Connecticut Businesses on the Edge of an Economic Revival

Connecticut has been in economic stagnation for the past twenty years under Republican governors Lowell Weicker, John Rowland, and Jodi Rell.  Indeed, until this January, there had been no net job growth in Connecticut since the 1980’s.  That said trend has now changed.  Since January Connecticut has created more than 700 new job positions, and while our economy is not yet flourishing it does appear to be on the edge of an economic revival. 

During the past week, I have cut ribbons or helped to open three new businesses in my hometown of Guilford alone.  They include Grow Home Organics, an organic garden and outdoor kitchen supply company, Frogurt, already a popular yogurt store, and the Brownstone, a charming new restaurant which replaces the old Friendly’s.  These store and job openings represent economic revival in 2012.  

Connecticut’s economic upturn is the result in part of the Small Business Express Program enacted by the state legislature last October and strengthened in our special session in June.  That program has distributed this year about $25 million in loans and grants to almost 200 Connecticut companies and has given tax credits of $500 per month for each new employee that those companies have hired.  The program has also financed job training.  Grow Home Organics, for example, was able to start up because of its state grant of $83,800.  

During the past spring, I have visited other small businesses in Branford and North Branford which have been beneficiaries of our Small Business Express Program.  

In response to a statement by Cindy Cartier critical of business growth in Connecticut, I recognize that insurgent political candidates must downcry any good results in order to try to upset an incumbent legislator.  In light of the emerging economic growth in our state, that type of downcry is not credible and may be one of the reasons that we have had economic stagnation for so many years.  

Mrs. Cartier, in her statement, mistakenly attributed to me rather than the journalist who wrote an article the words that “businesses are flourishing.”  The same article to which Mrs. Cartier referred accurately quoted my statement that “we are the edge of a turnaround.”  That turnaround, while not yet flourishing, should be encouraged, not disparaged.