In New England, Most Believe At Least Half of High School Grads Not Ready for College, Career

New Englanders overwhelmingly believe that at least half of high school students across the region graduate unprepared for college and a career, and that student-centered learning environments are part of the solution to this readiness problem. That’s according to the results of a poll that reflects growing concerns that children are not fully equipped for life after high school.  It is seen by some as a tipping point in public opinion that positions student-centered learning—which tailors education to the interests and needs of each student—as an answer to providing young people with the skills and knowledge they need to succeed upon entering post-secondary education and the workforce.

That’s according to the Nellie Mae Education Foundation (Nellie Mae) which released the poll that was conducted by the Rennie Center for Education Research & Policy, which surveyed 2,400 individuals across the region from August 5-31, 2016.

“Although graduation rates are at an all-time high, New Englanders are well aware that a diploma alone is no longer sufficient to ensure success for our students after high school,” said Nick Donohue, president & CEO of the Nellie Mae Education Foundation.

Among Connecticut residents, 33% said most graduates are prepared for college and a career, 48% said about half of graduates are ready, and 18% believe that “few graduates” are prepared for college and career.  Connecticut and New Hampshire had the highest percentage indicating that “most graduates” are prepared, with one-third of respondents (33%) expressing that view.

“Too frequently students arrive at college requiring developmental or remedial classes to strengthen basic skills just to move on to college-level material, or they begin careers without the tools and skills necessary to help them early on in their professional lives. The situation is more severe for people in traditionally marginalized communities – places that we need to prosper so our society can advance. The good news is that student-centered approaches to learning represent a path forward in which all students can succeed.”

There were some differences among the states.  In Connecticut, 48 percent said “some changes are needed, but basically schools should be kept the same.”  Only 14 percent said “public schools work well as they are now,” while 30 percent said “major changes are needed” and 8 percent said “a complete overhaul is needed” (the smallest percentage among the New England states).

A significantly greater proportion in Rhode Island believe “a complete overhaul is needed” than in Connecticut, Massachusetts, New Hampshire and Vermont.   A significantly greater proportion in Maine believe “a complete overhaul is needed” than in Connecticut.

Nearly two-thirds of those surveyed in Connecticut (64%) called for “using technology to enhance the way students learn in the classroom” – the highest percentage among the six New England states.  A majority called for “more significant efforts to close achievement gaps” (59%), more effective teachers (62%) and changes to the ways schools are funded (57%).  The state legislature in Connecticut is currently considering changes in the school funding formula proposed by Gov. Malloy in the wake of a state court decision.

According to Nellie Mae, across New England, only 50 percent of high school students are graduating with the skills and knowledge necessary to succeed after high school. These poll results show that New Englanders not only agree this is unacceptable, but that 90 percent believe that student-centered learning environments are part of the solution toward ensuring high school graduates are college and career ready.

Nellie Mae defines student-centered learning as personalized and happening anywhere, anytime. In student-centered environments, students move ahead based on mastery of content rather than class-seat time and they exert ownership over their own learning.

New Englanders found teachers to be among the most trusted group when it comes to educational decision-making and showed confidence in their ability to improve public education. Respondents also reported having confidence in parents and school and district leaders for improving education.

The poll comes amidst efforts by Nellie Mae to reshape public education in New England to reach an aggressive benchmark of 80 percent college and career readiness among our high school graduates by 2030. The Foundation is investing $200 million in grantmaking efforts toward advancing student-centered learning in schools and districts across the region in order to achieve this goal.

The Nellie Mae Education Foundation is the largest philanthropic organization in New England that focuses exclusively on education.

To read the poll report in its entirety, please visit http://bit.ly/2k4Dvv5

Fun in CT? Ranked 37th in the US, But Among Leaders in Marinas, Fitness Centers, Money Spent on Recreation

While Connecticut ranked 37^th overall among the nation’s 50 states analyzed for their “fun” quotient, the state did have some standout rankings in specific categories – including the amount of money individual residents spend on recreation.  Despite ranking 35^th overall in “entertainment & recreation” categories and 40^th in “nightlife,” the state reached the top five in three sub-categories. In the analysis by the financial website WalletHub, Connecticut ranked third in the number of fitness centers per capita, at 15.7. New England neighbor Massachusetts ranked #1 with 17, and New Hampshire, New Jersey and Montana rounded out the top five in that category.

