NORWALK – By closing gaps in income, home ownership, home values, and educational attainment Fairfield County could generate $15.6 billion in gross domestic product growth, according to a recently released report.
A new research report unveiled on Wednesday called The Upside—Growth, Potential, and the Future of Fairfield County co-authored by experts from Fairfield County’s Community Foundation, the Urban Institute and DataHaven paints a clear picture of what’s possible for Fairfield County if it comes together to create a more competitive, resilient, and inclusive regional economy.
Intentionally planning to expand opportunity could generate a $15.6 billion boost to the region’s GDP, the equivalent of the entire annual economic output of nations like the Bahamas, the report states.
“This research sends a powerful message: Expanding opportunity is a game-changing economic strategy,” said Mendi Blue Paca, CEO and president of Fairfield County’s Community Foundation. “For the first time, we have hard data proving that an inclusive Fairfield County isn’t just possible — it’s the key to unlocking our region’s full economic potential. The time for bold action is now.”
Key outcomes from closing opportunity gaps:
- $13.3 billion in additional aggregate income for local residents
- 33,000 more homeowners and 84,000 more college graduates
- $603 million in additional local property tax revenue and $1.2 billion in state tax revenue.
Despite being one of the wealthiest counties in the nation, Fairfield County ranks second highest in income inequality among U.S. metro areas.
“Fairfield County has long been recognized as one of the most unequal counties in America,” said Kelly Davila, principal research associate at DataHaven. “While we often rely on economic indicators and well-being surveys to demonstrate the various factors driving these disparities and their effect on quality of life, this new research goes a step further and actually demonstrates the benefits to all residents that could arise from closing opportunity gaps in Fairfield County.”
The report highlights deep economic disparities that contribute to widening income inequality such as White households earn $134,000 more on average annually than Black households and approximately $125,000 more than Latino households. It also found median home values for White households are approximately $580,000, compared to $343,000 for Black and $413,000 for Latino households.
“Fairfield County, Connecticut, has the opportunity to strengthen the local and state economy, creating new opportunities for residents and local businesses,” said Dr. Christina Plerhoples Stacy, principal research associate, at the Urban Institute. “In our research, we found that increasing opportunities for Fairfield County residents and closing socioeconomic gaps could lead to long-term economic gains. At a time of economic uncertainty, this new evidence-based research outlines ways in which the Fairfield County community can continue to grow and thrive using recommendations from local leaders across the private, public, nonprofit, and philanthropic sectors.”
A Call to Action
FCCF is urging business leaders, policymakers, philanthropists, and community members to act now. The study outlines key steps to drive inclusive growth, including:
- Expanding access to education: Universal preschool, stronger K-12 support, and college/trade school subsidies.
- Workforce & small business development: More apprenticeships, fair hiring practices, and expanded business financing.
- Housing solutions: Down-payment assistance for first-time homebuyers and reducing barriers to new housing construction.
- Wealth-building programs: Baby bonds, matched savings initiatives, and financial coaching.
Healthcare & wellbeing: Expanding mental health services, workplace wellness programs, and criminal justice reform
