Regional Report: Northeast

A state-by-state look at what the Southwest has to offer businesses.

Pennsylvania (No. 43): Unemployment Uptick

After keeping below the national unemployment rate since the start of the Great Recession, Pennsylvania rose above it in September 2012 and is still struggling to restore jobs lost since late 2007. Hydraulic fracking of the Marcellus Shale formation has created new jobs and generated enormous wealth, as well as produced turbulence and unexpected downsides. Natural gas prices have dropped. The state’s key industries, including Energy, Advanced Manufacturing, Technology and Agri-business comprise a $570 billion economy, sixth in the nation. Education and healthcare continue to expand, and tourism is on the rise. In terms of tax burden, the Tax Foundation ranks Pennsylvania 10th highest in the country and 24th on its Business Tax Climate Index. The Keystone State spends around $5 billion a year in order to attract or retain companies, according to The New York Times. Sales tax refunds and corporate tax credits are most popular, targeting manufacturers in particular.

Connecticut (No. 44): Hampered by High Taxes

Connecticut’s economy is shrinking. The Nutmeg State ranks 50th in the Department of Commerce’s Bureau of Economic Analysis. High taxes, budget gimmicks, regulations and unfunded government pension liabilities exasperate business owners and entrepreneurs across the state. Employment growth post-recession continues at about two-thirds the national rate, set back by ongoing job loss in the finance and insurance sectors, traditionally Connecticut’s wheelhouse. The Tax Foundation ranks Connecticut’s tax burden 3rd highest in the country, and ranks the state 42nd on its Business Tax Climate Index. Connecticut spends over $850 million per year on incentive programs, according to The New York Times. Most popular programs are sales tax refunds and exemptions, and corporate income tax credits.

New Jersey (No 46): Housing an Albatross

New Jersey trailed the nation in most economic indicators in 2013. Housing was a sore point; the Garden State has the second-highest percentage of homes in foreclosure than any other state after Florida. Real GDP rose at barely half the national rate. Job growth lags the U.S. pace; employment remains submerged below its pre-recession peak. Even the IT sector has retreated, disgorging 3,600 jobs. Hurricane Sandy destroyed enormous swaths of the state’s housing and infrastructure, providing construction jobs—albeit temporary—in its aftermath.

On the bright side, manufacturing exports are growing again. Healthcare, logistics and life sciences companies are posting Help Wanted signs. Geographically, the state’s position between New York City and Philadelphia benefits companies that need access to both markets; it’s also a strong location for national distribution, says incentives advisor Jim Damicis, a senior vice president with Camoin Associates. New Jersey executives gripe about taxes, and the Tax Foundation bears them out; the state is ranked second highest of the 50 states, and its business tax climate ranks second to last. Gov. Chris Christie has proposed 10 percent corporate tax cuts and a 10 percent property tax credit in—he has said little on the subject. New Jersey spends nearly $700 million per year on its Grow NJ incentives program. Grow NJ “is gaining a lot of momentum in the business community,” says Adam Tkaczuk, Northeast practice head for business incentives at Duff & Phelps. “They’re tough but fair, and projects are well-funded once you qualify.” Corporate income tax credits and sales tax refunds were the most popular incentives; top beneficiaries were print media companies and biotech firms, according to The New York Times database.


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    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.