🔒Nord hired to lead CBIA Foundation’s efforts to boost state’s competitiveness

The CBIA Foundation for Economic Growth & Opportunity was formed in 2023, but it wasn’t until midway through 2024 that the organization hired its first director: Dustin Nord. The 501(c)(3) foundation was created by the state’s largest business association to address “the evolving needs of Connecticut’s economy,” CBIA said. “Our primary goal is charting a course for sustained economic growth that drives further predictability and greater opportunity for all Connecticut residents,” the foundation states on its website. Nord was hired in August 2024 after serving nearly three years as a business associate, and then senior research associate with AdvanceCT, a nonprofit that focuses on recruiting new businesses to Connecticut. While working for AdvanceCT, Nord conducted research on the state’s economy, while also focusing on policy research related to taxation, housing and occupational licensing. He’s performing similar work for the CBIA Foundation. Last September, the foundation released “Opportunity Connecticut,” which it described as a “long-term roadmap” to boost the state’s economic competitiveness. The foundation worked with Economic Leadership LLC, a North Carolina-based consultant, to formulate the 45-page report, which they described as a strategic economic action plan that also offers recommendations for retaining and attracting investment and talent, fostering innovation and expanding career pathway opportunities. That report, in part, also highlighted the Tax Foundation’s ranking of Connecticut’s tax climate as 47th in the U.S., or fourth worst. Its recommendations included eliminating out-of-date and redundant regulations; reducing the complexity of the tax code and the overall tax burden on businesses and residents; reducing the number of occupations that require licenses; and creating more quality and affordable small business health insurance options. While the CBIA foundation plans to update the “Opportunity Connecticut” report every other year, it’s scheduled to release a new study in September. “Connecticut By the Numbers” is intended to be a comprehensive analysis of the state’s economic position across more than 50 key metrics and benchmarking Connecticut’s performance on a range of economic factors.

The research and analysis aims to be a tool for the private and public sectors, academia, nonprofits and policymakers, said Chris DiPentima, CBIA president and CEO. “The CBIA Foundation was created to address Connecticut’s unique challenges and embrace its many opportunities in a rapidly changing economic landscape,” DiPentima said. “Dustin’s experience in economic research and business retention and recruitment with AdvanceCT, and his work with nonprofits like the YMCA of Greater Hartford (where he previously served as director of community engagement), give him unique insight and understanding of the levers of Connecticut’s economy.”