Hartford Business Journal Special Editions

Doing Business in Connecticut 2018

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58 | DOING BUSINESS IN CONNECTICUT | 2018 2018 | DOING BUSINESS IN CONNECTICUT | 58 SPONSOR REPORT MetroHartford Alliance: Evolution as Economic Development Leader Aligns with Region's Growth With change comes opportunity, and the MetroHartford Alliance has experienced not only organizational transformation, but has also evolved as a leader in the Hartford Region. In addition to leadership change -- David Griggs, nationally-known economic development leader who previously worked at the Greater Minneapolis St. Paul (MSP) Regional Economic Development Partnership is now president and CEO -- the Alliance has updated its mission to more accurately reflect its role as the region's premier economic development organization: Driving economic prosperity by leading a collaborative and unified strategic effort to retain and create jobs and to promote the Greater Hartford Region as an exceptional place to build a business, an industry, a career and a future. Most significant about this evolved mission is the Alliance's alignment with the growth taking place in Hartford. The Greater Hartford Region offers a culture of rich business development, diverse companies in various sectors known around the world, tremendous educational institutions and a well-educated workforce. The region also offers a vibrant quality of life and a growing economy for those fortunate enough to call Hartford home. "We have all the assets in place to make Greater Hartford one of the most economically-viable markets in the country," says Griggs. "Economic development is a team sport and I look forward to telling our story not only locally, but with partners on a national and global level to ensure long-term economic growth for generations." The following Alliance initiatives demonstrate a collaborative effort to ensure a robust local economy in several sectors. CONNECTICUT HEALTH COUNCIL – PROMOTING THE STATE AS A CENTER OF HEALTH EXCELLENCE Founded in 2012, the Connecticut Health Council's mission is to convene leaders from healthcare markets to promote the state as a center of health excellence. The Council supports the development of businesses, initiatives, and technology that enhance health and wellness nationally, thereby driving economic and employment growth in Connecticut. Health and accessibility to world-class healthcare is one of the state's biggest assets and a key reason to do business here. Connecticut's citizens rank third in the nation in health (Doing Business in CT, 2017), which speaks to the access of quality care in the state. Additionally: • In January 2018, Connecticut employed more than 270,800 healthcare and social assistance professionals (Connecticut Department of Labor, March 2018). • Connecticut's hospital health systems' economic impact resulted in a payroll of $7.6 billion, 207,000 jobs, and $10.6 billion in spending with a total economic impact of $27.7 billion. (CT Hospital Health Systems: Bedrock of the Community, 2018 Economic Impact Report, Connecticut Hospital Association). • More than 35,000 bioscience employees work in over 2,000 Connecticut companies (2017 Connecticut Economic Review). • One new job in the insurance industry adds 1.92 jobs to the Connecticut Economy through induced and indirect effects (Connecticut Economic Resource Center). With Hartford anchoring the state as the "Insurance Capital of the World," Connecticut is home to 40 health insurance entities with nearly $5 million in direct written premiums. Connecticut health insurance companies are national and world leaders in the healthcare insurance market and continue innovating operations to benefit customers and their economic growth and contribution to the community. In addition to the strong employment base health care provides in Connecticut, the state houses international research

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