Like a couple of New England states, Connecticut’s working-age population has declined over the last five years, the report says.
“The cost of living remains above the national average and labor is expensive for businesses. Real labor compensation cost for businesses in Rhode Island is $43.68, making it one of the costliest states in terms of labor.
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What’s more is Connecticut’s five-year new firm survival rate is the worst in the study. Of businesses established in March 2014, only 44.3 percent remain in business as of March 2019. To make matters more frustrating, Connecticut ranks the worst in terms of business property taxes out of all 50 states.”