Fairfield County Business Journal Bracing for the downturn
Bracing for the downturn
Surplus evaporates and subprime woes loom
At the Connecticut Business Day event, keynote speaker Gov. M. Jodi Rell and top lawmakers met with business leaders and urged them to keep a tight ship through these economic horse latitudes.
About 300 Connecticut business people participated in the annual event sponsored by the Connecticut Business and Industry Association and the Connecticut Association of Chamber of Commerce Executives.
Executives mingled with the policymakers and urged them above all to “do no harm” to the state’s business climate.
According to Rell, Connecticut is in better shape than many other states, she felt it was important to remind business executives that now is the time for fiscal caution and conditioning. She referred to new numbers showing that what had been an expected $350 million state budget surplus at the end of the year was shrinking every day.
Rell said her February budget proposal to the Legislature would help the state economy now and poise it for later growth.
“We need to plan for the uptick in the economy, because it will follow,” said Rell.
She recommended measures to reduce costs for businesses and to help ensure a skilled work force.
Channel 30’s Tom Monahan moderated a board of Senate President Pro Tem Don Williams; House Speaker Jim Amann; Senate Republican Leader John McKinney; and House Republican Leader Larry Cafero.
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