AdvanceCT Transitions Leadership, Intensifies Economic Development Initiatives

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AdvanceCT, the state’s economic development outreach arm, began the year with new co-chairs -  Adam Norwitt, President & CEO of Amphenol Corporation and Judy Olian, President of Quinnipiac University.  Both Norwitt and Olian had been serving on AdvanceCT’s Board of Directors for several years and have assumed a more active role in the organization as co-chairs.

They are helping to lead AdvanceCT’s economic development mission, providing counsel and oversight as the organization works to attract corporate investment to Connecticut and ensure that the needs of companies currently doing business in the state are met, according to officials.

Adam Norwitt has served as President & CEO of Fortune 500-company Amphenol Corporation since 2009 and Judy D. Olian, PhD, became the 9th president of Quinnipiac University in 2018.

AdvanceCT, established five years ago succeeding the Connecticut Economic Resource Center, is a business-driven nonprofit that works to engage, retain, and recruit businesses to Connecticut. AdvanceCT collaborates with the Department of Economic and Community Development (DECD) and various partners to “implement high impact, equitable economic development. Our team advocates for and promotes Connecticut as a location for companies to compete and grow,” the organization’s website explains.

“Judy and Adam are great leaders, and we are looking forward to their advice, counsel, and leadership,” said John Bourdeaux, President & CEO of AdvanceCT, who assumed that role last year after previously serving as  President and Head of Business Development.  “Their knowledge of corporate America, the corporate decision calculus, and what it takes to lead far-reaching organizations, brings an important perspective to our work at AdvanceCT.”

Serving as Board Secretary is Josh Geballe, Managing Director of Yale Ventures; Treasuser is Dan O’Keefe, Commissioner of the Connecticut Department of Economic and Community Development.

Last month, the Board added Lutz Labisch,  President & CEO, TRUMPF Inc.; the U.S.-based branch of a German company. TRUMPF Inc. is one of the largest manufacturers of fabricating equipment and industrial lasers in North America. Labisch studied as a Fulbright Scholar at the University of Michigan and earned a master’s degree in industrial engineering and business administration from the University of Karlsruhe in Germany.

Board members also include: Donald Allan, CEO, Stanley Black & Decker; Larry Bingaman, President & CEO, Regional Water Authority; Gregory Butler, Executive Vice President and General Counsel, Eversource; Carlton Highsmith, Board Chair, ConnCorp; Margaret Keane, Former CEO & Executive Chair of Synchrony; Stacey Kennedy, President Americas & CEO of U.S. Business, Philip Morris International; Louis Lu, Senior Vice President, ASML; Judy Marks, President & CEO, Otis Worldwide Corporation; Salil Parekh, CEO & Managing Director, Infosys; Raj Ramachandran, Executive Vice President & Chief of Staff, HCLTech; Franklyn Reynolds, President & CEO, UIL Holdings; Kathleen Silard, President & CEO, Stamford Health; James Smith, JC Smith Advisors, Former CEO of Webster Bank; Jeffrey Sonnenfeld, Senior Associate Dean, Leadership Studies, Yale School of Management; and Jay Williams, President, Hartford Foundation for Public Giving.

AdvanceCT operations are based in New Haven. During 2023, AdvanceCT made Business Retention and Expansion (BRE)  a main priority, working with partners “to ensure that Connecticut companies, from Fortune 500s to startups, were receiving the attention and support they needed,” pointed out Vice President of Business Development Lisa Mercerio in the organization’s most recent annual report.  “The BRE and Partnerships team visited almost 850 of our Connecticut businesses and partners all over the state, including 70% of the top employers and developing 11 new relationships with employers not previously engaged.

Key industry sectors that are the focus of AdvanceCT efforts are Advanced Manufacturing, Life Sciences & Research, Aerospace & Defense, Insurance & Finance, Technology & Media, and Renewable Energy. To bolster the state’s competitive climate, the AdvanceCT team:

  • Researched how Connecticut’s programs for early-stage companies compare to those of our peer states and identified gaps that hinder company growth;

  • Examined how housing availability impacts workforce and studied how states are working to address their housing shortages;

  • Created multiple analyses on the semiconductor sector — an area of increasing strategic importance globally;

  • Assessed the state’s talent availability and cost for key occupations that are difficult to hire;

  • Reported on centers of excellence across the country to understand how they forge R&D partnerships between universities and businesses and fund joint projects; and

  • Analyzed best practices in semiconductor incentives.

AdvanceCT shares projects with policymakers to help with decision making and to ensure Connecticut remains competitive in these key areas.  The 2023 annual report also highlights more than two dozen “project wins and expansions” reflecting the success of economic development initiatives totaling 88 projects and $875M in capital investment during the year.