Connecticut ranked #1 in number of marinas per capita, tied with Maine and Rhode Island. Connecticut has 3.48 marinas per 100,000 residents, the data indicated. Maryland and Vermont ranked fourth and fifth, respectively.

In another top five finish, Connecticut ranked fourth in Personal Expenditures on Recreation per capita, at just over $1,900. Minnesota ranked first at $2,058. The Top 5 states, in order, were Minnesota, Massachusetts, Colorado, Connecticut and New Hampshire.

Overall, the “most fun states” were Nevada, South Dakota, Colorado, North Dakota, New York, Wyoming, Oregon, Louisiana, Montana, Hawaii, Maine, Minnesota, Florida, Vermont and California.  At the bottom of the list were Arkansas, Kentucky, Alabama, West Virginia and Mississippi.

The overall rankings were weighted 80-20 between Entertainment & Recreation and Nightlife.  The Entertainment & Recreation categories included restaurants, beaches, movie theaters,  national parks, arts venues, and state spending on parks and recreation. The nightlife category included average beer & wine prices, movie costs, music festivals and access to bars.

Data used to create the ranking, which included 22 separate sub-categories, were collected from U.S. Census Bureau, Bureau of Economic Analysis, National Park Service, Council for Community and Economic Research, TripAdvisor, Beachapedia, Stadium and Arena Visits, Graphiq, American Gaming Association and WalletHub research.

Edible Arrangements, Subway Take Steps Forward and Back in Roller-Coaster Economy

Two of Connecticut’s leading food franchise success stories - Edible Arrangements and Subway – have both been in the news in recent days, seemingly moving in opposite directions.  Subway, for the first time in memory, is reducing the number of franchises across the country, while Edible Arrangements is in the midst of extending its brand, as its founder has taken back control of the equity in the business. Subway dropped 359 U.S. locations in 2016, the first time that Subway has had a net reduction. The store count dropped 1.3 percent to 26,744 from 27,103, but Subway remains the nation’s most ubiquitous eatery. (Behind only McDonald’s in sales.) Sales at Subway franchises fell 1.7 percent last year to about $11.3 billion, according to published reports. Subway is still growing internationally, with sales outside the U.S. increasing 3.7 percent to $5.8 billion last year, as the company continued to open locations.

Subway was founded about 52 years ago by Fred DeLuca and Peter Buck in Bridgeport. DeLuca died in 2015, leaving the company in the hands of his younger sister, Suzanne Greco, who became chief executive officer. The chain’s restaurants are entirely owned by franchisees.

Since its founding in 1999 in East Haven, Edible Arrangements has grown to more than 1,300 locations worldwide. Tariq Farid developed a "healthy obsession with fruit," and used his experience in the floral industry insight to develop a new business concept: fruit bouquets. Edible Arrangements began franchising in 2001, according to the company website.

Farid has completed a buyback of equity of the company which had been held by Greenwich private equity firm L Catterton.  The company has entered into a strategic partnership with L Catterton in June of 2012. Farid said the relationship provided assistance during a key growth phase for the brand, a time in which Edible Arrangements expanded into offering fresh fruit smoothies, froyo fruit blends, chocolates and more.

“The timing was right to take back full ownership so that I could be more fully engaged in building the future of the brand with our franchisees," Farid said, adding that "Edible Arrangements finds itself well-positioned for a future that includes exciting new opportunities for our franchises and the brand.”

Edible Arrangements has launched a system-wide conversion of traditional stores to a "whole-store" experience in the Edible To Go platform, featuring fresh fruit smoothies, froyo fruit blends and other fresh fruit treats. The company is coming off a year in which it registered a 27 percent increase over the previous year in both the number of new store openings and signings of new franchise agreements. It was named in Entrepreneur's Top 40 of "Fastest Growing Franchises" and "America's Top Global Franchises" as well as being included among the "Inc. 5000" list of the fastest growing privately-held companies.

