Monday, July 24, 2017

New Haven Outperforming Other Connecticut Cities

Fairfield County, with its big corporations, is still reeling from the actual, but even more the psychological, effects of GE's move to Boston.  GE is still leaving a lot of employees in Fairfield, but both the home and office market reflect the strain.  Hartford, on the other hand, is losing Aetna after a century and a half, and other big insurance companies have moved, downsized, or merged as well.  In addition, the city itself is teetering on the brink of bankruptcy, which doesn't improve its chances to pick up new office users.

That leaves New Haven, with its startups, biotech related to Yale, and medical complex, to pick up the slack.  New Haven also has an easier time of recruiting young professionals, since there is a vibrant nightlife scene, and many residential choices, from close-in city neighborhoods to high-rise condos and apartments.  New Haven officials and developers are banking that this will continue, and the future is looking bright for that trajectory. 

Now, if only Connecticut could solve its fiscal problems, we'd be all set.  Come on, legislators, help us out here!

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