Connecticut's Tech Top 40 and First Five Awards: Where's Our Economy Headed?
We recently learned about the 40 “fastest-growing” tech companies in the state. The list includes bio-science, IT, manufacturing, and green technology firms. Matt Nemerson of the Connecticut Technology Council says the list is a kind of guide to a new economy for the state.
"When you watch these companies," Nemerson says, "you are watching the economy changing. And the truth is, in economic development, we often are forced to spend a lot of time trying to preserve companies that were great, and were very important - and that's important, but it's also important to be looking at the future and to make sure that we're competitive."
But at least two of those firms have gotten big incentives from the state’s First Five program, which is now up to nine companies long. Charter Communications is the latest to get a state subsidy, being lured to Stamford from St. Louis, with a $6.5 million tentative loan over 10 years at 2 percent; the first three years of principal payments are deferred. It’s a loan that may be forgiven if Charter meets its job creation goals.
Today, we look at Connecticut’s rapidly-growing businesses - to find out the keys to their success, and the role state government plays in making it happen.