northweSt ConneCtiCut BuSineSSeS - CBIA · 2012-11-26 · he northwest connecticut chamber of...
Transcript of northweSt ConneCtiCut BuSineSSeS - CBIA · 2012-11-26 · he northwest connecticut chamber of...
SponSorS
2012 Survey of
northweSt ConneCtiCut BuSineSSeS
IntroductIonT
he northwest connecticut chamber of commerce
and the connecticut Business & Industry
Association (cBIA) are pleased to collaborate
on the third biennial survey of businesses in northwestern
connecticut.
companies of all types and sizes were asked about their
highest business priorities, biggest challenges, and long-
term plans; their economic outlook; regional strengths;
and concerns about the state’s fiscal situation, tax
policies, and regulatory burdens. they also were asked to
identify resources they use to recruit workers and market
themselves, impacts they believe federal healthcare
reform will have on their business, and best bets for
spurring economic growth in the region and statewide.
Questionnaires were emailed in September 2012 to
1,100 businesses throughout northwestern connecticut;
responses were collected from 370 of them.
this report details the findings.
contentSIntroduction . . . . . . . . . . . . . . . . . . . . . . . . . 1
executive Summary
2012 Key Findings. . . . . . . . . . . . . . . . . . 2
top Priorities, challenges . . . . . . . . . . . . 4
outlook. . . . . . . . . . . . . . . . . . . . . . . . . . . 5
credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
taxes, regulatory Burden . . . . . . . . . . . . 6
Workforce Issues . . . . . . . . . . . . . . . . . . . 6
Healthcare . . . . . . . . . . . . . . . . . . . . . . . . 8
Social Media, Marketing . . . . . . . . . . . . . 8
conclusion . . . . . . . . . . . . . . . . . . . . . . . . 9
About the Survey
Methodology . . . . . . . . . . . . . . . . . . . . . 10
demographics . . . . . . . . . . . . . . . . . . . . 10
About the Sponsors
Alcoa, Inc. . . . . . . . . . . . . . . . . . . . . . . . 12
Bd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Litchfield Bancorp . . . . . . . . . . . . . . . . . 13
northeast utilities companies . . . . . . . . 13
northwest community Bank . . . . . . . . . 14
northwest connecticut chamber of commerce. . . . . . . . . . . . . 15
Webster Bank . . . . . . . . . . . . . . . . . . . . 15
About cBIA . . . . . . . . . . . . . . . . . . . . . . . . 16
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS2
2012 Key Findings While 34% of respondents say maintaining and
growing the manufacturing base should be the top
economic priority for northwestern connecticut, 25%
believe regional collaboration (e.g., among economic
development groups, banks, accounting firms, utilities,
and chambers of commerce) to attract business
investment is key.
72% of firms give the region’s economic climate a
below-average rating. only 6% rate the climate as good
(compared with 9% two years ago, and 28% in 2008).
More than half of all respondents (56%) expect
conditions to stay the same over the next 12 months.
Investments in towns/cities and education, along with
incentives for businesses to create jobs, are widely
executIve SuMMAry“This region’s ability to survive and thrive in the deepest recession in decades is testimony to the
strength and vitality of the business community dedicated to making northwest Connecticut an even better place in which to live and work. The regional collaborations that are in place will sustain our corner of the state as it rebounds and will help it thrive in this highly competitive global market.”
JoAnn Ryan | President & ceo, northwest connecticut chamber of commerce
n Maintaining/growingtheregion’smanufacturingindustry
n Regionalcollaborationtoattractbusinessinvestment
n Improvingthetransportationinfrastructure
n Affordablehousing
n Strengtheningentrepreneurship
n Improvingtowns/citiesandeducationtomakeareamoreattractiveforfamilies
n Maintaining/growingtheregion’stourismindustry
n Other
toP econoMIc PrIorItIeS For nortHWeSt connectIcut
34%
25%
10%
10%
8%6%
5%
3%
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS 3
viewed as the most helpful actions to spur economic
growth in the region.
2014 largely is seen as the greatest period of national,
state, and regional economic recovery in terms of jobs,
housing prices, and consumer confidence—although
a considerable number of respondents believe
conditions will not improve to any meaningful extent
until 2016 or beyond.
the majority of businesses (62%) say the cost of
doing business is a major challenge to employers in
northwestern connecticut, and 38% characterize the
region’s lending climate as below average.
