Recent Report Identifies 13 Types of Economic Development Organizations Serving Eastern Connecticut

OLR Report 2015-R-0153 identifies 13 types of economic development organizations serving 63 eastern Connecticut municipalities. It describes the services these organizations provide and suggests how they can make their services more accessible to businesses. The report also summarizes studies and plans assessing the region’s strengths and weaknesses.

The organizations include the statewide nonprofit Connecticut Economic Resource Center, regional councils of government (RCOGs), and local chambers of commerce. The assistance they provide includes analyzing local and regional economic trends (e.g., RCOGs), marketing and promoting local and regional assets (chambers of commerce), and providing technical and financial assistance to businesses (e.g., Small Business Development Centers).

Studies done in 2005 and 2011 stressed the need to diversify the region’s economy by marketing its assets, strengthening regional cooperation, and stimulating and supporting business startups. The OLR report suggests the region’s organizations can coordinate their actions by creating a group of “broker-agents” to help businesses assess their needs, identify the organizations that can address them, and coordinate the delivery of their services.  

For more information read the full report: https://www.cga.ct.gov/2015/rpt/pdf/2015-R-0153.pdf