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State Resources


Connecticut Business Resources

Connecticut has historically been an industrial state with products such as textiles, silverware, and clocks among its manufactures. It was also known for its military manufactures, which were first produced during the American Revolution. Military products such as jet engines, helicopters, ammunition, and submarines continue to be produced today. In addition, electronics, computer equipment, and office machines are important civilian products.

Connecticut has the highest per capita income and median household income in the country. This is largely a result of the vibrant financial sector, which is the largest contributor of revenue to Connecticut’s economy. Much of the financial sector’s success is due to a cluster of insurance companies located in Hartford, as well as an influx of hedge funds following a 1991 tax reform that made Connecticut more competitive than any other state.

Business Data

Per Capita Real GDP$50,332 Rank: 2/50 (2006)
Population3,405,570 Rank: 29/50 (2000)
Per Capita Personal Income$49,852 Rank: 1/50 (2006)
Unemployment Rate4.80% Rank: 30/50 (2008)
Business Tax Climate IndexRank: 38/50 (2008)
Corporate Tax Rate7.5%
Individual Tax Rate 3% - 5%
Sales Tax Rate 6%

Business Tax Climate Index

Individual Income Tax Index Rank18
Sales Tax Index Rank30
Unemployment Insurance Tax Index Rank19
Property Tax Index Rank50
Business Tax Climate Index38
Corporate Tax Index Rank17

State Information

AbbreviationCT
CapitalHartford
Nick NameConstitution State
State Web Sitehttp://www.ct.gov
MottoHe who transplanted sustains

Top 5 Export Partner Countries

Canada, France, Germany, United Kingdom, Singapore

Top 5 Export Merchandise

Machinery Sales Transportation Equipment Sales Transportation Equipment Manufacturing Plastics and Rubber Products Manufacturing Fabricated Metal Products Manufacturing

Major Cities

Bridgeport, Hartford, New Haven, Washington

GDP

Total Gross Domestic Product (USD Millions) $216,266.00 (2007)
Per Capita Real GDP (USD)$51,911.00 Rank: 3 (2007)

Population Stats

Population 3,501,252 Rank: 29 (2008)

Age Distribution

Under 18 Population841,688
Under 18 Percent of Total Population25%
65 and older Population470,183
65 and older Percent of Total Population14%

Gender Distribution

Male Population48.4%
Female Population51.6%
Non-English Speaker (at home)475,551
Net International Immigration75,991
Birth Rate12%
Percent of People Under Poverty Level8.3%
Rank48

Expenditure

Per Capita State Spending$23,445
Rank6
Energy Expenditures per Person$3,927
Expenditures of State and Local Government Employee-Retirement Systems$2,337,826

Revenue

Personal Income$32,900
Rank1
State Internal Revenue Collection$54,235,851
Rank17
Cash and Deposits by State Government$595,147
Per Capita State Tax Collection$3,475
Rank5

Education

High School Graduation Rate77.3%
Rank15
Percent of Population with a Bachelor's Degree19.4%
Rank8
Percent of Population with an Advanced Degree14.8%
Rank3

Largest Universities

Central Connecticut State University Southern Connecticut State University University of Connecticut
High School Graduation Rate77.3%

Logistics

Public Road Length (Mile)21,249
Gas Tax Rate (%)25%
Highway Planning and Construction (USD Thousands)429,975
Number of Public Airports23

Main Airports

BDL: Windsor Locks

Ports

Bridgeport, New Haven

Weather


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State Business Links

Connecticut Post
http://www.connpost.com/

Secretary of State

Connecticut Secretary of the State
http://www.ct.gov/sots/
Information on elections services, commercial recording, information technology, management and support services, education programs, business information

Small Business Administration

Connecticut Small Business Administration
http://www.sba.gov/localresources/district/ct/index.html
Connecticut Small Business filings, news, research, and more

Top 10 Business Links

Connecticut Business & Industry Association
http://www.cbia.com/home.php
An organization of over 10,000 companies that works with Connecticut’s legislators to introduce favorable laws. Smaller groups are available within the organization and a variety of business-related events are sponsored. Business and economic information is provided, along with information on other human resources, governmental, and education policy issues.
CT Business Network
http://www.ctbusinessnet.com/
This is a resource for businesspersons interested in building a Connecticut-based network in a clear and upfront manner.
Department of Economic and Community Development
http://www.ct.gov/ecd/cwp/view.asp?a=1102&q=287030
Within this section of the Connecticut state website, entrepreneurs can find information specifically related to business/industry development, community/housing development, industry clusters, infrastructure/real estate, international matters, research data, and compliance.
Doing Business in Connecticut
http://www.youbelonginct.com/user-cgi/pages.cgi?category=business&level=1
This page gives information on Connecticut’s business environment, business and technical assistance, financing, procurement and set-aside, tax credits and incentives, starting a business, industry clusters, real estate, workforce, infrastructure, and specific town profiles.
Hartford Business Journal
http://www.hartfordbusiness.com/
This is the online version of the Hartford Business Journal, which features articles related to Connecticut and Hartford business, as well as more international topics. News articles are categorized by industry.
State of Connecticut
http://www.ct.gov/
For those in search of a wide range of information on Connecticut, this site, which is the official page of the state of Connecticut, provides information on working, doing business, learning, living, visiting, and the government. You can also find out about the different branches of Connecticut’s government: executive, judicial, and legislative, and their agencies, sessions, and courts.
The New CT Business Magazine
http://www.ctbizmag.com/
This site provides online access to some of the articles of CT Business Magazine. The magazine reports on issues, events, and leaders involved in shaping and leading Connecticut’s economy.
ThinkGlobal: Port Connecticut
http://www.thinkglobal.net/portct/
ThinkGlobal is a publication, done in magazine-style, which includes information for businesses involved in international trade. Content includes company, international trade executive, upcoming events, and online and traditional resources information, as well as job openings and success stories in international trade. Publication is free upon request.
U.S. Export Assistance Center of Middletown
http://www.buyusa.gov/connecticut/
The Connecticut branch of the Department of Commerce that specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided.

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