MassBenchmarks

Connecticut Knowledge Corridor Growth Business Study
Mark Melnik, Dan Hodge, Lindie Martin, Carrie Bernstein, Carson Goeke, William Proulx

(April 2015)

This business growth study looked at small-and medium-sized businesses (5 to 500 employees) in Hartford and Tolland Counties from the years 2007 to 2012, examining factors such as employment levels, sales and economic conditions to gauge strength of the region and its economic performance and prospects. This study is similar in scope and research approach as a study released by EPPR in April 2013 regarding growth businesses in the Pioneer Valley region of Massachusetts, which includes Hampden, Hampshire, and Franklin counties. The Connecticut study found that employment remained steady in 88 percent of businesses, a time period in which the region saw a 4.7 percent decrease in total establishments and 5.7 percent decrease in total employment. The project also included a detailed survey of over 185 businesses in the region to gauge success factors, obstacles to growth, and business and financing assistance.

The Connecticut Knowledge Corridor Growth Business Study was commissioned by the Pioneer Valley Growth Business Study Group, a coordinated effort of small business, economic development and planning agencies comprised of Common Capital, Inc., Metro Hartford Alliance, Eversource Energy, Hartford Foundation for Public Giving, Capital Workforce Partners, Goodwin College, Capital Region Council of Governments, and Pioneer Valley Planning Commission.