One in three companies report being solicited to leave the state.
A new commission charged with improving Connecticut's economic competitiveness wants input on exactly why companies like General Electric don't believe the state is a good place to do business.
The commissionbrings together business representatives, lawmakers, educators, labor leaders, DECD commissioner Catherine Smith, and Commissioner of Revenue Services Kevin Sullivan.
Co-chair Joseph McGee, who heads up the Business Council of Fairfield County, said the commission wants to understand why the data on Connecticut's business climate is so difficult to navigate.
"We have looked at 20 separate economic report cards on the state of Connecticut," McGee told commission members. "Stamford, Connecticut is either the greatest place to get a job, or it's worse than Detroit in terms of young people fleeing. So what is this? What are the metrics in there? Unless you know how these metrics are constructed, it's very hard to understand them."
The Commission on Economic Competitiveness must report to the legislature in January.
Meanwhile, a recent survey carried out by the Connecticut Business and Industry Association said that one in three companies report being solicited to leave the state. The report, compiled with Blum Shapiro, looks to quantify just how much tax hikes in the latest biennial budget affected business confidence in the state.
Forty-three percent of businesses responding were concerned about the state’s economy — up nine percent from last year. Fifteen percent listed the tax burden as the single biggest challenge. More than half said reducing taxes should be lawmakers’ top priority to enhance business competitiveness.
On the plus side, more than 30 percent of businesses said they’re growing, and 50 percent reported holding steady.
General Electric has said it will decide in the fourth quarter of this year whether it will move its headquarters out of Connecticut.
The corporation is being actively courted by several states including New York, Georgia and Texas.
