October 9, 2018

CT aerospace sector ranked No. 30 in attractiveness

PHOTO | Contributed
PHOTO | Contributed
A Pratt & Whitney geared turbo fan engine.

Connecticut's business climate ranks just below average nationwide in attractiveness for aerospace companies, according to rankings by PricewaterhouseCoopers (PwC).

The state's attractiveness for commercial aviation firms ranked No. 30 in the U.S. in 2017 based on its highly-skilled workforce (No. 2) and poor scores in average energy, labor and transportation costs (No. 47) and state-local tax burdens (No. 48), PwC said.

Connecticut's infrastructure ranked No. 20, industry No. 14 and economy No. 32, the rankings said.

Aerospace industries in all 50 states, the District of Columbia and Puerto Rico were graded in attractiveness based on industry size and profit margin, union flexibility, individual income tax, quality of electric supply, manufacturing output, exports, real gross state product (GSP) and other measures.

Connecticut's aerospace sector attractiveness ranked third in New England behind Massachusetts (No. 18), New Hampshire (No. 21) and ahead of Rhode Island (No. 41), Vermont (No. 48) and Maine (No. 51). New York ranked No. 16.

The nation's aerospace industry, which ranked first in the world with $240 billion in sales last year, was led in attractiveness by Washington, Texas, Georgia, Arizona and Colorado.

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