"This is an exciting time to be a part of Edible Arrangements," Farid said. "At heart we are really a family of small businesses that have enjoyed incredible growth through a shared passion and willingness to work together towards common goals. Now we can focus all our energy on working together on the next evolution of the Edible Arrangements brand."

Edible Arrangements is headquartered in Wallingford; Subway is headquartered in Milford.

Some of Most Valuable Global Brands Are Connecticut-Based Businesses

Connecticut remains ranked among the top 10 states for corporate brands, according to a new study.  London-based Brand Finance has calculated Connecticut as being home to 20 of the 500 most valuable brands in the nation.  Connecticut ranked seventh. The state also was strongly represented among the 500 most valuable brands in the world, with a half-dozen earning a slot in the global rankings.

The Spectrum brand of Stamford-based Charter Communications is now the most valuable among Connecticut-based companies, at number 83 in the rankings of most valuable global brands, and number 43 among U.S. companies.

Health insurance giant Aetna, which has flirted with merger and departure in the past year but remains headquartered in Hartford, is number 166 on the list of most valuable global brands, moving up from number 188 on last year’s list.  Among U.S.-based brands, Aetna ranked at number 70.

Booking.com, part of The Priceline Group, came in at number 274 on the global rankings, down from number 201 a year ago.

Bloomfield-based CIGNA, which also had a merger thwarted in recent months, was ranked number 305, jumping more than 100 positions on the list, from number 439 last year.

ESPN, with world headquarters in Bristol, is at number 381 on the global list, down from 356 a year ago.

Norwalk-based Priceline was ranked number 386, down from 357 last year.  Xerox, also based in Norwalk, was just behind at number 389, up from number 396 a year ago.

Subway, which recently announced the closure of more than 300 U.S. restaurants in 2016, was ranked number 464 on the list, down from number 417 in the previous annual ranking.

The top ranked global brands were Google, Apple (which switched places from a year ago), Amazon.com, AT&T, Microsoft, Verizon, Walmart, Facebook, Wells Fargo, McDonalds, IBM and Boston-based GE. Six years after it last held the title in 2011, Google is now the world’s most valuable brand with a value of US $109 billion, according to Brand Finance.

NBC, which is not headquartered in Connecticut but has operations in Stamford, was ranked number 93 on the list of the top global brands.  Xfinity, also part of the Philadelphia-based Comcast corporate family, is ranked number 37.

Also earning a spot on the U.S.-based top 500 list are Sheraton (part of Stamford-based Starwood), Carrier (United Technologies), Frontier, United Technologies, Otis (United Technologies), The Hartford, Pratt & Whitney, Praxair, Harman International, and Pitney Bowes.

On the industry-specific list of the most valuable global toy brands, topping the list is Lego.  The company, based in Denmark, has operations in Connecticut.  Lego was also named the world’s most powerful brand, along with google, Nike, VISA, Disney, NBC, PWC, Johnson & Johnson and McKinsey & Company. Lego scores highly on a wide variety of metrics including familiarity, loyalty, promotion, marketing investment, staff satisfaction and corporate reputation.

Financial accounting and reporting standards requires a clear definition of what intellectual property is included in the definition of ‘brand’, Brand Finance points out.  The website defines brand as the “Trademark and associated IP including the word mark and trademark iconography”.

Most Valuable Brands of Connecticut Based Companies (Ranking on list of US Companies) – Spectrum (43), Aetna (70), Booking.com (108), CIGNA (126), ESPN (162), priceline.com (164), Xerox (166), Sheraton (189), Subway (196), Carrier (203), Frontier (208), United Technologies (232), Otis (292), The Hartford (332), Pratt & Whitney (340), Praxair (351), Harman International (372), Pitney Bowes (471), and United Rentals (475).

