State Budget News

If you have not been following our State's attempt to balance its budget, you should.  Tax receipts on April 15th did not turn out to be as robust as the Governor had hoped, and now we either need to raise taxes or cut expenditures.  Either choice will result in bad press for doing business in Connecticut, and make it harder to grow our economy. 


Sometimes people don't realize how important it can be to write, call, or email your State representatives and Senators.  They receive surprisingly few communications directly from constituents, and they take them seriously.  I recently was speaking to a State Senator, who was amazed at my reporting that people were selling their properties and leaving the State because of our high estate tax.  He didn't believe me, actually, but I have the feeling that he will check it out, and find that it's true. What will he do about it?  Maybe think about it the next time tax receipts don't match expectations. 


If you have a specific suggestion, make it.  If you know what would make a difference for you, in hiring, sales, profits, or ownership, say so.  The reverse is also true-what are your biggest problems?  And read the news--you may be glad you are running a business, instead of being Governor!

DECD Tries New Initiatives

Last week in Guilford, I heard our new Commissioner of Economic and Community Development, Catherine Smith, give a presentation on what her agency is doing to attract jobs and improve the economy in our state.  There were some things we already knew about, some things that we wish would go away, but some surprising new programs.  From a commercial real estate point of view, the best was a new incentive for entrepreneurs, where the State would subsidize their rent.  We have so much space available, and, as I discussed in my last blog, much of it would be perfect for start-up businesses.  The details, along with the details of some of the other job creation measures, are on the DECD website, although she did say that streamlining the website was one of her priorities.  It's not easy to navigate.  However, if you do, you may find something that changes your mind about the old phrase "I'm from the government, and I'm here to help you"!