CT ranks sixth in business brand value
Connecticut's top companies collectively rank No. 6 in the nation for brand value, surpassing Georgia to move up one spot from last year, according to the rankings from London consultant Brand Finance.
Connecticut companies represent 4.4 percent, or $114 billion, of the total U.S. brand value, according to the company's annual U.S. 500 Brands Report.
The top brand in Connecticut remains Fairfield conglomerate General Electric. GE's brand is valued at $48 billion, which represents 42 percent of the total brand value in the state. Milford restaurant chain Subway came in second with a $12.2 billion brand value.
Danbury industrial gas provider Praxair was one of Connecticut's new entries in the top 500 this year, with a brand value of $1.8 billion placing it at No. 321.
Brand Finance calculates brand value using the royalty relief method, which looks at attributes such as awareness, loyalty, emotional connection, market share, marketing spend, and financial forecasts. The calculations are not dependent on company earnings or profit, which Brand Finance said can be influenced by one-time cash influxes or charges.
Hartford conglomerate United Technologies ranked No. 10 on the list of top Connecticut brands, while its Farmington subsidiary Otis Elevator came in at No. 8.
In the 2014 list, UTC had two subsidiaries named to the Connecticut top 10 including East Hartford jet engine maker Pratt & Whitney at No. 10.
However, Pratt was bumped out of the state top 10 this year after ESPN joined the list, along with new tourism company Booking.com, which is part of The Priceline Group based in Norwalk.
– Brad Kane
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