Business: On the Road Again

The Hartford Courant reported today that the Connecticut unemployment rate is now at 6.6%, its highest mark in fifteen years (http://tinyurl.com/3fwwpk). If anyone had any doubts that the economic crisis was hitting hard at home, this should quell all rumours to that effect.

Of the ten major industries in Connecticut seven lost jobs in the past month. Congratulations, we're hitting .700, a remarkable career in professional baseball. Companies and workers are leaving Connecticut at unprecedented rates. With the highest per capita taxes in the country, it is amazing people would want to live here at all.

In 2006, Connecticut ranked 39th in Business Tax Climate (http://tinyurl.com/4k543r). With that terrible of a business climate in these dire economic times, how can we expect anyone to attempt to open up a new business in Connecticut, something we desperately need. For that matter, why would any struggling business want to stay? They could easily save money by moving somewhere else, and too many of them do.

New business creates jobs. Jobs lower unemployment. It is a simple answer, although by no means easy. But maybe we can make it just a little easier. Maybe we can create a business environment that appeals to attracting business, rather than one that punishes them for making money. Maybe, we can begin to turn all of this around