More than one-quarter of respondents (27%) say
current credit conditions negatively impacted their
ability to do business. of those, 63% were unable to
grow or expand, 43% reduced their marketing budgets,
29% trimmed employee compensation or benefits,
and 24% reduced their workforce.
Healthcare costs specifically are considered a
“significant burden” by nearly two-thirds (66%) of
businesses. Government regulation (48%) and state
taxes (45%) also are significantly burdensome.
though costs associated with technology are not
seen as problematic by most businesses (only 9%
said they were a significant burden), nearly half of
all respondents (48%) admit that keeping up with
technology to promote their business is a challenge,
and 45% say quality broadband is an issue.
executIve SuMMAry
2012 20142013 2015 2016 or beyond
exPected econoMIc recovery oF joBS, HouSInG PrIceS, And conSuMer conFIdence
nNorthwesternConnecticutnConnecticutnU.S.
40%
35%
30%
25%
20%
15%
10%
5%
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS4
businesses cited the following:
weak economy (34%)
taxes (21%)
state mandates and regulatory burden (19%)
healthcare costs (9%)
energy costs (5%)
Many businesses were unable to choose a single answer
but cited a combination of factors or “all of the above.”
Still others, in open-ended responses, blamed
demographic trends—specifically, an aging population
and a dearth of young, skilled workers.
When asked how burdensome certain cost factors are
for their business, respondents said the following posed
a “significant burden:”
healthcare (66%)
government regulation (48%)
state taxes (45%)
energy (35%)
local property taxes (29%)
labor (17%)
marketing (13%)
technology (9%)
90% of businesses are concerned or extremely
concerned about connecticut’s budget deficit,
and 65% say the deficit affected their long-term
business decisions.
top Priorities, challengesWhen asked about the single greatest challenge to
operating a business in northwestern connecticut,
“It is gratifying to know that businesses agree on the exceptional place we call home, but the perception
persists that ‘poor credit conditions’ have had a negative effect on the economy. The community banks throughout the region stand willing and able to assist qualified borrowers and are certainly not part of the problem, rather part of the solution.”
Tom Villanova | President & ceo,Litchfield Bancorp
BurdenSoMe oPerAtInG coStS
nSignificantburdennModerateburdennSlightorinsignificantburden
LocaL property
taxes
29%
47%
24%
Government reGuLation
48%
34%
18%
HeaLtHcare
66%
28%
6%
enerGy (eLectric, oiL, Gas)
35%
48%
18%
state taxes
45%
39%
17%
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS 5
In addition to ramping up manufacturing (cited by 34% of
respondents) and regional collaboration to attract business
investment (25%), top economic priorities for northwestern
connecticut include strengthening entrepreneurship (10%)
and improving education and municipalities to make the
area more attractive for families (10%).
outlooknine out of 10 respondents are concerned
or extremely concerned about the state’s
fiscal situation and budget deficit.
two-thirds say the deficit impacted their
long-term business decisions.
In a question on what factors will have the biggest
influence on business operations and decisions over the
next 12 months, national economic uncertainties (44%)
came in first. the state’s fiscal condition came in second
(24%), followed by the price of energy* and commodities,
lack of skilled labor, and tight credit conditions.
the greatest period of economic recovery for the region
in terms of jobs, housing, and consumer confidence
is largely predicted to occur in 2014. the next biggest
cluster of respondents thinks it will be delayed to 2016
or beyond. Fewer than 15% of respondents expect this
type of recovery for the region, state, or u.S. in 2013, and
virtually no one expects it in 2012.
though businesses by and large believe economic
conditions will remain stable over the next year, 28%
anticipate some improvement, while 15% expect
conditions to deteriorate.
Forty percent of respondents expect their revenues to
increase in 2013, and 33% foresee an increase in their
pretax profits. on the other hand, decreases in revenue
and pretax profits are projected by 18% and 32% of
companies, respectively.
Most businesses anticipate no change in the size of their
workforce; however, 22% plan to add employees, and
11% expect to lose some.
extremely concerned
Slightly concerned
concerned
not at all concerned
54%
36%
9%
1%
concerned ABout connectIcut’S BudGet deFIcIt or FIScAL SItuAtIon?
* this survey was in the field just prior to Gov. Malloy’s announcement in october of connecticut’s new comprehensive energy Strategy, a blueprint for cheaper, cleaner, more reliable energy in the state.
