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n e w h a v e n b i z . c o m | N o v e m b e r 2 0 2 2 | n e w h a v e n B I Z 11 chamber of commerce for the state. ere's no sense of competition but a good deal of analytic collaboration, so you never have to worry about who's going to get the credit. And that's unusual. What sectors do you see growing in importance for the state? Biotech and fintech but increasingly advanced manufacturing. On the manufacturing front, we're getting some opportunities for some very significant operations of national companies that I've been interested in. at's pretty exciting. With the way things are going on it was a shame that the old Alexion building out in Cheshire got demolished when the company moved to New Haven. Now we have people who would love that facility. [Former AdvanceCT co-chair] Indra Nooyi was amazing in terms of being a magnet and a business generator, whether it was helping to fortify a big presence for national companies or actually relocating some international operations here. She's terrific. So we're all in the shadows of what she accomplished as our predecessor. You have done a lot of work on issues around environmental, social and governance (ESG) investing. Do you think Connecticut's social policies are an asset in attracting business? Reginald H. Jones of General Electric, who was chairman of the Business Roundtable, coined the term "corporate social responsibility" and he really encouraged me to do this work. Back then, only the Yale School of Management was looking at business and society — we've actually held that ground as a mission before any business school. Others now are trying to get into the space — some of them perhaps with a genuine interest, and others it's sometimes a little bit of a public relations smokescreen. You can't really divide our leading business people ideologically on their state development issues — there's a sense of enthusiasm that's bipartisan. Every company here brags about what they do in the community. You know, we always hope it's legitimate and real, but there isn't anybody that brags about how many people they've laid off and how they're consolidating and pulling out. Despite recent gains, negative perceptions about Connecticut seem to be lingering in the national business community. What can groups like AdvanceCT do about that? It's small to mid-sized company CEOs who are filled with all kinds of ideological misinformation, or else a time lag. ere's a lag factor here. When people see these numbers that I've sent them about Connecticut outside of the state, they're shocked. e best way of addressing it, in addition to supplying them with these numbers, is that we have CEOs who can endorse the state like Paul Lemmo of Sikorsky, who is one of the best state salespeople. Look at Electric Boat: ey had the option of putting a few billion dollars into a comparable deepwater port in Newport News, (Virginia), but because of the workforce issues and the climate they chose to put it here. It wasn't that they didn't have options. It gives us decades of commitment for jobs and technology and other things that come along with it. It was also a big eye-opener that we're not only spending in R&D, at a mix of traditional old-line companies and new startups, but we're generating new intellectual property that's being commercialized here in the state. at's pretty exciting. Also important for business people is the very critical eye of the financial community. I'm not sure that there is a state that has gotten an upgrade from every major independent ratings agency including Standard and Poor's, Fitch and Moody's. e good part about that is that it's much cheaper for us to borrow than it was a few years ago. Much of what companies hear is just self- promotional from many states, but this is really substantive. ose upgrades and downgrades are really valuable — that's a great endorsement. n Jeffrey Sonnenfeld led Yale School of Management's Connecticut Economic Development Forum in September. PHOTO | CONTRIBUTED SALES / LEASING • Retail • Office • Industrial • Investments PROPERTY MANAGEMENT • Apartments • Condominiums • Office • Shopping Centers • Industrial Parks • Residential Rentals 1768 Litchfield Turnpike, Woodbridge CT | www.LMMRE.com | (203) 389-5377 Looking for a property manager in Connecticut? Look no further! Levey Miller Maretz, LLC is a leader in property management and commercial brokerage. From commercial and residential properties, to condominium associations, we manage it all! LMM has a proven track record of over 50 years in the commercial real estate and property management industries. 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