Hartford Business Journal

10 Doing Business in Connecticut | 2014 Digital Media & Film TOP REASONS › Connecticut's big name institutions are a big attraction for businesses looking to set up shop or relocate By Christina H. Davis W hen Catherine Smith went on a recent trip with Gov. Dannel Malloy to China, there was one name that was mentioned a lot by the Chinese people she met: Yale. "e name Yale came up more times than you can imagine," Smith recalled. "If they are going to come to the U.S., they want to locate near some of the greatest minds in the world, and Yale certainly has the reputa- tion for that." Of course, Yale is not the only institu- tion in Connecticut with a global reputation. ere are a whole host of academic institu- tions that draw people and companies to the Nutmeg State. Connecticut colleges make regular appearances on the top colleges lists prepared by U.S. World News and Reports, including Yale in New Haven, Wesleyan University in Middletown and the University of Connecticut in Storrs. Beyond the academic world there are large corporate leaders that create their own mini-economies of suppliers and spin-offs. e best example of that is probably Hart- ford-based United Technologies Corp. and its portfolio of subsidiaries including engine- maker Pratt & Whitney in East Hartford and helicopter maker Sikorsky Corp. in Stratford. Both firms have a well developed network of suppliers that have set up shop throughout the state. Voice of manufacturing One of those suppliers is Eastford-based Whitcra, which supplies to many compa- nies in the aerospace sector, including Pratt & Whitney and Sikorsky. While we may live in a flat world where companies increasingly work globally, Whitcra's CEO Colin Cooper said there are still some important advantages to being located within an hour's drive of some of his most important customers. at's because manufacturers like Pratt are outsourcing a large portion of their parts manufacturing, which means suppliers like Whitcra have to be heavily involved in the design process. "You really need the voice of manu- facturing in that design and development process," Cooper said. "Almost on a weekly basis we have Pratt and UTC engineers in our facilities talking to our folks." "ere really is a time as well as cost benefit to being located with them in Con- necticut," he added. "We at the state recognize that those anchors are probably one of the most impor- tant parts of the economy," Smith said. "ey really drive downstream activity." at importance was underscored re- cently when the state announced a $400 mil- lion tax relief package to keep UTC and its subsidiaries in the state. In exchange, UTC will invest $500 million in the state, includ- ›Anchors in Connecticut Reasons TOP to do business Why do business in the Nutmeg State? Well, there are plenty of reasons — we pinpoint the top six here. Read on to learn more. PHOTO/LYNN MIKA Continued on page 12 >

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