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Doing Business in Connecticut 2018

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8 | DOING BUSINESS IN CONNECTICUT | 2018 2018 | DOING BUSINESS IN CONNECTICUT | 8 INNOVATION & GROWTH DRIVEN BY TECHNOLOGY ECONOMIC DRIVERS Forging Ahead In Connecticut, innovation and growth are driven by technology, collaboration By Steve Lubetkin Connecticut's strong roots in universities, biosciences, and the insurance and technology sectors are providing a solid foundation for the expansion of new businesses and innovative collaborations in these sectors. And the state is continuing to make strategic investments to help ensure that this growth continues. Underscoring the state's efforts to promote technology and life sciences, for example, Gov. Dannel P. Malloy announced in early April that genomics testing firm Sema4 was bringing more than 400 jobs to Connecticut over the next five years, and will relocate a laboratory from New York City to Stamford. The company has existing locations in Stamford and Branford. As an incentive for the move, the state Department of Economic and Community Development (DECD) is providing a $6-million loan so the firm can buy equipment and make capital improvements to its facilities. "We rely upon the traditional long history of innovation here as part of our sales pitch to companies from outside of the state," said Catherine Smith, commissioner of DECD. "We partner quite a bit in this arena with Connecticut Innovations (CI) and CTNext, which is a subsidiary of Connecticut Innovations, because their entire business model is about promoting entrepreneurial activity in the state." Connecticut Innovations makes equity investments in small and start-up type companies, she said. "We really try to make sure on all levels that we're helping them get ahead." Glendowlyn Thames, CI's executive director, said her organization provides "a framework for government, industry, business leaders, higher education and other innovation and entrepreneur stakeholders to really work in concert. We really are a catalyst in fueling the ecosystem, which we know is the linchpin of our economic growth strategy for our state." Under the CI umbrella, CTNext aims to foster innovation and build a more robust and collaborative entrepreneurial environment in Connecticut, said Ali Berman, CTNext program manager. Glendowlyn Thames, executive director of Connecticut Innovations

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