTech Park in Branford, a 500,000-square-foot lab space and R&D facility. “The life sciences corridor is growing organically, and we’re seeing lots of inbound interest from companies that want to be a part of the ecosystem,” says Peter Denious, CEO of Advance Connecticut.
“Connecticut is committed to receiving its first offshore wind farm.... This will not only begin a new era of renewable energy in our state, but it also means that hundreds of in-demand jobs will be supported in the New London region, bringing a positive economic impact to the area and setting Connecticut on a path to become the premier commercial east coast hub for this sector."
Ned Lamont
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of adults 25 years of age and older graduated high school

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

No

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

JobsCT Tax Rebate Program: Offers a tax rebate equal to 25% of the withholding taxes from net new employees or 50% if the company locates in a distressed municipality or Opportunity Zone.

Urban and Industrial Site Reinvestment Tax Credit: Offers a dollar-for-dollar tax credit on qualifying projects with a minimum $5 million investment in distressed communities and $50 million in all other communities.

Connecticut Bioscience Innovation Fund: A $200million, 10-year program that offers focused financial assistance to startups, early-stage businesses, nonprofit sand accelerated universities.

Angel Investor Tax Credit: Offers a tax credit of up to 25% of the investor’s cash investment for investments of $25,000 or more in a qualified Connecticut business.

EDCs

Connecticut Department of Economic and Community Development
portal.ct.gov/DECD

AdvanceCT
advancect.org

Metro Hartford Alliance
metrohartford.com

Connecticut Economic Development Association
cedas.org

HIGHLIGHTED PROGRAM OR INITIATIVE

Through the American Rescue Plan Good Jobs Challenge grant from the U.S. Department of Commerce, the State of Connecticut was awarded $23.9M to support 10 Regional Sector Partnerships (RSPs) that are training and placing more than 2,000 people, particularly from historically-underserved communities, in high-quality jobs in four priority sectors—manufacturing, healthcare, IT and bioscience. RSPs are coalitions of industry-aligned employers who define and develop an agenda for developing talent pipelines with support from public agencies, K-12, higher education and community-based organizations.

BIG DEALS

  • General Dynamics Electric Boat announced in January2022 a $400 million expansion and 2,000 new jobs in New London.
  • ASML announced in May 2022 a $200 million expansion that will add 1,000 new jobs.
  • Cigna announced in June 2022 a $386 million renovation of their Bloomfield facility.
  • Yale New Haven Health announced in August 2022 an$838 million center in New Haven.
  • FullStack Modular announced in March 2023 the relocation of its headquarters from Brooklyn to Hamden and added 100 new jobs.
  • Blueprint Robotics announced in March 2023 a new facility and 120 new jobs in Windsor.

BIG COMPANIES

14 Fortune 500 companies headquartered in state, including:

  • Cigna
  • Charter Communications
  • Philip Morris International
  • Hartford Financial Services Group
  • Stanley Black & Decker
  • Synchrony Financial
  • Bookings Holdings
  • Otis Worldwide
  • Amphenol
  • United Rentals
Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.