In 2013, WHAt do you exPect oF nortHWeStern connectIcut?
nSignificantincrease nDecrease
nIncrease nSignificantdecrease
nStaythesame
number of empLoyees
21%
67%
10%
1% 1%
totaL saLes revenue
37%
43%
16%
2% 2%
pre tax profits
31%
36%
26%
6% 2%
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS6
creditcredit conditions posed a challenge for a number of
the region’s businesses.
More than one in four companies surveyed (27%) say
current credit conditions negatively impact their ability to
do business, restricting their ability to grow or increase
inventory, delaying their purchase of capital equipment,
and forcing cutbacks in their marketing budgets,
employee compensation and benefits, and workforce.
Many companies report that business has suffered
because their clients are unable to secure loans.
While 42% of respondents describe today’s lending
climate as average, 38% say it’s below average (fair
or poor). only 20% characterize it as above average
(18% say it’s good; 2% say it’s excellent).
taxes, regulatory BurdenIn an open-ended question on which federal and state
regulations most adversely impact their business,
respondents’ answers clustered in six main areas.
taxes—including state sales tax, payroll, unemployment,
personal property, and real estate taxes—are an
overriding concern, accounting for 40% of responses.*
(tax laws were characterized as “costly,” “confusing,”
and “difficult to administer.”)
other common responses:
mandated state healthcare provisions and the new
federal healthcare law (13% of responses)
labor laws (12%)
financial services regulations, including
dodd-Frank (11%)
environmental regulations (7%)
oSHA regulations (3%)
Workforce IssuesIn terms of hiring new employees over the last 12 months,
businesses in northwestern connecticut were nearly
evenly divided: 52% hired; 48% did not.
“The survey shows the need for state policymakers to focus on providing more confidence to area business
leaders by doing things like getting the state’s fiscal house in order.”
Peter M. Gioia | vice President & economist, cBIA
*In a separate question on taxes, the personal income tax was most worrisome for the greatest share of respondents (28%)—more than local property taxes (19%) or corporate taxes (18%). that is likely because a large number of companies surveyed are S-corporations, LLcs, and other pass-through entities—meaning that they pay their business taxes through the personal income tax.
dId your coMPAny HIre Any neW eMPLoyeeS over tHe LASt 12 MontHS? do you AntIcIPAte
HIrInG Any neW eMPLoyeeS over tHe next 12 MontHS?
Last 12 months next 12 months
Yes
52%Yes
38%
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS 7
the next 12 months look bleaker: only 38% plan to hire;
62% do not.
of those hiring, nearly half (46%) say they have had
difficulty filling positions.
In shortest supply are skilled manufacturing workers,
including cnc machinists, assemblers, welders, and
toolmakers. (to add to the problem, more than half of all
businesses surveyed believe the public has a negative
view of manufacturing jobs. only 26% believe there is
not a negative perception, and 23% are unsure.)
Also in demand throughout northwestern connecticut are
workers to fill positions in healthcare, management, sales,
housekeeping, and retail.
technology/computer, math/science, healthcare, basic
employability, and manufacturing-specific skills are all
seen as key capabilities for employees over the next
few years.
the quality of the region’s workforce is largely seen as
average (34%) or good (29%). twenty-six percent of
businesses describe workforce quality in the area as
slightly lower than average (26%). only about 6% of
respondents see it as poor; by the same token, only
5% call it excellent.
When asked how much training new hires need (on a
scale of 1-5, with 5 being “extensive training”), most
respondents put the level of training at 4 (33%) or 5 (24%).
the number and availability of workers in the region
presents an even greater problem. nearly 40% of
businesses say the availability of workers is poor or fair,
and 36% consider it average. one in six companies
surveyed say a lack of affordable housing hurts their
“Northwest Community Bank is pleased to once again partner with the Northwest Connecticut
Chamber and CBIA in this ever- so-important economic survey. As we continue to face many challenges in this difficult economy, this survey will provide us with the tools to navigate the current business climate and develop strategies for enhancing the economic vitality of the northwest region.”
stephen P. Reilly | President & ceo, northwest community Bank
3%5%
21%23%
29%
26%
36%
16%
34%
6%
excellent Good FairAverage Poor
HoW WouLd you deScrIBe nortHWeStern connectIcut’S WorKForce In terMS oF tHe FoLLoWInG?
nQuantity/availabilitynQuality
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS8
ability to attract and retain employees. A shortage of
young workers due to the area’s limited social/recreational
opportunities also is seen as an obstacle in attracting
employees (cited by 25% of respondents).
