Congratulations to Governor-elect Dan Malloy and all of our new state leaders and legislators on their election to office. The business community appreciates the sacrifices they are willing to make to serve the state during these difficult times and we are looking forward to working with them on the critical issues facing Connecticut.
As mayor of Stamford, Malloy championed economic development and brought new businesses into one of the state”™s largest cities. As governor, we hope he will continue to work with the employer community to restore business confidence and move the state forward. We encourage Governor-elect Malloy and state lawmakers to engage the employer community in the process to tap its experience, ingenuity and know-how to get Connecticut back on top.
The state is facing a $3.5 billion budget deficit in each of the next three years while our economy is only slowly recovering. Connecticut has lost more than 100,000 jobs and has the third-worst business climate in the U.S., according to the recent Beacon Hill Institute Report. Legislators must make reducing the size and cost of state government, balancing the budget and adopting fiscal reforms their top priorities, because they are the keys to investment and job creation in Connecticut.
And although Connecticut”™s economic recovery is under way, growth is expected to be slower than the U.S. overall. We can exceed those expectations by reducing above-average business costs and making Connecticut a state that encourages rather than discourages economic growth.
That”™s why it”™s vital for legislators to move quickly on a pro-jobs, pro-economic growth agenda to improve the state”™s business climate and encourage employers to invest here. We call on lawmakers not to consider any job-killing bills ”“ legislation that would increase the cost of business for employers or add new costly mandates.
The sooner legislators take action to restore fiscal responsibility and revive our economy, the sooner Connecticut will be on the path to creating the sustainable jobs that are critical to the future of the state”™s economy, its residents and its businesses.
Governor-elect Malloy, along with a Democratic-controlled majority in both chambers will have the support and ability to move policies through the Legislature. We encourage them to reach across the aisle to engage Republicans to create fiscal policies that move the state in the right direction, welcoming businesses and creating jobs.
John R. Rathgeber is president and CEO of the Connecticut Business & Industry Association. He can be reached at John.Rathgeber@cbia.com.