CT's Economic Performance Ranks 49th in US; Economic Outlook Ranks 46th

Connecticut ranks 49^th in economic performance during the past decade and the state’s economic outlook ranks 46^th among the nation’s 50 states in the latest “Rich States, Poor States” analysis by the American Legislative Exchange Council. The look-back at the decade 2005-2015 shows Connecticut ranking near the bottom in the three components that make up the ALEC-Laffer State Economic Competitiveness Index performance numbers.  The state ranked 47^th in state gross domestic product and 44^th in non-farm payroll employment, both below the national average, and 43rd in absolute domestic migration, which increased for the third consecutive year.

Connecticut’s overall economic outlook ranking, 49^th in the nation, represents a drop from 47^th in each of the past two years, and 44^th and 34rd in the two previous years.  Back in 20120, Connecticut ranked 36^th.  The economic outlook includes more than a dozen categories.  Among them, Connecticut ranks highest in sales tax burden (12^th), remaining tax burden (16^th), and debt service as a share of tax revenue (20^th).

“Each of these factors is influenced directly by state lawmakers through the legislative process,” the report points out. The policy variables “have a proven impact on the migration of capital—both investment and human—into and out of states.”

In the 10^th annual edition of the competitive outlook index, the lead states in the ranking are Utah, Indiana, North Carolina, North Dakota, Tennessee, Florida, Wyoming, Arizona, Texas and Idaho.  The highest ranking New England states are New Hampshire (number 18) and Massachusetts (number 25).  Joining Connecticut towards the bottom of the list are Rhode Island (number 36) and Vermont (number 49).

The Economic Performance Rankings (2005-2015) placed Texas, North Dakota and Washington State atop the list, followed by Utah, Colorado, Oklahoma, Oregon, South Dakota, North Carolina, and Montana.  Massachusetts was the highest ranked New England state, at number 18.

“Generally speaking,” the report indicated, “states that spend less—especially on income transfer programs, and states that tax less—particularly on productive activities such as working or investing—experience higher growth rates than states that tax and spend more.”

$93 Million in Tax Credits to Film, Digital Industries in Connecticut

An estimated $349 million was spent in Connecticut by qualified productions and $93 million in tax credits were issued to 25 media production companies under the state’s tax credit program during fiscal year 2016.  The tax credits are designed to boost the state’s economy by attracting film and digital productions to the state, creating employment opportunities for state residents. According to the Office of Film, Television and Digital Media, which supports and enhances Connecticut’s film, television and digital media industry, companies are provided with direct financial assistance programs, including but not limited to loans, grants, and job expansion tax credits structured to incentivize relocation to Connecticut and the growth and development of current Connecticut-based companies.

The breakdown by industry segment:

• Production Companies - $188 million spent; $56 million in tax credits issued
• Film Infrastructure - $106 million spent, $21 million in tax credits
• Digital Animation - $54 million spent; $15 million in tax credits

Film infrastructure tax credits went to companies including ESPN in Bristol and NBC Universal in Stamford; Digital Animation tax credits to Blue Sky Studios in Greenwich.

The production companies receiving tax credits from the state included well-known names such as A&E, Connecticut Public Broadcasting, ESPN, World Wrestling Entertainment and Bob’s Discount Furniture, which received just under a million dollars in tax credits under the program.

The legislation, first approved in 2006 and amended twice during the past decade, makes it possible for eligible production companies to receive a tax credit on a sliding scale of up to 30 percent on qualified digital media and motion picture production, pre-production and post production expenses incurred in the state. The Office “actively assists local, national and international motion picture, TV and media production entities with finding locations in Connecticut, rules and procedures, securing permits, hiring local cast and crew and other services,” according to the agency’s website.  In addition, the Office “represents the state and its agencies, municipalities and resident media professionals in interactions with media production entities and the industry at large.”

The popular reality courtroom drama “The People’s Court” announced this month plans to move to a new location on Stamford’s West Side. The show’s production company, Ralph Edwards/Stu Billett Productions, is moving its headquarters to an 18,739-square-foot space at 470 West Ave., from its current space at 300 Stillwater Avenue in the city. Ralph Edwards/Stu Billett Productions received nearly $4 million in tax credits in fiscal year 2016, spending just over $13 million in the state on a number of prominent program productions.