More than half of the businesses we surveyed (56%) said
connecticut’s aging population is a somewhat or very
significant concern in terms of their ability to maintain an
adequate workforce. one in 10 say that language barriers
are a problem for many of their workers. transportation is
an issue among 28% of employers surveyed.
Healthcarecompanies are divided on healthcare policy. While
62% do not support the federal Patient Protection and
Affordable care Act (“obamacare”), 38% do.
they are split on healthcare coverage as well: 62%
provide employee health insurance, while 38% do not.
Strategies believed to have the greatest potential for
reducing healthcare costs are tort reform to reduce
malpractice costs, a reduction in the number of state-
mandated health insurance benefits, and a greater
focus on prevention and wellness.
Social Media, Marketingnearly two-thirds of respondents (65%) use social
networking platforms such as LinkedIn, Facebook, and
twitter, but fewer than half (48%) use them to market
their products or services.
In 2009, when we first began tracking connecticut
businesses’ use of social media technology, only 22%
believed that LinkedIn, Facebook, or twitter held any
“The near-term prospects for a sustained recovery of the national, state, and regional economies are
concerning. Collectively we have to redouble our efforts to gain operational efficiencies and identify opportunities for growth. Our elected leaders need to work with us to find the solutions to the issues raised in this survey.”
John A. O’Toole | Project Manager,economic & community relations, cL&P–yankee Gas Services
3%
17%
23%
33%
24%
1 2 43 5
on A ScALe oF 1–5, HoW MucH trAInInG do neW HIreS need?
Less training more training
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS 9
potential business benefit. A year earlier, only 29%
considered the Internet a viable strategy for growing
their business. today, 80% of northwestern connecticut
businesses use the Internet as a marketing tool.
Print ads (55% of respondents) and direct mail (41%) are
deployed less frequently.
regional resources used to market products and services
include the northwest connecticut chamber of commerce
and the northwest connecticut Arts council.
the most widely used marketing vehicle for northwestern
connecticut businesses—cited by 82% of respondents—
is word of mouth.
conclusionWhen we last conducted this survey, in 2010, businesses
in northwestern connecticut predicted that a regional,
statewide, and national economic recovery would begin
in earnest around 2012.
clearly, it is taking longer than expected for the economy
to rebound.
nearly three-quarters of the businesses we surveyed
characterize economic conditions in the region as below
average, and six out of 10 expect those conditions to
persist at least another year. respondents generally see
2014 as the year of solid recovery and growth.
to achieve growth and create jobs, they believe
northwestern connecticut must strengthen regional
collaboration, maintain and grow the area’s manufacturing
base, and invest in improvements to towns, cities, and
education. In addition, credit needs to be more readily
available so that businesses can expand to their potential.
Policymakers have an opportunity to help in the next
General Assembly session by getting the government’s
fiscal house in order and addressing high business costs,
including the cost of healthcare.
“This survey captures important feedback regarding the issues impacting the business
climate in northwestern Connecticut as well as our entire state and nation. Those who responded are obviously very much engaged in the topics, as we received close to 400 replies from a broad spectrum of industries.”
Rick O’Brien | regional President Western connecticut, Webster Bank
“Many respondents indicated deep concerns about state and local economic conditions
compounding the problems we face at the national level. These results should spur decisive action to promote strong growth in the northwest corner.”
Dave Anderson | Plant Manager, Bd
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS10
Methodologythis survey was emailed to top executives at approximately
1,100 businesses throughout northwestern connecticut in
mid-September 2012. We received 370 responses, for a
return rate of 33.6% and a margin of error of +/-5.2%.
demographicsIndustries represented in the survey:
Professional services (20%)
manufacturing (19%)
Finance, insurance, and real estate (16%)
Retail (11%)
arts and entertainment (8%)
Construction (7%)
social services (6%)
hospitality and tourism (4%)
medical (4%)
Farming/agriculture (2%)
Wholesale distribution (2%)
Most respondents are business-to-consumer companies,
with 58% identifying residents of northwestern connecticut
as their primary market. Another 10% market primarily
to tourists and visitors to the region. ten percent are
B2B companies.
