Date: Fri 20-Oct-1995
Date: Fri 20-Oct-1995
Publication: Bee
Author: AMYD
Quick Words:
business-development-forum
Full Text:
Small Businesses Lead The Way To Recovery
B Y A MY D'O RIO
Small business is generating most of the new jobs for Connecticut, said
People's Bank chief economist Todd Martin.
Mr Martin spoke at Newtown's Annual Economic Development Forum and Trade Show
Saturday, October 14.
Mr Martin said since the recession ended in 1992, 86 percent of all the new
jobs in this state have come from the small business sector.
While Connecticut is lagging behind other New England states in recovery, he
argued that there has "actually a lot of growth in the state."
He said small business is growing and is responsible for providing 44 percent
of the jobs in this state.
However, the cutbacks in defense and the layoffs in insurance continue to hurt
the state, he said.
Mr Martin is optimistic about the national economy and expects a rebound
during the second half of the year. Despite mixed economic signals, retail
sales are strong, showing consumer confidence is up, he said.
The trade show featured Mr Martin as the keynote speaker for the event.
Like last year, the trade show selected a local business to highlight: Curtis
Packaging Corporation in Sandy Hook.
Curtis' president and chief executive officer, Donald R. Droppo, accepted a
plaque in recognition of 150 years of outstanding community service.
Curtis Packaging celebrated its 150th anniversary on Thursday, October 12.
First Selectman Robert Cascella spoke Saturday about Newtown being a partner
to business. He noted that the trade show is one of the ways the town is
trying to support local business.
The trade show and forum, sponsored by the Newtown Economic Development
Commission and the Chamber of Commerce, featured around 27 local businesses.
It grew in the number of booths from last year and looked more professional,
said Mike Snyder, the Chamber of Commerce president. However, Mr Snyder said
next year the chamber and commission need to work harder to get more residents
to attend.
"The attendance was, well, fair," he said about Saturday's event.
