Most Business Friendly State
CNBC Top States for Business, 2021
Successful companies pick the best location for their business, but transformative companies pick the best location for their people. The success of your business is determined by the quality of your workforce and their ability to adapt to new technologies fueled by innovation.
In Connecticut, we’re investing in our people to ensure that everyone has the opportunity to grow their skills, adapt to new technologies and thrive. Whether it’s in K-12 education, in world-class universities such as Yale and the University of Connecticut, or through our workforce development and training programs, we’re investing in the future and removing barriers to success.
Innovation isn’t just a word in Connecticut, it is a way of life that’s open to everyone.
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Most Business Friendly State
CNBC Top States for Business, 2021
for Human Capital Investment
Milken Institute, 2020
Most Innovative State Economy
Bloomberg State Innovation Index, 2020
2021 State Credit Rating Upgrade
Moody's Investors Services, 2021
Connecticut is a pioneer in aerospace and defense. From Sikorsky helicopters and Pratt & Whitney engines to Electric Boat nuclear submarines, Connecticut has long been a focal point for aerospace leadership and innovation. Recognized as a national leader in defense, Connecticut manufacturers bring in more than $19 billion in annual defense contracts.
Connecticut is home to manufacturing pioneers - from multinational OEMs to leading suppliers of components, composites, and related services of all types. Together, they form one of America’s most successful and forward-thinking advanced manufacturing ecosystems - powering today’s advances and innovation in precision processes, breakthrough fabrications, and patented products.
The state is home to 10 of the world’s largest hedge funds including Westport-based Bridgewater Associates, the largest hedge fund globally. Connecticut houses the second highest level of hedge fund capital after New York.
Connecticut is the #1 location for the insurance industry in North America. Insurance is one of Connecticut’s longest standing industries and largest employers. There is no market in the world that has an insurance industry cluster like Connecticut. We have a workforce with unparalleled depth and expertise in the industry and a business and regulatory environment that caters specifically to this industry.
From the artificial heart to stem cell study to genome research, Connecticut continues to demonstrate its commitment to serving as the center for biomedical advances. Connecticut has become a nucleus of life science advances—from groundbreaking research in personalized medicine to device manufacturing of the latest medical technology.
Fuel cells from Connecticut-powered technologies have been present on NASA’s Apollo and space shuttle missions since the 1960s. Today, the state is home to one the largest fuel cell power projects in North America, as well as one of the global centers for green energy innovation — named a “Top 3 State” for fuel cell development by the U.S. Department of Energy.
From ESPN and NBC Sports Group to ITV America and other media pioneers, the state is home to hundreds of production and post-production facilities, studios, game designers, software developers and more. Just as important, the skills and services you need are close at hand within the state.
With one of the fastest growing tech workforces in the nation, Connecticut’s Innovation Corridor, stretching from Stamford along the shore to New Haven and up the Connecticut River to Hartford, has the infrastructure, partners, and industry support to help your business thrive.