Issue Position: Jobs and the Economy

Issue Position

A Business Plan for Connecticut

Connecticut needs to get back on offense. We are the Gateway to New England, one of the world's most innovative markets, and we boast some of the world's most productive workers, but governor after governor has failed to lead, failed to translate our strengths into real growth. For the last 20 years we've been dead last in job creation, dead last in business creation, and our families have paid the price.

Connecticut needs a bold leader with a plan to create jobs and make government work for our families--and the courage to make that vision a reality.

I will make government move faster, establishing a one-stop website and 1-800 number where entrepreneurs get an advocate to help them start, fund, locate, staff, or expand a business as quickly as possible.

I will stop ineffective tax giveaways and instead make strategic investments, ensuring we provide more early-stage financing to promising firms and support industries where we already have the wind at our backs, like biotech and precision manufacturing.

I will reach out to businesses across Connecticut and empower a network of ambassadors to do the same, ensuring my government is dialed into business needs now, and threats and opportunities in the future.

I will create a culture of innovation, sponsoring forums and grant opportunities that bring together leaders of different industries to share best practices, patents, and talent.

I will modernize our transportation infrastructure, investing in our most congested areas, competing effectively for federal dollars, strengthening passenger and freight rail, and creating thousands of good jobs in the process.

I will invest in our people, improving our schools with innovative reforms, ensuring our kids graduate college with in-demand skills and well paying jobs, and offering full loan repayment for students at state colleges who stay in state after graduation.

I will attack high costs, building on federal reforms to bring down health care costs for small businesses and using federal and state dollars to create an army of energy entrepreneurs to make Connecticut the most energy efficient state in America.

Introduction

Connecticut needs to get back on offense. We are the Gateway to New England, one of the world's largest markets, and we boast one of the world's most productive workforces, but governor after governor has failed to lead, failed to translate our strengths into real growth. For the last 20 years we've been dead last in job creation,1 we're dead last in business creation,2 and our families are paying the price.

Connecticut needs a bold leader with a plan to create jobs and make government work for our families--and the courage to make that vision a reality.

In 2006, I stood up against the political establishment to oppose a war that drained resources needed to create jobs here at home. As an entrepreneur, I stood up against the big cable companies and won by setting a clear vision, listening to customers, and adapting to changing conditions. As Governor, I will stand up again, to all those who say the state's best days are behind us, and get Connecticut growing again.

I will start by getting government working again. I will reach out to businesses across the state and empower a network of ambassadors to do the same. Recently Alexion, our fastest growing biotech company, born and bred in Connecticut, decided to open its first production facility in Rhode Island. Alexion could have expanded here, but Rhode Island beat us to the punch. And who knows when another Marlin Firearms will leave? I will ensure businesses like Alexion and Marlin stay. I will also make government move faster, and focus our investments where Connecticut already has the wind to its back, in areas like precision manufacturing, finance, and life sciences.

As well, I will ensure we have a strong foundation for success. Connecticut has high energy costs, exorbitant health care costs, and a transportation infrastructure straight out of the 1950s; last year we even raised fees on small business and skilled trades. Unsurprisingly, a UTC executive recently remarked, "Anyplace outside of Connecticut is low cost."3 High costs are holding back our businesses from growing. As Governor, I will fight these costs and bring our infrastructure into the 21st century, creating thousands of construction and green jobs in the process.

Connecticut's never been a cheap state, but our businesses have prospered because we boast one of the most educated, most productive workforces in the nation. Yet even that great strength is at risk: many of our best workers are retiring, and we have the largest achievement gap between rich and poor students in America.4 I will reform education from cradle to career to ensure our workforce remains the envy of the world, and our kids enjoy the same opportunities we did.

Get Government Working Again

1. Change Government's Business Model

If my company still did business today the same way we did 20 years ago, we would have gone bankrupt several times over. Yet state government continues to do business the old way, and our competitors are starting to pass us by. I will hire top talent--strong executives from in and out of government, Republican and Democrat--to work with our state employees and make Connecticut the best-managed state in America.

Our economic development program is a relic of a bygone era. We spend $580 million per year on 102 initiatives administered by 24 separate agencies.5 Our corporation tax credits exceed $300 million annually, 100 times what they were 20 years ago,6 yet we haven't created a single net new job in those 20 years.7 We are sinking hundreds of millions into renting jobs for only so long as the tax credits last while our real job creators, small and new businesses, face higher taxes. None of this brings our families lasting prosperity. As Governor, I will:

Make government move faster. Time is money, and too often our government moves at a snail's pace. It's time we brought it into the 21st century.

Imagine one of our top manufacturers wants to hire 100 people and open a factory in Torrington to capitalize on its latest breakthrough--the Department of Environmental Protection (DEP) can take a year to grant approvals. By the time the facility is approved and built, the invention may no longer be cutting-edge, and China may be on the brink of producing it at half the price.

