CBIA campaign aims to boost CT’s business rankings
John Rathegeber, president and CEO, Connecticut Business & Industry Association
State business rankings often make for good political fodder, but do they actually mean anything, or influence where companies choose to operate?
John Rathegeber, president and CEO of the Connecticut Business & Industry Association, says they absolutely do.
That's why the head of the state's chief business lobby is leading a new campaign called CT20X17, which aims to get Connecticut in the top 20 of most business rankings by 2017. That's a tall task for a state that often finds itself in the lower ranks of many business climate surveys. CNBC's America's Top States for Business rankings, for example, put Connecticut No. 45 in the country, while Forbes ranks the state No. 33.
“These rankings do matter,” Rathegeber said. “They influence businesses inside and outside the state of Connecticut. When you rank in the 30's and 40's you're taken off the radar screen, and it's a barrier to companies in Connecticut making investments here.”
CBIA's CT20X17 campaign aims to direct attention to Connecticut's business climate during an important election year in which the governor's seat will be up for grabs. Rathegeber said he would like the topic to be a focal point during debates.
CBIA is trying to build grassroots awareness beyond just the business community. They will run an advertising campaign on TV, radio, and in newspapers to gain broader public support.
CBIA plans to connect with average residents by making the message about economic competitiveness, Rathegeber said.
“This is about sustaining Connecticut as a place where you want to live and work,” he said.
The CT20X17 campaign, which also has the support of many local business chambers, asks state lawmakers to focus on several key areas: fiscal policy, education, transportation, business costs, and regulations. The first step, Rathegeber said, is to make sure lawmakers are actually talking about the issues. CBIA hopes significant change is implemented next year, after the election and when the state needs to adopt a new two-year budget.
One area that needs to be addressed, Rathegeber said, is the state's overreliance on income taxes, which creates budget shortfalls during economic downturns. He'd also like to see the gift tax eliminated and the state's long-term debt brought under control.
Rathegeber said trying to make Connecticut a top 20 state to do business could be a positive effort that brings lawmakers on both sides of the aisle and CBIA together.
“We spend a lot of time saying, 'No' on things because there are a lot of bad policy ideas out there,” Rathegeber said. “This could be a positive initiative to look forward to.”
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