Aug 1, 2013
02:11 PM
Connecticut Today

Forbes Parses How 'Rich Connecticut' Now One of Nation's Worst Economies

Forbes Parses How 'Rich Connecticut' Now One of Nation's Worst Economies

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The picture of Hartford's skyline that illustrates the column on forbes.com.

Connecticut has so many advantages that it might be hard to understand how it became one of America’s worst-performing state economies.

As we know, Connecticut is located along an important commercial corridor between New York and Boston. It’s well-served by railroads and highways. Major airports are accessible.  Connecticut has many charming towns, historic sights, stylish shops and nice beaches. CNN determined that of America’s 25 towns with the highest median family incomes, four are in Connecticut – New Canaan (#1), Darien (#2), Westport (#5) and Greenwich (#14). The most expensive American home ever offered for sale is Copper Beech Farm which, with an asking price of $190 million, has 50 acres of waterfront property in Greenwich.

Although Connecticut lacks a major high tech region, there’s a concentration of executive talent capable of managing large organizations. Many are in financial services.

Despite these attractions, during the past two decades some 300,000 more Connecticut residents have moved out of the state than have moved in. This compares with the current population of about 3.5 million.

Why the exodus?

See the full piece on forbes.com.

 

Jim Powell is a Senior Fellow at the Cato Institute and have written for a wide range of newspapers, magazines and websites. His books include "FDR's Folly," "Bully Boy," "Wilson's War," "Greatest Emancipations," "Risk, Ruin & Riches," "Gnomes of Tokyo" and "The Triumph of Liberty."

 

Forbes Parses How 'Rich Connecticut' Now One of Nation's Worst Economies

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