Essay about Connecticut

13642 Words Jan 29th, 2013 55 Pages
MICHAEL E. PORTER

The State of Connecticut: Strategy for Economic Development
Introduction

Connecticut had long been one of the most prosperous U.S. states. With a per capita income of $39,300 in 19991 compared with the U.S. average of $28,542,2 it had the highest standard of living of any state. However, Connecticut had been hit especially hard by the recession of the early 1990s, the worst since the 1930s. During the recession, Connecticut lost one out of every 10 jobs.3 Although the recession ended in 1992, the recovery in the early 1990s was anything but robust. High unemployment rates persisted in some urban areas, and the state’s poverty rate almost doubled, from a 1987–1989 average of 4.5% to 8.4% for the 1997–1999 period.4
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Professor Michael E. Porter and Kaia K. Miller prepared this case. HBS cases are developed solely as the basis for class discussion. Cases are not intended to serve as endorsements, sources of primary data, or illustrations of effective or ineffective management. Copyright © 2003, 2005, 2006, 2008, 2009 President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-800-545-7685, write Harvard Business School Publishing, Boston, MA 02163, or go to http://www.hbsp.harvard.edu. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of Harvard Business School.

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The State of Connecticut: Strategy for Economic Development

With 3.4 million residents in 2000, Connecticut was the 29th-largest U.S. state in terms of population5 and the third smallest in geography. Situated on the Atlantic coast between New York and Massachusetts, Connecticut had a gross state product

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