> l will accelerate the approval process at DEP. Across government, I will hire first-class managers and institute efficient, lean processes, the same our top businesses already employ.

> I will establish a 24-hour, 1-800 line and easy-to-use, one-stop website where entrepreneurs can get help to start, fund, locate, staff, or expand a business as quickly as possible. Businesses will get an advocate from day one who shepherds them through the process, cuts red tape, and answers their every question.

Stop ineffective tax giveaways and instead make strategic, long-term investments. We can't just invest in ribbon cuttings for next year. Rather than renting jobs for $100,000 apiece, I will make long-term, strategic investments in Connecticut's future.

I will refocus our efforts on the state's strategic advantages. For instance, UCONN and Yale have spun out scores of high-tech firms, and Connecticut is fast emerging as one of the country's top centers for biotech research and manufacturing. Like anchor stores in a mall, these institutions and companies can be a magnet for new business and new jobs.

> I will ensure we finance promising startups and support leading companies when they seek to expand.

> I will provide property tax relief for new businesses in urban areas, helping businesses get off the ground and encouraging investments in our cities.

I will also direct our state investments where they're most needed. Right now, funding for early stage businesses is scarce. We must offer financing to enable entrepreneurs to turn innovative ideas from lab experiments into commercially viable products. Our economic development agencies, like Connecticut Innovations (CI), must provide some of the critical funding for these startups, making smart investments in early stage companies to prepare them for private capital.

> I will make sure our agencies lend a hand earlier, when entrepreneurs have little but a dollar and dream, when it's either get $20,000 from CI or close shop. We have the nation's worst business creation rate; I will make certain more small businesses have the support they need to get off the ground.

As we make these strategic decisions, we must look to the future and focus on growth areas where we already have the wind at our backs. Our companies lead the world in fuel cell technology. These clean energy sources, made in Connecticut, are quickly finding customers across the globe. But our state government has offered too little support to one of our state's most promising industries.

> I will provide incentives to install fuel cells in new schools and public buildings, giving our manufacturers the guaranteed sales necessary to build another facility, add another shift, and create good jobs.

2. Get Connecticut Back on Offense

As Governor, I will focus like a laser on bringing jobs back to Connecticut. For too long, our Governor has sat at home while other leaders pound the pavement to grow and attract business. While Texas Governor Rick Perry is calling manufacturers in New Britain, our companies seldom hear a thing from our economic development leaders. When I ask local entrepreneurs about their interactions with the state, too often I hear, "What interactions?" Meanwhile, they need only tune to Connecticut public radio to hear how great Virginia is for business.

I will reestablish Connecticut's global brand as a hotbed of innovation so we can compete not just against Texas and North Carolina, but against the world. I will:

Zero in on business and job creation. My number one priority as Governor will be bringing businesses and jobs back to Connecticut for our working families. Nearly all job creation will come from small and new businesses already in state:8 my work will start with them.

> I will reach out to businesses across Connecticut and empower a network of ambassadors to do the same. These ambassadors, retired executives who know their industries inside and out, will ensure my government is dialed into business needs now, and threats and opportunities in the future.

> If I catch wind that a company is considering downsizing or moving out of state, I will dispatch a SWAT team of business leaders and economic development specialists to make certain Connecticut keeps those jobs. We will be the first to know about announcements like UTC's; we won't get our business intel from the newspaper.

> I will also advertise Connecticut internationally and ensure the Middletown export center that promotes our products abroad is fully staffed--our companies have world-class products, and I will help sell them around the world.

Create a culture of innovation. Not only must the state work closely with businesses, but we must also help businesses work closely together. Too often our entrepreneurs don't know of promising opportunities in their own industries, let alone other ones.

> I will work with Connecticut Technology Council, Connecticut Center for Advanced Technology, Connecticut United for Research Excellence, Connecticut Economic Resource Center, and others to sponsor forums and grant opportunities that bring together leaders of different industries to learn about each other's needs and skills.

For instance, our aerospace and defense industry controls thousands of patents, many of which could be crucial to our biotech industry. Cutting-edge optical technology for fighter-jet cameras may be exactly what our researchers need to look into human cells and invent the next life-saving drug, creating hundreds of high-paying jobs, from PhDs to GEDs. It's precisely this sort of collaboration I will foster as Governor.

Build the Foundation for Success

1. Modernize Our Transportation Infrastructure

Once the Gateway to New England, Connecticut has become a dead end. Our transportation infrastructure is stuck in the 1950s. In 2010, we can't afford a train that takes 80 minutes to go 60 miles from New York to Bridgeport. We can't afford to let freight trucks clog up I-95. Our location is a major competitive advantage, and we're squandering it with our antiquated infrastructure.

In a more accessible Connecticut, dollars and jobs could flow from New York to Bridgeport, New Haven, New London, and further into the state. And, our citizens could save millions of hours stuck in traffic, making them more productive and giving them more time with their families.

