Hartford Business Journal

8 HARTFORDBUSINESS.COM | SEPTEMBER 21, 2026 Politics & Policy Gov. Ned Lamont discusses his record and campaign for a third term during an interview at Hartford Business Journal's offices. HBJ Photo | Steve Laschever Decision 2026 Lamont touts fiscal record in bid for third term as affordability concerns persist turing. The program has earmarked $20 million for an artificial intelligence and workforce development center in down- town Hartford, and $50.5 million for infrastructure and facilities supporting life sciences and quantum technology in New Haven. Lamont has pledged an additional $121 million in state funding to advance Connecticut's quantum technology industry. His administration also created the $25 million Strategic Supply Chain Initiative, which provides matching grants to companies that expand production capacity, adopt new technology or establish Connecticut operations supporting the state's core industries. The administration has also awarded more than $99 million through the CT Communities Challenge Grant program for redevelopment projects expected to produce more than 2,000 housing units, as well as new commercial and public spaces. Despite those investments, one longstanding obstacle to Connecticut's business competitiveness remains unresolved: high energy costs. Lamont said he backs renewable energy but described his approach as "all of the above," supporting a mix of energy sources to improve reliability and control costs. His administration supported the continued operation of the Millstone nuclear power plant and is talking with Canadian pipeline operator Enbridge about potentially expanding natural gas capacity into New England — a move that could draw opposition from environmentalists. While Lamont describes himself as progressive, his governing philos- ophy on certain issues has put him at odds with the more liberal wing of the Democratic Party. Those tensions prompted state Rep. Josh Elliott of Hamden to mount an unsuccessful primary challenge against him. "I'll look at anything that saves the ratepayers money, but I'm not going to make false promises," Lamont said. He also opposes hyperscale data centers — massive facilities that house computer servers and use enormous amounts of electricity — saying he would consider such projects only if developers also bring additional power generation to the grid. Healthcare is another issue Lamont identifies as a major third-term priority. His proposed Connecticut Option, now being studied, would create a larger purchasing pool that could include state employees and retirees, as well as employees of nonprofits and small businesses. Lamont said the combined group would have greater leverage to negotiate rates with hospi- tals and insurers. An expanded UConn Health system, which acquired Waterbury Hospital earlier this year and is negotiating to acquire Bristol and Day Kimball hospi- tals, could serve as an anchor for the plan, Lamont said. He also is campaigning on a proposal to require certain large corporations to contribute toward the state's Medicaid costs when their employees rely on the public insurance program rather than employer-provided coverage. By David Krechevsky davidk@hartfordbusiness.com N ed Lamont hopes Connecticut voters will give him something they haven't given a governor in nearly a quarter-century: a third term. Lamont, who was first elected in 2018 and reelected in 2022, would be the first Connecticut governor to win a third term since Republican John G. Rowland in 2002. If he completes another four years in office, the 72-year-old Democrat could become the state's longest-serving governor since Jonathan Trumbull, who served during the Revolutionary War. Lamont's argument for another term is straightforward. In his view, Connecticut is in a much stronger position than when he took office, and he wants four more years to build on that progress. "We came in eight years ago, in many ways the state was almost insolvent back then," Lamont said, citing recur- ring deficits, unfunded pension obliga- tions and sluggish economic growth. During a wide-ranging, 50-minute interview at Hartford Business Journal's offices, Lamont described his first two terms as partly playing "a little defense," initially against the state's fiscal prob- lems and later the COVID-19 pandemic. Now, he said, Connecticut's improved finances provide greater capacity to invest in early childhood education, healthcare, infrastructure and other priorities. He points to eight consec- utive balanced budgets, billions of dollars directed toward pension liabili- ties and a rainy day fund of about $4.5 billion as evidence the state is better prepared for an economic downturn. "Having a $4.5 billion rainy day fund doesn't make you bulletproof," Lamont conceded. "But it puts you in a very different position." That fiscal record has been central to Lamont's campaign against his Repub- lican challenger, state Sen. Ryan Fazio of Greenwich, who argues that despite Connecticut's improved finances, residents and businesses continue to struggle with high taxes and rising elec- tricity, healthcare and housing costs. No 'false promises' Affordability remains a central issue in the campaign. Lamont cited the middle-class income tax cut enacted during his second term, expanded property tax credits — particularly for seniors and veterans — debt-free community college and no-cost early childhood education as policies intended to reduce household expenses. But unlike Fazio, who has proposed between $2 billion and $2.5 billion in income tax cuts, Lamont is not prom- ising another sweeping reduction. "If you're a candidate, you can promise anything you want. I've got to be a little careful," Lamont said. "I've got a budget that has been in balance eight years in a row. Nobody else can ever say that, and I've done that by not overpromising." He also continues to resist calls from some Democrats to raise income taxes on Connecticut's wealthiest residents, saying the state's fiscal condition doesn't require it. Lamont says his economic develop- ment philosophy has been informed in part by his business background. Before entering politics full time, he founded a telecommunications company that provided cable tele- vision and other digital services to college campuses. As governor, he has moved away from large incentive packages for individual corporations and instead focused on industry supply chains and broader investments intended to make Connecticut more competitive. That shift, however, has not meant shying away from high-priced economic development initiatives. His administration launched the $100 million Connecticut Innovation Clusters Program, which uses public and private investment to promote growth in biotechnology, financial and insurance technology, and advanced manufac- NED LAMONT Governor State of Connecticut Education: Bachelor's degree in sociology, Harvard College; MBA, Yale School of Management. Age: 72

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