Officials with the Western Connecticut Economic Development Alliance have recently completed their Comprehensive Economic Development Strategy, a 170 page report that provides details on the strengths and weaknesses of the region’s economy.
The report looks at what industry clusters in the region have been successful and what industry needs for continued growth in the region including workforce development, infrastructure needs and education.
The alliance is calling for an economic development corporation to spearhead the implantation of the report and its recommendations – at an operating cost of about $250k a year.
While some local officials say such an organization would be too expensive and isn’t necessary, others say a regional effort would help the area compete against other well organized areas such as the Hudson Valley, which has a large economic development corporation that handles marketing, business retention and other services for businesses in a seven county region.
To look at the report and make your own conclusion, click here.