Issue link: https://nebusinessmedia.uberflip.com/i/688926
2016 | Doing Business in Connecticut 53 Manufacturing I n years past, due to ongoing trends of offshoring, outsourcing, con- solidation, closures and the ever-evolving nature of contemporary technology — as well as an unsteady and at times erratic economy — predictions for manufacturing in the United States have been dismal at best. But with such tides beginning to reverse, manufacturing in Con- necticut as the 21st century thrums forward appears to be riding far more positive currents. In fact, local leaders and experts anticipate much-awaited growth in the state's industry. "We are really poised for significant expansion," said Bonnie Del Conte, president and CEO of CONNSTEP, a manufacturing consulting organization based in Rocky Hill. "I haven't seen the timing and the opportunities in the past couple of decades as great as they are." Although just the country's third-smallest state, Connecticut boasts a diverse array of manufacturers to greet that expected potential, running the gamut from small, hand-craed artisan brands all the way up to global defense contractors working on multi-year agreements. And no matter their size, state manufacturers share the ability to lever- age the latest technological advancements and tap into — and bolster — the region's skilled talent pool to continue to drive innovation in their given fields. "We all share a common desire to see economic growth in Con- necticut," said Martin Roth, dean of the Barney School of Business at the University of Hartford, which is involved in several initiatives aimed at boosting the state's manufacturing base. High tech fields All told, Connecticut is host to roughly 4,600 manufacturing companies that employ 165,000 workers, according to Del Conte. With average salaries in the low $80,000s, they account for $14 billion in wages and $137 million in corporate business taxes (before credits are applied), or roughly 10.5 percent of the state's total gross domes- tic product. Funneling down from transportation manufacturing — by far the state's largest market sector, led by giants such as Electric Boat and Pratt and Whitney — Connecticut companies also create a myriad of chemical products, fabricated metal products and various products that support its vast transportation market, as well as electrical equipment, computers, food and beverage, and paper goods. Because of its strong transportation manufacturing base, Del Conte said, much of the state's Continued on page 56 > The production line for the TruLaser 1030 line of Farmington-based TRUMPF. PHOTO/TRUMPF