Tracking lost business
Between 2007 and 2008 when the recession began, Fairfield County lost 325 business establishments, a 1.1 percent drop according to new estimates by the U.S. Census Bureau.
Connecticut lost just over 1,000 businesses during that time frame, a 1.1 percent decline that trailed a 0.2 percent decline in New York.
Florida suffered the deepest decline with a 3 percent drop in business establishments, while Texas led the nation with a 0.2 percent gain in businesses.
State”™s fiscal woes a top concern
Virtually all Litchfield County businesses are concerned about Connecticut”™s fiscal problems and almost three-quarters are “extremely concerned,” according to a survey by the Connecticut Business & Industry Association in collaboration with the Northwest Connecticut Chamber of Commerce.
Businesses there cited health care costs as their biggest concern, with 71 percent of respondents calling it a significant burden.
“While the survey may show some improvement in economic conditions, our biggest challenge will be to keep our state leaders focused on the key issue (of) fiscal responsibility, resulting in a major reduction in our uncontrolled state spending,” said Peter Kent, CEO of Canaan-based Bicron Electronics Co. and chairman of the CBIA board of directors, in a prepared statement.
More than half of northwestern Connecticut businesses anticipate reducing employee benefits in 2010 in response to current economic conditions, and nearly 40 percent indicated plans to reduce the size of their work force in the coming year.
Living large in small cities
Fairfield County cracked CNNMoney.com”™s list of the 100 best small cities in which to live, with Stamford ranked 78th and Norwalk 90th.
Stamford was touted for its proximity to New York City and Norwalk for a diverse array of businesses; both cities drew mention as well for their location on Long Island Sound.
Eden Prairie, Minn., was deemed the best small city in which to live, while Newton, Mass., led all cities in the Northeast while ranking third overall behind Colombia, Md., and adjacent Ellicott City.
In Westchester County, N.Y., White Plains ranked 53rd and New Rochelle 82nd.
