HARTFORD: Responders to CBIA’s Fourth Quarter Economic and Credit Availability Survey demonstrate a stable but relatively slow growing environment.
Fewer than a third of companies 28% of companies expect to add employees, up from 21% in the previous quarter. More than half (54%) of surveyed companies say their workforce will remain stable—compared with 63% in the third quarter—while 17% expect to downsize, unchanged from the last quarter.
While Thirty-eight percent of businesses have an improved outlook for their firms, most Connecticut businesses are not participating in the ever increasing global marketplace, with 77% reporting they have no or a minimal amount of international business. 46% of the survey responders were manufacturers, 85% of responders had fewer than 100 employees.
Washington – In rare bipartisan agreement, Congress on Friday approved a massive budget deal that will increase federal spending in Connecticut, providing big boosts for the state’s defense industry and health care programs and even helping schools educate displaced students from Puerto Rico.
The budget deal increases both military and domestic spending.
It will raise defense spending to $700 billion for 2018 and $716 billion for 2019, increasing the number of F-35s the Pentagon will buy this year to about 90 and boosting money for the new Columbia ballistic missile submarine and the Virginia-class attack sub, which are both built by Electric Boat. The budget deal also is expected to increase the number of Sikorsky-made helicopters the military will buy this year and next.
NEW HAVEN: Garrett F. Sheehan has been named President of the Greater New Haven Chamber of Commerce and Quinnipiac Chamber of Commerce. Sheehan succeeds Anthony Rescigno, who led the organization for more than 17 years. Sheehan will begin work in his new position on March 1, 2018.
Sheehan said, “The Greater New Haven Chamber of Commerce is a pillar of our community and has an excellent track record of providing services for our membership and leadership on key issues affecting the New Haven region. I am excited to begin working with the staff, board, members, and volunteers of this amazing organization to help write the next chapter for the Chamber,” said Sheehan.
Technology has forever changed the local, state and national economy. It affects retail trade, services that we buy and products that we have come to know.
The landscape of retail continues to change. The list keeps getting longer for stores that are closing in the northeast and across the country. According to MoneyMagazine.com and many other publications, it is anticipated that over 25% of all shopping malls in the United States will likely CLOSE by the year 2022. This change in the retail marketplace began slowly and then accelerated quickly with the growth of the on-line marketplace. The last few years have been dominated by Amazon, who has changed the retail marketplace because of innovations such as Amazon Prime.