Regional Economic Issues
Regional Economic Issues
Identified by NWCTEDC Directors and by
participants in the first Scenario Planning Session
on Friday, March 28, 2008

Economic Issues
1
Young residents are leaving the Region.  Is this unique to NW?  The State? Where are they going?
2
“Undocumented” residents/citizens.  How do we get “accurate” data to determine the impact on the Region?
3
Public transportation – regional and statewide.  Future?  Positive, negative or both?
4
Energy costs and trends
5
Matching employer needs with qualified employees
6
Loss of “job benefits” in the Region. Vs. State/US?
7
Relocation of national/international companies to Region/CT.
8
Planning/execution capacity of Region.  Historically by individual town.
9
Capacity of NW Region to influence its own destiny vs. State influence.
10
Determining the “center/focus” of efforts.(who and where?)
11
Defining roles each of the towns play in the Region – in every way
12
Identification of “top 10 things” potential/future employers want.
13
Role of the arts in the Region.
14
Role of tourism in the Region.
15
 Converting old structures to appealing places to work.
16
Affordable work force housing. (State definition = no more than 30% of income).
17
Cost of land
18
Land use zoning regulations.
19
CT tax structure.  Impact.  Does this affect Region more than rest of State?
20
Education in the Region reflecting the needs of the Region?
21
Transportation infrastructure.  Does it support the current/future needs of Region?
22
State policy re: incentives for new businesses.  Only for manufacturing.  E.g., does NOT encourage entrepreneurs.
23
Internal and external perception of the Region.  Perceived as “wealthy”, “in the middle of nowhere”, individual towns want to “keep their town a secret”
24
Changing values re: sustainability
25
Aging population
26
Young residents leaving the region and the state
27
Loss of manufacturing jobs
28
Brownfield issues
29
Limited industrial sites
30
High cost of energy
31
Energy availability
32
Rising health costs
33
High cost of housing
34
Workforce development and educational training
35
Need for technically trained workers
36
Longer commuting distances for local residents
37
Distance from other areas of the state
38
High cost of doing business
39
Unpredictable and unfavorable tax structure
40
Heavy reliance on residential property tax base
41
Economic viability of farms –loss of farmland and open space
42
Economic viability of city centers
43
Effect of new retail stores on existing small businesses
44
Attracting new business to the region – film industry
45
Challenges in tourism – casinos, high gas prices
46
Internet & cell phone access and availability
47
Emergency services volunteers
48
Technology as an economic driver
49
Consumer demand
50
Effect of emerging markets (energy usage, competition)
51
Jobs of the future?
52
Weather factors
53
National issues
54
Increased government regulation
55
Limitations and/or aging infrastructure
56
Business support organizations
57
Importing most of our food
58
Regional branding
59
Sprawl
60
Political change
61
Infrastructure – adequate now? future?
62
How do we bring young people back to the area?  Who do we want to attract to this area?
63
The future of healthcare
64
Possibility of economic and racial separation
65
Local educational access from elementary to college/higher ed. (including English language ed. For immigrants)
66
Environmental regs. and concerns
67
Quality of life (culture, art, restaurants)
68
Childcare issues (costs and availability)
69
The future of community involvement
70
Obesity
71
Political developments in foreign companies
72
Availability of investment capital
73
Attracting companies to spark economic growth
74
How do we ensure that we coordinate our efforts to get the area’s fair share of resources
75
Economic incentive for new or existing businesses
76
Attitudes of community about development
77
Availability of land
78
Loss of State and Federal representation due to shrinking population
79
Inadequate labor pool (e.g., aging of tradespersons and disinterest of emerging workforce)
80
Work ethic of new workers
81
Coordinated regional effort for economic development, not economic discouragement (Regional Econ. Development Czar)
82
 Aging workers not retiring (failure to create openings for younger workers)
83
Is a coordinated effort or what type of coordinated effort is best for the region?
84
Potential competitive advantage of the region to attract the emerging green economy