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Connecticut Market Data 1990-91

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/:_co~vYJ;c.:s !991 CONNECTICUT MARKET DATA 1990-91 I - -- ERRATA I Connecticut Market Data------------, Page 7 capital, working capital and grants to help All figures are in dollars of sales. companies develop and market new products and processes. Page 44 Eli Whitney Fund: Risk capital for new tech­ Connecticut Gross State Product by Industry-- nology-oriented products, services, and pro­ 1986 (upper right) should read (Millions of cesses; working capital loans at favorable rates for dollars). product commercialization. Connecticut Small Business Innovation Research Pages 84 and 85 Grants: Interim funding (up to $20,000) to compa­ Programs offered by and through the Depart­ nies that have received initial round of federal ment of Economic Development also include: SBIR funding and are awaiting a second round. Business Services - focuses on helping Con­ Technology Assistance Center: Clearinghouse necticut-based companies with in-state expan­ for technology information to assist Connecticut sions and relocations. The Manufacturing companies and institutions; resources and refer­ Assistance Center provides production, manage­ rals for technical, financial, research, and educa­ rial, sales, and locational assistance. The Business tional information. Ombudsman helps companies expedite dealings Connecticut Seed Ventures: CII affiliate offering with state government agencies. early-stage financing for high-potential innova­ Business Recruitment- helps find appropriate tive companies. sites for out-of-state companies wishing to develop or expand into Connecticut. Page 86 Connecticut Innovations, Inc. provides risk CII's phone number (upper left) is 258-4305. Cover Photo: STAMFORD TOWN CENTER by Debranne Cingari/© 1989 CONNECTICUT MARKET DATA 1990-91 For more information concerning the data in this publication, contact the original sources listed, or Jerry Silverberg (203) 258- 4235 Connecticut Department of Economic Development Policy, Planning and Research Division 865 Brook Street Rocky Hill, CT 06067-3405 Acknowledgements: Research completed by the Policy, Planning and Research Division of the Connecticut Department of Economic Development: Thomas Coffey and Jerry Silverberg under the direction of Jeffrey Blodgett. Martha Hunt, Director Design by Harry Rich Associates Copywriting by Mercaldi Communications Connecticut Market Data 1990-91 CONTENTS SECTION PAGE 2 MARKETS ............................................................................ 3 3 TRANSPORTATION. ........................... ..... ........................... 9 4 DEMOGRAPHICS ............................ .................................. 15 5 LABOR FORCE .................................................................. 27 6 INCOME ............................................................................. 35 7 ECONOMIC PROFILE .. .... ..... ... ..... .. .................................. 43 Gross State Product ....... ....... ...... ................................... 43 Manufacturing .................. ............................................. 4 7 Retail Sales ..................................... ............................... 52 Service Industries ............................ .............................. 59 Wholesale Trade ............................................................ 62 Finance, Insurance, and Real Estate .............................. 64 Foreign and Domestic Exports ...................................... 66 8 EDUCATION .............. ...................................... ... ... ........ .... 67 9 HOUSING ........................................................................... 71 10 QUALITY OF LIFE ............................................................ 79 Arts and Culture ............................................................. 79 Health Issues .................................................................. 80 Climate and Geography ................................................. 80 Recreation ...................................................................... 80 11 PLANNING REGIONS ............ ....................................... .... 81 12 BUSINESS SUPPORT PROGRAMS ................................. 