Good News/Bad News in CFED Report

- Posted by Editor in Economic Development

Connecticut again shows both promising and troubling rankings in the 2007 Development Report Card for the States by CFED (formerly known as the Corporation for Enterprise Development).

We received high marks in the following categories in comparisons among the 50 states:

  • 1st in Average Annual Pay;
  • 2nd in Private Research and Development;
  • 3rd in Average Annual Pay Growth;
  • 4th in Employer-Provided Health Insurance;
  • 4th in Working Poor;
  • 6th in Per Capita Energy Consumption;
  • 7th in Greenhouse Gas Emissions;
  • 7th in Poverty Rate.

On the other end of the spectrum, we fared poorly in the following:

  • 39th in Employment Growth Short-Term;
  • 41st in Net Migration (Population);
  • 41st in Highway Performance;
  • 45th in Employment Growth Long-Term;
  • 46th in Energy Costs.

If there's good news in the bad news it's that from last year's to this year's report Connecticut improved from 45th to 39th in Short-Term Employment Growth and 49th to 45th in Long-Term Employment Growth.

I think the figures show a couple of things. Connecticut does well in areas where businesses often get beat up at the legislature, namely average annual pay, average annual pay growth, and employer-provided health insurance.

And that the legislature would do well to continue to focus on areas where we don't score well, particularly our short- and long-term job growth numbers. A lot of the other areas will improve if we can create a better climate for investment and job creation here.

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