Although two-thirds of Connecticut businesses showed a profit last year, fewer than half plan to make job-creating investments in the state, according to a recent survey from the state’s largest business group, the Connecticut Business and Industry Association.
The survey questioned 331 top executives in Connecticut. It found that despite slow economic and job growth, profitability is at a 10-year high, as roughly two-thirds of survey respondents recorded a profit last year, a level not seen since 2006.
Yet, less than half said they will continue to make job-creating investments in Connecticut.
According to the survey, costs of complying with state regulations was seen as the number one challenge for Connecticut businesses this year. Taxes ranked a close second, followed by uncertainty or unpredictability with legislative decision-making and the state’s high cost of living.