More than a third of businesses (36%) are privately held,
and almost as many (29%) are family-owned. Fifteen
percent are women-owned. Average company size is
103 employees. the average age of respondents was
54 years.
the vast majority of companies surveyed (93%) are
headquartered in connecticut. Most (82%) support local
philanthropic efforts, and one-third (33%) benefit from
such initiatives.
company types include:
Privately held (36%)
Family-owned (29%)
Incorporated (28%)
Limited liability corporation (21%)
Woman-owned (15%)
Publicly held (8%)
minority-owned (1%)
Foreign-owned (1%)
ABout tHe Survey
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS 11
ABout tHe Survey
20%PROfessIONAl
seRVICes
19%MANufACTuRING
16%fINANCe,
INsuRANCe, AND ReAl esTATe
11%ReTAIl
8%
7%
6%
fARMING/ AGRICulTuRe
(2%)
WhOlesAle DIsTRIBuTION
(2%)
hOsPITAlITY AND TOuRIsM
(4%)MeDICAl
(4%)
ARTs AND eNTeRTAINMeNT
CONsTRuCTION
sOCIAl seRVICes
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS12
BdBd is a leading global medical technology company
that develops, manufactures, and sells medical devices,
instrument systems, and reagents. the company is
dedicated to improving people’s health throughout
the world. Bd is focused on improving drug delivery,
enhancing the quality and speed of diagnosing infectious
diseases and cancers, and advancing research,
discovery and production of new drugs and vaccines.
Bd’s capabilities are instrumental in combating many of
the world’s most pressing diseases. Founded in 1897 and
headquartered in Franklin Lakes, new jersey, Bd employs
approximately 29,000 associates in more than 50 countries
throughout the world. the company serves healthcare
institutions, life science researchers, clinical laboratories,
the pharmaceutical industry, and the general public.
Visit bd.com.
Alcoa, Inc.Alcoa (nySe:AA) is the world leader in the production and
management of primary aluminum, fabricated aluminum
and alumina combined, through its active and growing
participation in all major aspects of the industry. Alcoa
Power and Propulsion, a business unit of Alcoa, consists
of Alcoa Howmet and Alcoa cast Products. this global
business is a leader in airfoil and structural investment
castings for the aerospace, defense, energy and
industrial markets. Its technology-leading products are
used primarily in jet engines and industrial gas turbines.
With 22 production facilities worldwide, Alcoa Power and
Propulsion employs approximately 9,000 people.
Alcoa serves the aerospace, automotive, packaging,
building and construction, commercial transportation
and industrial markets, bringing design, engineering,
production and other capabilities of Alcoa’s businesses
to customers. In addition to aluminum products and
components including flat-rolled products, hard alloy
extrusions, and forgings, Alcoa also markets Alcoa®
wheels, fastening systems, precision and investment
castings, and building systems. the company has been
has been a member of the dow jones Sustainability Index
for eight consecutive years. Alcoa employs approximately
59,000 people in 31 countries across the world.
Visit alcoa.com.
ABout tHe SPonSorS
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS 13
ABout tHe SPonSorSnortheast utilities companiesnortheast utilities (nu) operates new england’s largest
energy delivery company. nu and its companies are
committed to safety, reliability, environmental leadership
and stewardship, as well as expanding energy options
for its more than 3.5 million electric and natural gas
customers in connecticut, Massachusetts, and new
Hampshire. Headquartered in Boston, MA, and Hartford,
ct, nu is a Fortune 500 company traded on the new york
Stock exchange under the symbol nu.
Visit nu.com.
Litchfield BancorpLitchfield Bancorp is a well-capitalized, $200 million,
full-service mutual institution that has served Litchfield
county since 1850. We are proud of our heritage and
the record we’ve established as a highly responsive,
customer-centric institution. our branch network includes
offices in Litchfield, torrington, oakville, Washington and
Lakeville. As a mutual bank we have no stockholders,
and our only focus is on our customers and the
communities we serve. our directors and corporators
are recognized leaders in northwest connecticut, and
we seek their advice on how we can expand and improve
our services and products.
We offer a full range of services tailored to the needs
of the northwest connecticut business community and
have a special focus on professional organizations.
Most importantly we work as partners with our
commercial clients, and that teamwork is critical to
their growth and success.
Visit litchfieldbancorp.com.
