Hello and welcome to the August edition of the CERC e-newsletter.
This month I want to talk about Opportunity Zones.Opportunity Zones are included in the new federal tax legislation and its a new tool for economic developers to bring investment into your communities.You have to be a designated opportunity zone and there are 27 communities in Connecticut that have 72 opportunity zones.
Last month we talked a little bit about golf as we were at the Travelers Championship and this month, let me remind you all that on Monday, we’re hosting the annual CERC golf tournament - and we’re actually doing it a little differently this year.We’re having golf starting at 7:30 in the morning, and then a luncheon at 1:30 with a panel.
Well… obviously I am not in the office today.Once again, we’re at the Travelers Championship at the TPC in Cromwell. Many of you know that for the last few years, we’ve done the economic impact analysis for the tournament and we were able to announce, earlier this year, a $68 million dollar impact that this tournament has on the state’s economy. Economic impact analyses are something we do for a number of clients across the state.
Did you ever think of all the people ...and disciplines… it takes to create a successful economic development deal? Some probably don’t identify that as their occupation... land use attorney, environmental engineer, housing advocate, P&Z member, developer, owner, commercial broker, construction manager, the list goes on and on. Each of these professionals is impacting the development and therefore the character of their communities. Think of how we could improve our communities and our economic growth if we got everybody to think of themselves as a team member... we could streamline regulations, shorten the approval time, get community input in a useful manner, etc.
I am honored to serve on the Working Cities Challenge Advisory Committee for the Federal Reserve Bank of Boston.We had our latest meeting yesterday and were joined by the five cities in Connecticut that were chosen to participate for the next three years in solving problems on the ground through collaborative efforts of cross sectors within their communities. It was also interesting that several of the researchers from the Federal Reserve Bank were there to talk about preliminary research they’re doing on whether collaborative efforts actually result in better economic growth for a region. I’m fascinated by this.
Hello and welcome to the March edition of the CERC e-news.
Many of you were likely at the Governor’s Economic Summit on Monday.It was one of the best, I think, that we’ve had since Governor Malloy has been in office, with both his message, and the message from the Fiscal Stability and Economic Growth Commission.Along with a panel discussing regionalization and collaboration in economic development, there was a workshop to talk through some of those issues.I found that fascinating and those of you who’ve been around awhile know regionalization is something that I’ve studied and advocate.
2018 is starting out to be quite the political year here in Connecticut, and the legislature is in session - it’s a short session but it sounds like they are very ambitious about getting some things done, not only on the budget but on economic development issues as well.
At the December meeting of the board of directors, they adopted a new value proposition for CERC and I thought I would outline that for you as there is resonance with what we have been doing and what we will be doing in the future.
Last Thursday at the Bushnell, we had our 8th annual Celebrate CT! event where we recognized the contributions of individuals, programs, and companies to the best of economic development during the last year.
We have a state budget! But we’re not nearly out of the woods yet. A new round of projected deficits is just over the horizon, and if prompt and substantial action isn’t taken, we’ll go through this again, and again.