Conn. Backs Insurance Cluster with $50K for Career Fair, Recruitment Effort

June 19, 2006

Connecticut Governor M. Jodi Rell announced that $50,000 is being released to the Department of Economic and Community Development’s Insurance and Financial Services (IFS) “cluster” to help underwrite a career fair, a resource directory and a new member recruitment effort.

The funding will also help pay for development and distribution of a DVD highlighting the Insurance and Financial Services industry in Connecticut and to be used to solicit out-of-state firms to relocate to Connecticut.

“Insurance and financial services are strong drivers in Connecticut’s economy, employing more than 140,000 people and serving business customers around the world,” Governor Rell said. “As successful as that segment of our economy remains, we will not let up in promoting this industry and our efforts to make our business climate even stronger. We believe financial services job growth will be substantial.

“Over the next five years, the insurance and financial services industry nationally will undergo a period of unprecedented change – continued consolidation, convergence, globalization and outsourcing,” the Governor said. “This funding will help us formulate a long-term game plan to take advantage of our talented work force and the unparalleled quality of life Connecticut has to offer.”

DECD’s Insurance and Financial Services cluster has five goals for this year: developing Connecticut’s IFS work force; enhancing the professional development of that work force; strengthening the IFS cluster by expanding its membership; enhancing the business climate for IFS businesses; and building awareness of the economic importance of Connecticut’s IFS industry.

The $50,000 being released is part of previously approved State Bond Commission funding.

Source: Gov. Rell’s Office

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