Survey of CEOs Finds Connecticut Bad for Businesses

HARTFORD — A survey released last week highlighting the opinions of company executives shows they believe Connecticut isn’t the greatest place to run a business because of taxes and regulations, news Rep. John Piscopo contends should finally open the eyes of legislators from every corner of the state.

Chief Executive magazine’s annual “Best and Worst States for Business” saw the publication’s staff ask more than 600 executives to rate states based on criteria such as taxes and government regulation.

Connecticut fell seven places from its previous ranking, leaving the Nutmeg State in 45th place—and in the same boat as infamous anti-business outposts California and New York.

“This news doesn’t surprise folks in Connecticut’s business community, who just a year ago watched super majority legislators propose a grab of corporate profits to help close the state’s budget hole,” said Piscopo, a member of the Finance Committee. “If our goal is to help spur private sector job growth, we can’t keep leaning on businesses to remedy Connecticut’s budget problems.”

Connecticut faces a projected budget deficit of $3.5 billion. Unemployment remains high.

Piscopo, who represents Thomaston, Harwinton, Burlington and Litchfield, contends that helping businesses grow would produce a more substantial and lasting source of revenue than additional taxes.

“Connecticut rates poorly, but that doesn’t we can’t carve a new path for businesses,” he said.

To start with, attaching a jobs impact statement to each piece of legislation would give legislators perspective on how a proposal would affect a company, Piscopo said.

Piscopo again called for repealing the business startup tax, and he said Connecticut must continue to streamline its permitting process for businesses—red tape that’s giving employers headaches.