Graduates all across Connecticut received their diplomas over the last several weeks. They tossed their graduation caps in the air, full of excitement for the future.
So, what’s next? Will they enter the workforce or further their education here in Connecticut? Will they seek education and career opportunities elsewhere? Will the state’s economy be sufficiently vibrant to provide the prospects for a better life?
The reality is that Connecticut can only be a destination of choice for companies and the talent they need if we improve the state’s business climate. CNBC’s 2014 “America’s Top States for Business” study has Connecticut mired in 46th place.
Although one can quibble over methodology used in these types of surveys, we ignore them at our own risk. CNBC and other national publications publicize their rankings widely; the result is less investment and fewer job opportunities here in Connecticut.
In many ways Connecticut is a great place to work and live. We’re rich in history and culture, blessed by geography and an enviable quality of life, and home to acclaimed academic institutions and world-class companies.
But we’ve also been one of the slowest states to recover from the recession, causing many people to struggle. And our businesses are recruited regularly by states and nations with lower costs and fewer regulations.
We have begun to make progress in areas such as education and energy, but if Connecticut is to truly thrive, we need a concerted effort to make this a better state to locate and grow a business. Improving the business climate helps everyone by providing more and better job opportunities, and increasing tax revenues to pay for state services.
That’s why the Connecticut Business & Industry Association, along with dozens of other organizations, have launched the CT20x17 campaign, which aims to move Connecticut into the top 20 states in national rankings of the best places to do business by 2017. We believe everyone should buy into the premise that improving our environment for job creation will create a brighter future for the state.
The next question is — if the goal is to create a brighter economic future, how do we get there?
We can start by asking our candidates some tough questions and once they are elected into office continue to hold them accountable for their decisions and actions.
This election season, let’s have an open, straightforward, and positive discussion with all candidates about what needs to be done and ask them to answer the following questions:
What will you do to encourage businesses to invest and grow in Connecticut?
Sending positive messages to business will help improve our rankings. Legislators must adopt laws that encourage, not hinder business growth. Reducing regulatory red tape and business costs will let companies grow, hire more people and contribute in a greater way to the state’s economy.
How will you improve the state’s fiscal condition?
One of the biggest drags on the Connecticut economy is the combination of recurring budget deficits and huge unfunded liabilities for things like state employee pensions. Lawmakers must come to grips with the problem by reducing the cost of delivering state services and holding the line on, and ultimately reducing, the tax burden on businesses and individuals.
How will you address the state’s aging infrastructure?
The state’s airports, rails, ports and roadways are critical connections to regional, national and global markets. We must find the means to modernize our infrastructure, and we can start by ensuring that transportation funds go to transportation projects and not into the general fund.
How will you encourage young people to stay in Connecticut after they graduate?
After graduation, many young people find opportunities for a better life elsewhere. It is essential to our economy that we attract and retain talent in Connecticut. We need to continue to create opportunities for young people to have successful and prosperous careers here at home.
These questions are just the start of the conversation. Candidates, and those legislators eventually elected into office, will be voting on many issues that will shape our economic future. Hold them accountable and continue to ask the tough questions before and after elections.
Joe Brennan is senior vice president of public policy for the Connecticut Business & Industry Association.
