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Connecticut CPA
November/December 2014
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Officials from BlumShapiro
and CBIA agreed that they
are cautiously optimistic
about the results of this
year's survey, noting that
three times as many busi-
nesses say they are grow-
ing rather than contracting,
innovation and investment
in technology is strong, and
three-quarters of manufac-
turers surveyed say they
are exporting.
Highlights of this year's survey include:
35 percent of businesses surveyed
indicate they are growing; 11 per-
cent indicate they are contracting.
46 percent of businesses sur-
veyed introduced new products
or services in the past 12 months;
47 percent of them plan on intro-
ducing new products or services
in the next 12 months.
52 percent of businesses sur-
veyed say the most important
step policymakers can take to en-
hance business in Connecticut is
lowering taxes; 24 percent say it is
reducing regulations, and 11 per-
cent say it is cutting government
When asked about how Connecti-
cut should address the shortage
of skilled workers, 32 percent
of businesses surveyed say the
state should reduce the cost of
living, 28 percent say the state
should support trade schools, 20
percent say the state should sup-
port education overall, and 20 per-
cent say there should be incentive
for training programs.
27 percent of businesses surveyed
say technology is the greatest sin-
gle investment, 23 percent say it is
employee training, and 23 percent
say it is property and facilities.
that Connecticut clearly needs," said
Joseph Kask, office managing partner
of BlumShapiro's West Hartford office.
"Connecticut's workforce is aging,
with 53 percent of our respondents re-
porting that 20 percent or more of their
workforce is 55 or older. There is much
to be optimistic about in this survey,
but the aging workforce is certainly a
challenge we continue to face."
"Economic competitiveness is not just
a business issue but one that touches
every community, every neighbor-
hood, and every family in Connecti-
cut," noted John Rathgeber, CBIA's
president and CEO. "A competitive
economic climate means more jobs,
more opportunity and a brighter future
for everyone in the state. We have tre-
mendous assets and must continue to
leverage them. At the same time, it's
critical we address those areas ham-
pering economic growth, particularly
the high cost of doing business, taxes,
state budget deficits and long-term
debt, red tape and our aging transpor-
tation structure."