A national study has ranked Connecticut among the five worst states for business, which the Connecticut Business and Industry Association says puts an exclamation point on the need to address critical issues that impact the state’s economy and job growth.
Connecticut fell one rank to 46th place in CNBC’s latest America’s Top States for Business rankings. The state has the fourth-highest cost of doing business, the third-highest cost of living, and the nation’s second-worst economy, according to the rankings.
“It’s critical that we address those areas that are hampering economic growth, particularly the high cost of doing business, taxes, government red tape and our aging transportation infrastructure,” said John Rathgeber, president and CEO of CBIA, in a press release. “At the same time, we must continue leveraging and investing in areas where we are strong, such as education and talent, a skilled and productive workforce, technology and innovation, and access to capital.”
The CNBC study was prepared earlier this year, and it uses data that does not reflect the state’s recent progress in areas such as job growth, regulatory reforms and initiatives to reduce energy costs, Rathgeber said.
Earlier this year, the CBIA and other professional and community organizations launched a campaign designed to move Connecticut into the top 20 states in the CNBC and other national rankings by 2017.
“Connecticut’s economy and job growth are the top priorities for the state’s voters going into the elections this November,” Rathgeber said. “And voters must engage candidates at every level and ask them about their plans for promoting economic growth and accelerating job creation.”
