Log In


Reset Password
Archive

Date: Fri 20-Oct-1995

Print

Tweet

Text Size


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.

Comments
Comments are open. Be civil.
0 comments

Leave a Reply