This summer, a digital training program will provide courses at the UConn Stamford Campus including social media management, web design and development, and manipulating digital content.  Digital Media CT (DMCT) is developed in partnership by the Connecticut Office of Film, Television & Digital Media and the University of Connecticut Digital Media & Design Department. It has been designed for individuals who want to develop the basic skills necessary to seek work in the industry or enhance their current skill set and advance their careers.

The program is described as most appropriate for individuals with prior or current professional experience in the industry, college graduates with majors in communications, film, television, marketing, and digital media, or students currently enrolled in relative academic coursework.

Later this year from Blue Sky:

https://youtu.be/jyJgGsZo2wA

Home Ownership in CT: Not Best, But Not Worst

When it comes to home ownership, Connecticut is in the middle of the pack among the nation’s 50 states.  A new report ranks the state at number 30, in the lower echelons of the states.  And when the report, by financial website ValuePenguin, identified optimal factors when considering homeownership, Connecticut faired more poorly in some key factors. Connecticut ranked 48th in affordability, followed only by California (49) and Florida (50).  New Jersey and Massachusetts were just ahead of Connecticut.  The best states for affordability were South Dakota, Wyoming and Idaho.

Ten factors, organized into three key categories were used to measure and rank the states. The three key categories of focus were: Housing Market Strength, Residual Costs, and Living Factors.

Factors that weakened a state’s position included propensity for crime, weak housing markets, and heavy burdens of costs to maintain a home – for instance the likelihood of property damage caused by storms and other calamities. Attributes that strengthened a state’s position included homeownership affordability, low mortgage rates, and low risk of calamities.

The 10 worst states to be a homeowner, according to the report, are Louisiana, Mississippi, Tennessee, New Mexico, and Alabama.  The best states, according to the analysis, are Iowa, South Dakota, Wyoming, Nebraska, Maine and Minnesota.

In terms of livability, the top states in the nation are the New England states of New Hampshire, Maine, and Vermont.

Best Small Cities to Start A Business? CT Has Only One - Danbury - Among Top 700 in USA

Only one Connecticut community is ranked in the top 700 “best small cities to start a business” in a new survey of 1,260 cities across the nation.  Danbury, ranked at number 170, was the sole Connecticut city to earn a slot among the nation’s business-friendly small cities.  The next Connecticut municipalities on the list were Torrington, ranked at number 749, and East Hartford, at number 775. To determine the best small cities in which to start a business, the financial website WalletHub’s analysts compared across three key dimensions: 1) business environment, 2) access to resources and 3) business costs. Included were cities with a population of between 25,000 and 100,000 residents.

Among Connecticut municipalities, also reaching the top 1,000 nationwide were East Hartford (775), Bristol (836), Westport (861), West Hartford (876), and Shelton (919).

The Danbury city website highlights that “assets and resources include a pro-business climate, a creative, educated and talented workforce, an excellent education system, transportation advantages, a superior quality of life and much more.”  The website highlights a Danbury business each week.

"We analyzed 21 Connecticut cities and out of these, Danbury ranked the highest at 170," said WalletHub analyst Jill Gonzalez. "Although it offers a strong business environment, the city has high business costs overall. Most of the cities (14 of them) ranked below the 1,000 rank because these fail to offer a thriving business environment, with little access to the resources needed to start a business as well as restrictive labor costs."

The analysis evaluated each of the three key dimensions using 16 relevant metrics. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for launching a business. “ A city with a smaller population can offer a greater chance of success, depending on an entrepreneur’s type of business and personal preferences,” WalletHub points out.

The business environment category (50 points) includes average length of work week, average growth in number of small businesses, number of startups per capita, average revenue per business, average growth of business revenues and industry variety.  The access to resources category (25 points) includes financing accessibility, human resource availability, higher education assets, working age population growth and workforce educational attainment.  The business costs category includes office space affordability, labor costs, corporate taxes, and cost of living.

Also earning a slot on the “Best Small Cities to Start a Business” list were East Haven (1,004), Norwich (1,014), New London (1,015), New Britain (1,022), West Haven (1,026), Wethersfield (1,028), Newington (1,032), Milford (1,053), Stratford (1,060), Norwalk (1,063), Meriden (1,079), Middletown (1,117), Naugatuck (1,185) and Trumbull (1,239).

