Conn. Gov. Rell’s Push for Job Creation Includes Insurance ‘Cluster’

May 1, 2006

In a new effort to make Connecticut business more competitive and enhance the next generation of manufacturing and technology, Governor M. Jodi Rell announced that the state will invest nearly $900,000 to promote key industry “clusters” overseen by the Department of Economic and Community Development.

The DECD investment will be directed toward the areas of aerospace component manufacturing, insurance and financial services, software/information technology, metals manufacturing and bio-science – business areas that Rell says are “critical to securing the economic future of Connecticut companies and families.”

She said her goals is to boost job creation by making Connecticut a more business friendly and competitive state.

“To compete effectively and grow jobs in Connecticut, we have to play to our strengths, and that is exactly what we are doing. Connecticut’s industry leaders have told us their needs and this money is a direct response to the business priorities they have presented,” Rell said.

The Governor’s Connecticut’s Next Generation Competitiveness Strategy encourages collaboration among business, government and academia and focuses on common or cross-cutting issues that impact economic development.

At Rell’s direction, DECD is investing in the following areas:

The Insurance and Financial Services Cluster will emphasize employee recruitment efforts, produce a public awareness campaign, and recruit additional firms into its organization;

The Aerospace Components Manufacturers Cluster fundingwill encourage new companies to use lean manufacturing techniques and realize production benefits through timely domestic and international business development investment;

The Software and Information Technology Clusterwill develop an Innovation Pipeline Accelerator program to find new technologies being developed in Connecticut and speed their entry into the marketplace. New products will be judged by industry experts and those products judged most likely to succeed in the market will be paired with investors looking for dynamic opportunities;

The Metals Manufacturing Cluster will promote manufacturing careers, develop a market intelligence network, and establish a statewide collaboration to bring innovative resources to the industry; and

The BioScience Cluster will establish a clinical trials network. Connecticut-based universities and hospitals will participate in the program.

“The decision to make these investments is part of a process based on the input of industry leaders who developed business plans that reflect their belief in what is needed for Connecticut’s cluster industries to compete more effectively,” Commissioner James Abromaitis said.

Source: Gov. Rell’s Office

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