By Marilyn Giuliano
I remember a Connecticut that was the insurance capital of the world - and a state where skilled workers made good wages on manufacturing jobs that supported families and personal prosperity.
But Connecticut has lost these jobs, lost its businesses and lost its young adults faster than nearly every other state, not only in this recession but for the past twenty years.
Today, our state workforce is aging, our young workers are leaving, and Connecticut is transitioning from a manufacturing economy to a service economy.
Individual income taxes collected per capita in fiscal year 2007 in Connecticut were $1,811 – the nation’s highest.
The high cost of doing business in Connecticut significantly diminishes our competitiveness.
To improve our economic outlook and our collective prosperity Connecticut must:
• Reduce the size and cost of government
• Reduce personal and business taxes to create a family friendly and business supportive economic climate
• Remove and revise regulations that stifle entrepreneurs and drive up business costs
• Prioritize transportation initiatives to quickly and safely move people and goods
Connecticut has the assets and creativity to actively reshape our state’s economic performance, and it is essential that we do so. Nothing less than our economic vitality is at stake.