84 Connecticut Market Data 1990-91 FOREWORD ONNECTICUT IS LOCATED in the development initiatives, it has helped high-technology companies, finan­ ..... heart of the Northeast's population and cial and service businesses, manufacturing firms and distribution facilities to prosper here. As a result, Gonnecticut enjoys one of the highest stan­ economic center, the corridor that starts in Wash­ dards of living in the country, with consistently high income levels and a ington, D.C and runs through Baltimore, Philadel­ wide choice of cultural activities, all amid a picture-postcard setting. Connecticut Market Data 1990-91, published by the Connecticut De­ phia, Newark and New York City and then heads partment of Economic Development, provides a convenient source of northeast to Providence, Boston and Portland. This relevant statistics about the State's economic and social climate. While a strategic location, which includes access to European shipping lanes, has publication such as this one cannot promise to impart all the facts, it is long been a prominent reason for the State's strong and diversified econ­ hoped that Connecticut Market Data 1990-91 will provide you with "a omy. Together with the State's labor force - one of the most productive tangible foundation to begin upon." and skilled in the nation - and an array of effective state-backed economic Connecticut Market Data 1990-91 CONNECTICUT RANKS .•. 1st in 2nd in 0 Per Capita Personal Income 0 Registered Automobiles Per 1 000 Residents 0 Per Capita Effective Buying Income 0 Per Household Ownership of Life Insurance 0 Per Household Effective Buying Income 0 Per Capita Patents Granted 0 Per Capita Value Added by Manufacture 0 Students/Computer Ratio in Public Elementary and 0 Machine Tools Per 1000 Population Secondary Schools 0 Per Capita Industrial Research Laboratories 0 High School Graduation Rate 0 The Number of Engineers Per 100 of Population 0 Patents Issued Per Million Residents 0 Fewest Business Failures Per 1 0,000 Listed Busi- nesses 0 Pupii/T eacher Ratio 0 Lowest Dropout Rate 0 Percent of Public Secondary Schools Students Taking at Least One Foreign Language 2 Connecticut Market Data 1990-91 MARKETS NE OF CONNECTICUT'S advantages is CONNECTICUT: A LOGICAL PLACE TO LOCATE A DISTRIBUTION CENTER it's proximity to a large marketplace. In With such close proximity to wealth, population and industry, it is not surprising that Connecticut is a hub of commercial activity. In the past fact, few, if any, other areas of the country are so several years, for instance, more than 100 U.S. and international manu­ close to a market this large and this wealthy. The facturers and retailers chose Connecticut as the site for their regional dis­ tribution facilities. In addition to its convenient location, other reasons to numbers speak for themselves: select Connecticut include: Within a day's drive ... 0 Excellent Transportation Facilities 0 32% of U.S. Income Payments 0 Availability of Suitable Sites 0 31% of U.S. Effective Buying Income 0 Good Labor-Management Relations 0 30% of U.S. Retail Sales 0 Favorable Business Climate and Community 0 28% of U.S. Population Attitudes 0 61% of Canadian Population 0 High Quality of Life 0 $228 Billion of Canadian Effective Buying Income 0 Educational Systems 0 $1 00 Billion of Canandian Retail Sales .. 0 32% of U.S. Manufacturing Firms 0 29% of U.S. Factory Employees 0 31% of U.S. Value Added by Manufacture Connecticut Market Data 1990-91 3 Within a 500 Mile Radius ... NEW YORK BOSTON PHILADELPHIA WASHINGTON, D.C. BALTIMORE RICHMOND NORFOLK RALEIGH DOVER PROVIDENCE PITTSBURGH CLEVELAND TORONTO OTTAWA MONTREAL QUEBEC CITY BUFFALO ROCHESTER NEWARK TRENTON ATLANTIC CITY ALBANY SCHENECTADY TROY WORCESTER LOWELL LAWRENCE PORTSMOUTH PORTL\ D ALIGUS'I~\ n c~oR 4 Connecticut Market Data 1990-9 CONSUMER MARKET: EFFECTIVE BUYING INCOME RETAIL SALES 1987 CONNECTICUT STRATEGIC MARKET LOCATION 500 MILE RADIUS EFFECTIVE RETAIL FOOD BUYING INCOME SALES SALES CONNECTICUT $54769 $27462 $5075 MASSACHUSETTS 91678 49038 9308 RHODE ISLAND 12928 7086 1399 VERMONT 6467 4463 918 NEW HAMPSHIRE 16102 10528 2174 MAINE 13912 9306 1877 NEW YORK 247433 119201 26286 PENNSYLVANIA 146714 78656 17108 DELAWARE 8365 5076 928 MARYLAND 67712 33855 6276 DISTRICT OF COLUMBIA 9177 3660 635 PORTIONS OF OTHER STATES WITHIN A 500-MILE RADIUS: OHIO 61632 35529 6773 VIRGINIA 75737 40624 7853 WEST VIRGINIA 12237 7506 1644 NORTH CAROLINA 9751 5834 1365 TOTAL 963420 469976 102513 PERCENT OF U.S. 31.4 30.3 30.4 U.S. TOTAL 3064006 1637751 337011 SOURCE: SALES AND MARKETING MANAGEMENT, "SURVEY OF BUYING POWER" JULY 1987 Connecticut Market Data 1990-9! 5 INDUSTRIAL MARKET1987: CONNECTICUT'S STRATEGIC MARKET LOCATION 500 MILE RADIUS TOTAL NUMBER OF MANUFACTURING VALUE ADDED MANUFACTURING EMPLOYMENT BY MANUFACTURE FIRMS (OOO'S) (000,000'5) CONNECTICUT 6748 371.1 $21413 MASSACHUSETTS 11042 575.7 33945 RHODE ISLAND 2895 112.7 4439 VERMONT 1254 49.7 2209 NEW HAMPSHIRE 2345 118.8 5249 MAINE 2170 197.7 4777 NEW YORK 29708 1199.1 73259 NEW JERSEY 14537 665.0 37867 PENNSYLVANIA 17895 1060.0 52089 DELAWARE 680 72.8 3020 MARYLAND 4283 207.1 12311 DISTRICT OF COLUMBIA 490 16.1 1302 PORTIONS OF OTHER STATES WITHIN A 500-MILE RADIUS: OHIO 9521 578.5 34275 VIRGINIA 5724 397.4 22113 WEST VIRGINIA 1223 64.5 3978 NORTH CAROLINA 1407 107.9 4638 TOTAL 111922 5704.1 316944 PERCENT OF U.S. 30.2
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