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n e w h a v e n b i z . c o m | M a r c h 2 0 2 0 | n e w h a v e n B I Z 7 Continued on page 47 ' We'r e n o t g o i n g t o h a v e B o s t o n . B u t t h e v a l u e p r o p o s i t i o n i s , c a n w e d e l i v e r 8 0 p e r c e n t o f w h a t B o s t o n c a n d e l i v e r a t 5 0 p e r c e n t o f t h e c o s t ? T o m e , t h a t 's c o m p e l l i n g . ' growth and job growth, with jobs and population being closely linked. e other thing we need to focus on in Connecticut is making sure growth is inclusive, because we have significant income dispari- ty in the state. When you meet with business peo- ple, what's your elevator pitch about how things will be different now that there's a new sheriff in town? My elevator pitch is that we're focused on improving the business environment [through] policies and initiatives that we think can grow the economy and grow jobs in the state of Connecticut. Lamont is the first businessman in 30 years to run the state. We also want to proactive- ly market ourselves as a great state to do business in, and address some of the issues that we have to make it more welcoming to businesses. On the other end of the conversation you've heard plenty of negativity and skepticism from business owners. I visited over 100 businesses; we've done 10 roundtables with in- dustry groups over the past year. In all those meetings, what I've heard, mainly, is four things: One, the fiscal situation of the state and the lack of tax certainty has been a big prob- lem. You can't encourage [private] investment if you don't have that. Tax 'certainty' on the side of those who pay taxes, or those who spend them? Both. Whether it's property tax, sales tax, individual income tax — the kind of grasp for revenue and inability to live within our means has been a big issue. e example I always give is that the state has raised income taxes three times in the past ten years. The 'temporary' income tax of 1991. at sends a real signal to individuals and businesses that are thinking of coming here, and they see the debt per capita and that we're constantly looking for more revenue. We need to demonstrate that we can live within our means. at means spending within our means, and paying our bills as it re- lates to the [state employee] pension [obligations]. The business community has heard this song before. We need to prove it. Ultimate- ly the perception of Connecticut is going to change. Just look at Massachusetts: 25 years ago it was 'Taxachusetts.' Now, Connecticut and Massachusetts have basically switched roles. ere's a real play- book [in Massachusetts]. ey've done smart investing in their phys- ical infrastructure. ey've focused on place, the density of their cities, the innovation ecosystem with all the higher ed they have. We need to run that playbook. Gov. Lamont talks about our 'crum- bling infrastructure,' but most peo- ple drive to work every day without anything crumbling on them. As a result many see that argument — to 'fix' something that isn't really bro- ken — as a pretext for imposing tolls — a new tax. What's 'crumbling'? It's hard to generalize here. ere are certain bridges and tunnels in the state that have deferred mainte- nance and repair. With rail, it takes longer now than it did 100 years ago to get from [New Haven's] Union Station to Grand Central. e New Haven Line is the busiest commuter line in the country — that's such an asset of the state of Connecticut. If commuters could get from New Haven to Grand Central in an hour… ink about what a value prop- osition that would be — it would make the Northeast look more and more like one big city. at would be transformational. One of the keystones to the admin- istration's new economic-develop- ment plan is targeting key industries — financial services, life sciences and renewable energy — for growth. e big thing you're going to see in this plan is a greater focus on places than on specific industries — places like New Haven. Life science and bioscience are clearly one of the strengths of [greater New Haven]; all the IP and all the patents that come out of here, and the idea-generation — how do we commercialize that and make sure it stays here? So there will be a major focus on building a bigger innovation network. ere will be a big physical [component] of that as well. e question is: How do we really designate New Haven as an innovation hub for life science — and build the physical infra- structure as well as the ability to commercialize that? What's the answer? It starts with real estate. Creating a physical location is a big part of succeeding. We need to have in Connecticut to attract business and to encourage [graduates] from Yale or UConn or Southern to stay in this area. We want to make sure we've got the right ecosystem, the right office space, that's there's access to capital, to turn their ideas into successful companies. We need to build up the density of the ecosystem. You talk about wanting to grow the state's cities. Why — and how? ere's been a de facto segre- gation in Connecticut for gen- erations. Our cities have higher unemployment, lower incomes and much higher poverty than the state [average]. From a public-pol- icy perspective that's something we need to address. We want the people in the cities to succeed, and we can create higher incomes and better-paying jobs for those people. at's going to help from a housing perspective, too. So as we get better jobs in our cities and raise incomes, rents will rise, too. In successful

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