Survey: A Quarter of Greater Hartford Companies Courted by Other States
June 24, 2011
One-quarter of companies in the Greater Hartford area said they have been courted by other states to consider moving or expanding there, according to a survey conducted this spring.
Fully 25 percent of the firms in the Hartford-Springfield region said they had been approached by other states, according to a report issued Friday by the Connecticut Business and Industry Association. More than 650 firms participated in the 2011 Hartford-Springfield Business survey.
The reports key findings include:
Among manufacturing firms, 39 percent say they have been recruited by other states.
Less than half, 45 percent, of respondents plan to expand next year, with most citing economic uncertainly as the main reason for curtailing growth. Another 60 percent said the region's cost of business was the primary barrier to expansion.
"A major challenge to this region's competitive ability is its tax and regulatory environment," R. Nelson "Oz" Griebel, chief executive of the MetroHartford Alliance, said in a statement. "Changes need to be made that support private-sector investment and job retention."
Forty-three percent of respondents said the region's quality-of-life is its greatest asset; 30 percent of firms surveyed said the area's best asset is its proximity to customers, while 17 percent cited the area's skilled work force as its primary asset.
Reprinted with permission of the Hartford Courant.
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