Data used to create the ranking were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Federal Deposit Insurance Corporation, AreaVibes, Yelp, Indeed, U.S. News & World Report, Tax Foundation and LoopNet, according to WalletHub.

The top small cities for business in the U.S., according to the analysis, were Holland, MI; Carbondale, IL; Springville, UT; East Chicago, IN; Jefferson City, MO; Wilson, NC; Enid, OK, Rio Rancho, NM; Clearfield, UT and Cheyenne, WY.  The top ranked city in New England was East Providence, RI, ranked at number 38.

Accent on Exports in Connecticut; State Supports Business Outreach Overseas

If Connecticut were a country, it would be the sixth-most productive in the world, according to the state’s annual report by the department of Economic and Community Development. A critical building block for economic productivity is exports, and a look at the data reveals some surprisingly positive statistics. The backdrop is offered by more than 700 global companies that have subsidiaries here, employing more than 100,000 people, the Organization for International Investment points out.  The state’s convenient access to a variety of transportation options all provides access; there were 4.6 million tons of cargo carried on Connecticut rails in 2015, for example, and 11.4 million tons of freight shipped through Connecticut ports in 2013.

The U.S. Commercial Service and the Connecticut District Export Council have teamed up to create a series of events throughout Connecticut marking the annual Connecticut Export Week. These events will take place during  April 24-28. Connecticut Export Week 2017 will educate businesses on initiating and or expanding their global market. Officials describe Connecticut  Export Week 2017 as the only free event of it’s kind in the nation.  A series of free events and webinars will be offered at locations around the state.  Topics include exporting to China, expanding to new markets, initial market research, how to develop and maintain an export network, and export logistics.

“The ease of global travel and freight movement by rail and highway makes Connecticut a prime location for domestic and international trade,” the report points out.  Leading exports include: Aerospace/Transportation Equipment, Non-Electrical Machinery, Computers and Electronics, Chemicals, Electrical Equipment, Fabricated Metals Production, and Primary Metal Manufacturing.

The top three trading partners for the state are Germany (10.8% of state exports), Canada (10.7%), France 12.7%, United Arab Emirates (10.4%) and Mexico (8.7%).

The Connecticut Department of Economic and Community Development (DECD) recently called on companies to apply for grants of up to $7,000 for a wide range of export-related activities. Funding is from the Small Business Administration (SBA), which awarded Connecticut a $244,000 grant to help increase state exports and the number of small businesses that export. The Department has provided more than 350 grant awards allowing Connecticut companies to participate in Medica, the leading international medical device trade show in Dusseldorf, Germany; Hannover Messe, the world’s largest industrial technology trade show in Hannover, Germany; and the international air shows in Farnborough, U.K. and Paris. Additionally, companies can request reimbursement for trade shows, trade missions and other export activities specific to their industry.

“These investments are helping Connecticut’s small businesses compete in the global economy,” said DECD commissioner Catherine Smith. “For example, grants have been provided to companies to help offset the costs of attending the Farnborough Air Show, one of the most important air shows in the world. Without these grants many of the suppliers and component manufacturers in Connecticut’s supply chain could not attend, missing a key opportunity to establish important contacts and build relationships with the leading aerospace contractors across the globe.”

Independent Analysis Sought for State's Economic Incentive Programs

Timing is everything.  Just days after the Yankee Institute for Public Policy reported that a federal grand jury has indicted a former Vernon resident for using a fake pita company to fraudulently obtain $3 million, including $400,000 from the State of Connecticut, the state legislature held a public hearing on a proposal designed to enhance Connecticut’s analysis of the efficiency and effectiveness of the state’s economic development investments. State Comptroller Kevin Lembo, joined by a broad coalition of open government advocates, testified in support of the legislation.  “Connecticut can and should be one of the most economically competitive states in the nation – but that can only happen if we adopt best practice in how we analyze the success and failures of our economic development programs,” Lembo said.

