Connecticut’s manufacturing and logistics industries are holding their own for the time being, but the state’s tax climate and benefit costs are signs of a gloomy future, according to a June report from Ball State University’s Center for Business & Economic Research in Indiana.
Ball State conducts annual 50-state surveys using nine different metrics to gauge state’s individual industry health, along with the general health of national manufacturing. The metrics range from the overall health of manufacturing and logistics to global reach and production and innovation.
Overall, Connecticut’s manufacturing industry scored a B, while the logistics industry scored a D. Both grades are the same from last year.
The state received a D- in its worker benefit costs and tax climate, and a D in sector diversification — all factors that paint a weak picture of manufacturing’s future in Connecticut, according to CBER Director Michael Hicks.
Connecticut did score a B- in productivity and innovation, an improvement from last year. It also had a B+ in its global reach, although that score was lower than last year.
Manufacturing constitutes 8.1 percent of Connecticut’s economy and earnings from the industry total $16.6 billion, according to the report.
