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Connecticut’s public and private sectors are working together to encourage innovation within the state in order to benefit the local economy. One way that Connecticut’s government is encouraging innovation and therefore trying to spur the local economy is by providing new avenues for funding CT companies.
At 15.32 cents per kilowatt hour as of the end of 2016, Connecticut commercial electricity rates are 52% higher than the national average and the highest amongst the contiguous United States. So, it’s no surprise that businesses want to save more from Connecticut energy suppliers.
Connecticut’s minimum wage ticked up again in January to $10.10/hour as the last stage of a three-year increase bringing the minimum rate up from when it was $8.70/hour in 2014.
Connecticut electric rates remain high and have a meaningful negative impact on local businesses, but companies do not have to sit back helplessly.
Connecticut energy suppliers and their customers have more in common than one might think. Rather than being in opposition to each other, they can actually both help each other achieve their goals, primarily through the lens of sustainability.
Connecticut’s job market has struggled to recover from the Great Recession, as the state ended 2016 with a net decline of 2,000 jobs for the year. Overall, CT has only recovered 70% of the jobs it lost during the 2008-2010 downturn.
The three most important factors in real estate may be location, location, location, but there are still other factors that make a difference in enticing prospective renters, as well as potentially getting them to pay a premium. As such, commercial real estate companies should use sustainability as part of their marketing strategy, as more businesses want to be part of the growing eco-friendly movement.
Connecticut’s government has a goal to reduce the state’s greenhouse gas (GHG) emissions by 80% below 2001 levels by 2050. To meet this long-term goal, CT is taking steps now to develop interim reduction targets and strategies along the way.
Commercial real estate companies can use energy analytics to improve their business in a variety of ways, such as to identify smart investment opportunities, increase sustainability performance and improve overall business intelligence.
The manufacturing industry is shedding its past image of hard, bulky manual labor and evolving to become more digital and nimble with the widespread implementation of industrial energy analytics systems and software. This change has brought about a new terminology called smart manufacturing, which California Manufacturing Technology Consulting (CMTC) defines as “the use of real-time data and technology when, where and in the forms that are needed by people and machines.”