Businesses provide numerous benefits to an economy in the form of products and services for use by society, tax revenues to governments, payroll to employees, and innovations, among others. Businesses range in type from sole proprietors to multi-national conglomerates.
The AdvanceCT (formerly CERC) Blog features topics about research, marketing and business development topics related to economic development.
Many listeners are familiar with the free resources that AdvanceCT offers for information on the Connecticut commercial real estate market - such as property listings on AdvanceCT SiteFinder®; and the AdvanceCT Town Profiles, however, AdvanceCT also offers project-based services for real estate as well.
The second annual Greenwich Economic Forum will be held November 5th and 6th to convene the brightest minds in global finance, business, media and government for discussion and debate on the defining issues of our times.
Hosted by The New England Real Estate Journal and sponsored by the Southeast Connecticut Enterprise Region, or seCTer, the upcoming Connecticut Summit will be held October 31st at Mohegan Sun in Uncasville, Connecticut. Designed for those involved in the development business - developers, financiers, attorneys - anyone involved in major commercial development, to highlight what is going on in Connecticut and more specifically, in the Southeastern Region.
There were four Indian restaurants within a quick walk of where I had an internship while in college. The menu at Miah was pretty much identical to the other three – the recipes came from the same region, the food came from the same distributors, and the prices were similar. On the face of it, there was nothing to really set the four restaurants apart, and no reason to choose one over another. The difference, however, was apparent after you dined at Miah. It wasn’t just what the chef cooked that kept a line out the door every day at lunchtime. It was how the food was made and the way it was served that changed the experience.
In recent weeks, I’ve had many conversations with corporate location advisory consultants canvasing a variety of topics that range from the role of incentives and the impact they can have on a project, to infrastructure improvements and initiatives that focus on labor force pipeline and skills training.
Regardless of what the project scope demanded operationally, there was rarely an instance in which a location was chosen after having failed to showcase an ability to service the project’s short-term and long-term feasibility standards.
Often, new business owners are unsure of their responsibilities when it comes to collecting and reporting taxes. In this episode, Connecticut Department of Revenue Services Commissioner Scott Jackson - the state’s “Tax Man” - sits down with Beth Wallace, AdvanceCT’s Director of Business Services, to discuss the department’s role as part of a common enterprise in the state, what businesses need to do to be voluntarily compliant, and how to agency has employed process efficiencies and enhanced its technology profile to make it easier for taxpayers to receive communications, and do business with the DRS.
In January 2019, I started participating in the Quest Program through Leadership Greater Hartford (LGH). LGH is a nonprofit organization dedicated to providing leadership training for a number of demographic cohorts located within the Greater Hartford area. Quest is a program targeted at mid-career professionals that includes monthly workshops on a number of leadership-related topics and a “capstone” type project in a sub-group that takes on a particular issue facing the Greater Hartford area. Last week marked my final workshop, with my project presentation and graduation coming in October.
What is economic development and why should you care? As a resident or business owner in your town, you have the opportunity to impact the economic development decisions that not only affect the fiscal health of your town, but also the overall character of your community.
In years past, economic development focused primarily on job creation and GDP growth as ways to measure progress. While these are still important measures, modern economic development practices have expanded to include a focus on inclusivity—making sure that economic benefits and an improved standard of living accrue to residents across the spectrum, and not just to those in select categories.