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS14
northwest community Banknorthwest community Bank is a mutually owned, state-
chartered bank resulting from the 1996 merger of Winsted
Savings Bank and northwest Bank for Savings (formerly
Mechanics Savings Bank of Winsted). As we celebrate
our 150th year in business, we continue our long-standing
tradition of helping local businesses and residents grow
and prosper. We provide an array of financial services and
products, including safe, FdIc-insured deposit products
as well as loans for any worthwhile purpose.
In addition to its headquarters in Winsted, the bank has
branches in Avon, east Granby, Granby, new Hartford,
and torrington, as well as an academic branch in
northwestern regional #7 School in Winsted.
on january 31, 2001, northwest community Bank joined
Litchfield Bancorp to form the connecticut Mutual Holding
company, the state’s first multibank mutual partnership.
collinsville Savings Society joined the connecticut Mutual
Holding company on jan. 1, 2010. this affiliation allows
all three banks to better serve their customers without
losing personal service and local identity.
northwest community Bank is managed by local
people who are committed to continuing the tradition of
supporting local charitable and educational institutions.
directors, officers, and employees serve on many
boards of organizations, including the yMcA, the
united Way, local chambers of commerce, rotary clubs,
the community Foundation of northwest connecticut,
and many more.
the bank provides its customers with products and
services that are competitive, and it does that with
personal attention, recognizing that its customers are
its most important asset.
Visit nwcommunitybank.com.
ABout tHe SPonSorS
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS 15
ABout tHe SPonSorSnorthwest connecticut chamber of commercethe chamber of commerce of northwest connecticut has
been the premier business resource for 20 towns in the
region since 1901. throughout this period, the chamber
has worked tirelessly to fulfill its mission of promoting
economic growth while enhancing the quality of life in
northwestern connecticut.
the chamber and its education Foundation have
made great strides that are reflected in the resiliency of
the business community and beyond. Highlights that
demonstrate the commitment to growing a stronger region
include the economic development corporation, School
to career Pathways, Leadership nW, jr. Leadership nW,
WoW Forum, Score, the Legislative Agenda, Workforce
Investment, the young Professionals and the chamber
on Main, the chamber’s satellite office. All are examples
of the chamber’s dedication to increasing the awareness
of the economic, educational, cultural and civic
opportunities available to all.
It is the chamber’s goal that this valuable survey report will
be utilized as a guide in overcoming the challenges that
stand in the way of building a bright future for our region,
its businesses, its residents and guests.
Visit nwctchamberofcommerce.org.
Webster BankWebster Financial corporation is the holding company
for Webster Bank, n.A. With $20 billion in assets, Webster
provides business and consumer banking, mortgages,
financial planning, trust and investment services through
167 banking offices; 464 AtMs (290 of which are owned
by Webster and 174 of which are branded); telephone
banking; mobile banking; and the Internet. Webster Bank
owns the asset-based lending firm Webster Business
credit corporation and the equipment finance firm
Webster capital Finance corporation. We also provide
health savings account trustee and administrative services
through HSA Bank, a division of Webster Bank. Member
FdIc and equal housing lender.
Visit websterbank.com.
2012 Survey oF nortHWeSt connectIcut BuSIneSSeS16
connecticut Business & Industry AssociationcBIA is connecticut’s leading business organization, with
10,000 member companies. our public policy staff works
with state government to help shape specific laws and
regulations to support job creation and make connecticut’s
business climate competitive. our councils, committees,
and roundtables give our members forums in which to
become involved in the legislative and regulatory processes.
one of cBIA’s most important functions is to provide our
members with information to help them better manage their
businesses. We conduct training seminars and workshops;
arrange for consulting services; and hold conferences
on environmental regulations, health and safety, human
resources, compensation and benefits, taxes, energy, and
healthcare. our free telephone consulting service gives
members access to our experienced staff of professionals
on a wide range of business topics.
Many cBIA members take advantage of our employee
benefits plans, discount programs, and group purchasing
opportunities. these include innovative health and
dental insurance programs as well as other insurance
lines, retirement plans, a coBrA continuation program,
an eyewear savings plan, group energy purchasing,
and member discounts on everything from packaging
materials to background checks.
Learn more at cbia.com.
ABout cBIA
350 Church St., Hartford, CT 06103-1126 | 860.244.1900 | cbia.com