FACT CHECK: Gov. Lamont’s Responsible Approach Improves Our Economy
FOR IMMEDIATE RELEASE
November 1, 2022
CONTACT
Jake Lewis
[email protected]
Hartford, CT – For the first time in years, the economy is growing — strong consistent job growth, record numbers of new businesses, and historic investments in workforce development.
The numbers don’t lie– 9 straight months of job growth in 2022. [CT Insider, 7/3/21]
Connecticut is outperforming the national economy in 2022 as Gov Lamont invests in workforce and business development, and childcare.
Connecticut is outperforming the nation economically in 2022. The state’s jobless rate has fallen from 5.3 percent to 3.7 percent, “far more sharply than the nation’s decline this year. The state budget surplus topped $4.3 billion, not just on the strength of investment gains and federal pandemic relief. The state has seen a healthy return by thousands of the people who exited the work force in 2020.” [CT Insider, Dan Haar Column, 9/12/22]
Development of deeper venture funding pools within Connecticut with $293 billion assets under management in-state, and “improving business climate are powering innovation across strategic sectors such as bioscience, technology, advanced manufacturing, fintech, contributing nearly $100 billion to gross state product and 200,000 jobs created; Connecticut now ranks fifth among states in patenting activity with a doubling in patents held over the last decade”. [CT Post, Op-Ed, 9/24/22]
“Even companies with a long history in Connecticut are newly emboldened to make significant legacy and advanced manufacturing reinvestments in the state totaling more than $25 billion, such as Sikorsky, Pratt & Whitney, Linde, Pfizer and PepsiCo, creating more than 10,000 jobs.” [CT Post, Op-Ed, 9/24/22]
Registration of new businesses with employees has topped 1,100 per month for the first time since 2006. [CT Insider, Dan Haar Column, 9/12/22]
In 2021, 28 companies either moved to or expanded in CT. 47,000 new businesses registered, four times the number that registered in 2020. Gov Lamont’s administration created a one stop shop – Business.CT.gov – where entrepreneurs can easily find info and create a checklist with everything required to start up or manage a business in the state. [Gov Lamont Press Release, 7/29/2020; Gov Lamont Official Twitter Account, 3/30/22]
Created $150 million program to support women, minority, and veteran-owned businesses. [Gov Lamont Official Twitter Account, 3/30/22]
Reduced taxes on at least 73% of businesses by restoring the UI trust fund. [Gov Lamont Official Twitter Account, 3/30/22]
Boosted funding to childcare programs, investing $210 million in Connecticut’s Care 4 Kids Program and operational stabilization grants because “The strength of our state is dependent upon the strength of our early childhood programs.” [NBC CT, 3/26/21]
Gov. Lamont’s 2022 budget included $25 million for infant and toddler funding within the Child Day Care Program. [Connecticut Office of Early Childhood, Budget Summary, 6/17/22]
More than $100M focused on advanced manufacturing, IT and technology, and nurses and social workers. Created state workforce development unit focused on building the nation’s strongest talent-to-jobs pipeline as STEM graduates have doubled over the past decade. [Gov Lamont Official Press Release, 7/20/20; CT Insider, Dan Haar Column, 9/12/22]
Launched Connecticut’s first regional sector partnership to provide workforce development opportunities for students and workers, support job growth, and help position Connecticut as a leader in the IT, AI, and Industry 4.0 economy. [Capital Workforce Partners, 7/21/21]
Signed into law a bill aiming to attract more women back into the workforce who lost their jobs or left voluntarily during the Pandemic by expanding opportunities to “skill up” for better paying jobs and get career coaching. [CT Insider, 5/25/22]
Governor Lamont’s business friendly policies have ushered in a new era for the state’s economy that’s got top industry leaders “praising a newly welcoming business and economic climate within the state.” [CT Post, Op-Ed, 9/24/22]
“Are we better off than we were five years ago? I think that the answer is unequivocally, yes. We’re better off fiscally, we’re better off economically. I think we’re better off psychologically,” said JIM SMITH, WEBSTER BANK FORMER CEO AND CHAIRMAN. “We got the right guy as governor,” said Smith.[CT Insider, Dan Haar Column, 9/12/22]
RODNEY BUTLER, MASHANTUCKET PEQUOT INDIAN TRIBE CHAIRMAN: “It’s been a breath of fresh air, and the progressiveness of state leadership has made a huge difference.” [CT Post, Op-Ed, 9/24/22]
PAUL LENMO, SIKORSKY CEO “called Connecticut the most friendly state where he’s led Lockheed businesses — comparing favorably to Maryland, New Jersey and Florida.” [CT Post, Op-Ed, 9/24/22]
GREG SCHWARTZ, TOMO CEO AND CO-FOUNDER, “celebrated the fiscal and business climate improvements and the superior work force commitment over that of California, where he helped lead Zillow.” [CT Post, Op-Ed, 9/24/22]
###