Connecticut needs a bold strategy that addresses rail and road, ports and airports, and links them all together in a 21st century transportation network. A national transportation revolution is underway, but we're sitting on the sidelines. Florida got $1.25 billion in federal funds for high-speed rail to Disney World; we got 3% of that for rail to Hartford.9 If we'd gotten those $1.25 billion, we could have brought high-speed to Connecticut and created over 30,000 quality construction jobs in the process.10

> I will invest strategically in the most congested areas, like Southwest Connecticut, rather than spreading our limited dollars thin around the state.

> I will improve the quality, speed, and scheduling of passenger rail by modernizing our stations, tracks, and trains.

> I will work with governors of nearby states to expand freight rail, moving more cargo across the Lower Hudson on tracks, not trucks--rush hour is bad enough without having to bob and weave around 18-wheelers.

> I will concentrate our scarce highway dollars on clearing dangerous, traffic-inducing chokepoints, those areas that shut down every day at rush hour.

> I will focus our growth on transit-rich urban cores--Connecticut was at its finest when we had vibrant cities, and I will ensure our kids have great cities to settle down in.

> I will get on the phone, get down to Washington, and get Connecticut back in the game for federal transportation dollars. Our future and our jobs are at stake.

2. Invest in Our People

Connecticut's number one advantage is our people: we have one of the most educated, most productive workforces in the nation. Yet that great strength is in jeopardy. Our workers are some of America's oldest and many are about to retire.11 In the generation that will replace them, the achievement gap between rich and poor kids is America's widest, and less than half of tenth graders meet state goals in math or science.12

Our prized education advantage is at risk and with it, our prosperity. Not too long ago, when many of our state's manufacturers worried about a shortage of engineers, CCSU petitioned the state to set up an engineering program. The request was rejected; then Sikorsky announced it was moving its major research facility to Bozeman, Montana. Governor Schweitzer had promised Sikorsky an engineering program to guarantee a ready supply of top-drawer engineers. I won't get caught flat-footed by Bozeman; I will make sure Connecticut has the best workforce in the country.

> I will spread across the state ground-breaking reform efforts like those in New Haven, where a courageous mayor and bold teachers union reached agreement on ways to link teacher and student performance, turn around failing schools, and help teachers do their jobs best.

> I will put Connecticut on the cutting edge of President Obama's national effort to reform education, competing for and winning federal funding like Race to the Top.

> I will ensure our colleges and businesses work together, as I have done at CCSU, so our companies get workers with the best skills and our kids graduate college with the best jobs.

> I will create a full loan repayment program for students at state colleges and universities who study high-demand fields like renewable energy, health technology, and life sciences and stay in state after graduation.

3. Attack High Costs

Energy. Connecticut has the highest energy costs in the continental U.S.,13 a crushing burden on our businesses and families. We can't hope to keep and attract high-paying manufacturing jobs if our companies are forced to pay sky-high electric rates. Energy costs are one of the biggest expenses in manufacturing, not to mention other industries.

> I will use federal and state dollars to create an army of energy entrepreneurs to weatherize our homes and businesses--sealing windows, replacing insulation, ensuring our dollars don't leak out. We can lower families' electric bills and put hundreds of unemployed young people to work in just a few months if we move fast.

> I will make it easier for our hard-pressed families and businesses to afford money-saving efficiency improvements by preserving funding sources like the Connecticut Clean Energy Fund and pursuing affordable new sources like federally backed PACE loans.

Health Care. Health costs are a massive tax on small businesses, and our businesses face some of the nation's highest.14 My small business, for instance, has seen our costs double over the last decade. I will turn Connecticut, America's insurance capital, into the model of reform, giving our businesses a true cost advantage over other states'.

> I will halt the rapid growth of health costs by promoting smart prevention efforts, expanding electronic health records, and appointing a strong commissioner who sees Connecticut as the $6+ billion health care company we have become,15 coordinating health spending across the government to lower costs.

> I will invite small and medium businesses, as well as towns, to join a larger insurance purchasing pool, giving them more bargaining power to save money.

> I will implement the groundbreaking SustiNet program to ensure Connecticut builds on the recently passed federal health care reform bill, bringing savings to our businesses and families as soon as possible.

Conclusion

We face serious challenges and real budget constraints. However, adversity can mean opportunity. Now is not the time to be timid; we've had two decades of timidity. Now is the time to chart a new course with a bold plan and unwavering commitment to provide good jobs for all our people.

We can't fix everything overnight, or even in four years, but we can accomplish a lot, and set a course to achieve even more. Strong leadership from the Governor's Residence can change government's business model and get Connecticut back on offense starting on day one. While tackling transportation, education, and high costs may take a little longer, we can begin by winning more federal dollars, initiating school reform statewide, weatherizing thousands of homes, and implementing SustiNet next year. It's time to stand up and get Connecticut growing again.

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