Tuesday, May 8, 2012
By Themis Klarides
Results of an annual survey describing the best and worst states in which to run
a business were released recently, and the news for Connecticut isn’t so hot.
In fact, it’s downright dubious. Once again, the nutmeg state sits just above the
bottom. Connecticut, despite what many state lawmakers say, isn’t open for
business. The problems are well known: too many taxes, too much regulation.
The eighth annual survey, conducted by Chief Executive Magazine, considered
responses from 650 business leaders. CEOs graded states in which they do
business in areas such as regulation and taxes, living environment and quality
of workforce. Texas, noted for its regulatory and business-friendly tax
environment, finished at the top of the list. California finished at the bottom of
the list for the eighth straight time.
But sitting at 44th, Connecticut isn’t much better than The Golden State.
Among the comments from survey respondents was, “Connecticut continues its
rapid decline and it’s getting ugly.”
Within the last year, the legislature passed into law a controversial mandate
governing the amount of sick leave some employers must provide to their
workers. And the General Assembly was a whisker away from adopting
“captive audience” legislation preventing employers from talking to workers
about policy issues that impact the viability of their businesses.
Those actions, and others, were red flags for anyone even considering moving
to or creating a business here in Connecticut.
Opportunity is passing us by. Three nearby states—New York, New Jersey and
Massachusetts—ranked below ours and another, Rhode Island, is just above us
on the list. There’s no reason why Connecticut, as one respondent wrote,
couldn’t become a refuge for businesses in those states.
Instead, Connecticut’s legislature consistently pursues tax increases and
ironclad regulations—both barriers to growth.
We must reverse this trend if we’re going to move up the list.
Rep. Themis Klarides serves as Deputy Republican Leader and represents the 114th
General Assembly District covering Derby, Orange and Woodbridge
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