The Yankee Institute of Public Policy (PDF) recently released their list of the 10 most business-friendly towns in Connecticut, a state which has some incredible advantages as a location to base a new company. While tax rates may be offsetting to some, the proximity to New York, Washington, DC and Boston are a solid advantage. The state also has great highways (yes, with traffic but what region doesn’t have traffic these days?), trains and numerous short flights connecting CT to important political and financial hubs.
Proximity to JFK, LaGuardia and Newark Airports are yet another bonus for much of the state – especially Fairfield County.
According to Yankee:
Connecticut has so many advantages for businesses: an educated population and some of the country’s best schools, a prime location midway between Manhattan and Boston in the beautiful heart of New England, and a rich history of research and innovation. “A Connecticut Yankee” has for centuries been a byword for a shrewd, clever and successful business person.
In spite of her natural advantages and charm, Connecticut has in recent decades become a state riddled with high taxes and regulatory burdens—ingredients for a bleak economic future. State-level policies play a massive role in defining the state’s overall economic health. But Connecticut’s economic policy is not solely defined at the state level.
If there is a big surprise here, it is Stamford – which is missing. It has really become the heart of the state according to many, allowing many businesses to feed off a fast-growing housing market as well as new companies relocating to the area. Milford too has become an important business hub based on the new customer calls we receive here at Apex Technology Services for IT and cybersecurity services.
Connecticut has another advantage – its range of housing prices – from a city like Waterbury (near the bottom) with a median of $112,500 to Greenwich at $2.3 million… A differential of 20.4 times!
What this allows for is access to capital from seed investors and low cost-of-living, to start businesses, which can take advantage of these benefits.
We’d like to finish off by congratulating Fairfield, Greenwich, Westport, Ridgefield, Simsbury, West Hartford, South Windsor, Shelton, Glastonbury and Branford for topping the list.