“The state provides hundreds of millions of dollars in economic incentive programs to Connecticut businesses every year for the purpose of advancing economic development and job creation,” Lembo said. “The state owes it to businesses and all taxpayers to fully analyze the return on investment that these sizable and important programs actually deliver in order to assess whether such resources are fulfilling their intended purpose or, if not, whether state funds would be better deployed to other economic development or infrastructure investments.

The proposal, House Bill 7316, would improve how Connecticut analyzes the success and failures of its economic development investments in several ways, according to the Comptroller’s Office. It will streamline the reporting requirements, while expanding the scope of reporting to include all business assistance and incentive programs. It will subject business assistance and incentive programs to performance reviews by the Auditors of Public Accounts and require the Auditors to review the analysis and reporting performed by DECD on such programs – providing necessary independent oversight.

Lembo pointed out that “Connecticut is now one of only two states in the nation where the success of economic development programs is analyzed by the same agency that administers the programs. An unbiased assessment of the performance and administration of these programs has in other states resulted in opportunities for savings.

The Comptroller noted that his office has worked with both the Auditors of Public Accounts and the Department of Economic and Community Development, to “come to mutual agreement on the bill’s language.” The legislation would also require specific legislative committees to hold public hearings to discuss the results of the evaluations and receive input from stakeholders.

The Yankee Institute report indicated that the state’s Small Business Express program, which offer grants and loans to small businesses, awarded the now-indicted former resident a $300,000 loan and a $100,000 grant in 2012.  The report said that the state funding was meant to retain 11 jobs and hire 25 more people.

A broad coalition of open government advocates and organizations submitted testimony in support of the legislation.

On behalf of The Pew Charitable Trusts, Robert Zahradnik, Director of Policy, State Fiscal Health, said, “In Connecticut, as in many other states, business incentives are both a primary economic development tool and a major budget commitment. For that reason, The Pew Charitable Trusts’ research shows that studying the results of incentives is a vital step for states to create jobs, raise wages, help businesses to grow, and to maintain a balanced budget.”

Derek Thomas, Fiscal Policy Fellow at Connecticut Voices for Children, said, “Unlike general fund spending on education, roads, and other spending on the building blocks to a healthy economy, business tax breaks lack transparency. Once on the books, they can remain for years, or even decades, without scrutiny. A more efficient, transparent, and fair budget process would include regular reviews of all economic development incentives to ensure that tax expenditures are yielding the promised economic development benefits. Just like spending, business tax breaks should undergo regular scrutiny to determine their effectiveness.”

The Small Business Express program, which gives grants and loans to smaller to medium sized businesses, has “assisted 1,687 companies — ranging from 'mom and pop' stores to advanced manufacturing firms — with $267 million in loans and grants to retain 18,671 and create 6,795 jobs,” according to the DECD 2016 Annual Report.  In 2016, there were 194 businesses receiving assistance in exchange for commitments to retain 2,912 jobs and create an additional 931.  Total funding commitments were $35,408, 428 in grants and loans.  A year ago, DECD celebrated the 1,500th company to take part in “the governor’s keystone small business development program, the Small Business Express program,” the DECD report indicated.

Joe Horvath, Assistant Policy Director at Yankee Institute for Public Policy, said, "Good economic policy is broad-based and does not favor single businesses, or even industries. This bill would help provide state officials with critical information in determining which economic development programs fail to provide the returns promised, an important step to ending waste and cronyism in Connecticut." Added Daniel J. Klau, President of the Connecticut Council of Freedom on Information (CCFOI):  “CCFOI is very pleased to support this legislation that enhances public confidence in the effectiveness of economic development investments.”

The streamlined report will focus on the most pertinent information, Lembo said, including economic impact of each program, the extent to which it is meeting statutory and programmatic goals, and the efficiency with which the program is being administered. “These incentive programs reduce tax revenue at both the state and local level, and increase state borrowing. It is essential that the legislature review their impact and make informed decisions about the continuation, expansion or elimination of each program. The changes proposed in this legislation will help our state make data-driven decisions about tax credit and abatement programs, ensuring that we are focusing state resources toward their highest and best use.