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Old 07-17-2009, 07:40 AM
 
Location: Live in NY State, (sometimes) work in CT
8,774 posts, read 14,042,928 times
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This is good news:

23 cities where recession is slowing - The Elkhart Project- msnbc.com
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Old 07-17-2009, 02:49 PM
 
Location: Groton, CT
181 posts, read 473,614 times
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It's pretty impressive that CT has 2 of only 23 metros that are moderating from this recession.
I think that Southeastern CT's economy has remained fairly stable due in large part to the massive defense spending that has added more than 500 drafting and engineering jobs at General Dynamics-Electric Boat in the past 8 months alone. However, the large scale of involvment that the hospitality and tourism industry plays in the regions economy leads me to believe that the region will have a much longer and more gradual recovery, forced to lag the national recovery as people continue to pinch their pockets and draw back on pleasure spending; that is unless the region makes considerable concessions to encourage large scale development of other sectors of our economy.

Looks like time will tell.
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Old 07-18-2009, 06:37 AM
 
Location: Live in NY State, (sometimes) work in CT
8,774 posts, read 14,042,928 times
Reputation: 3216
Quote:
Originally Posted by GrotonMan View Post
It's pretty impressive that CT has 2 of only 23 metros that are moderating from this recession.
I think that Southeastern CT's economy has remained fairly stable due in large part to the massive defense spending that has added more than 500 drafting and engineering jobs at General Dynamics-Electric Boat in the past 8 months alone. However, the large scale of involvment that the hospitality and tourism industry plays in the regions economy leads me to believe that the region will have a much longer and more gradual recovery, forced to lag the national recovery as people continue to pinch their pockets and draw back on pleasure spending; that is unless the region makes considerable concessions to encourage large scale development of other sectors of our economy.

Looks like time will tell.
I found an article that I posted here about a month ago about another study that said (to my surprise) that New Haven was one of two metro areas at the time with job expansion (the other being Bismarck, ND.....in this post in addition to the 23 metros, Bismarck was the only one that was "not in recession"......even though it makes sense in some odd ways, who'd of ever thought ND would be where the economy is best, LOL? I remember just a couple of years ago reading how it was the state that would have the biggest %age population loss come 2010 census (not counting Katrina effects in LA)).

It is good to see that New London area is doing relatively well, I know part of why Foxwoods and Mohegan Sun were in those areas was to help a bad and declining job base at the time. Though when I went to RPI as an undergrad in the 1980's, quite a few of my classmates ended up in central/eastern CT as GD, Electric Boat, and United Technologies/Pratt and Whitney recruited like crazy from there back then (don't know about now, but I'm sure they still do to some extent). I think it's one reason why RPI put up a "satellite campus" in Hartford (at the time it was so people from those companies could easily get a "tech oriented" MBA, now I believe it is a complete graduate school......)
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