State business leaders discuss economic outlook for 2023

Business leaders in CT are looking ahead to what the economy has in store for 2023.
Published: Jan. 19, 2023 at 10:48 AM EST|Updated: Jan. 19, 2023 at 12:53 PM EST
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HARTFORD, CT (WFSB) - Business leaders in Connecticut looked ahead to what the economy has in store for 2023.

The Connecticut Business and Industry Association held its economic outlook summit in on Thursday.

It discussed inflation, COVID-19 pandemic-related challenges to business, and a labor shortage.

Avelo Airlines’ CFO Hunter Keay and Gov. Ned Lamont were keynote speakers at the event.

Lamont highlighted some of the challenges faced by both the business community and the people they employ.

He laid out his top priorities for moving the state’s economy forward this year.

“We have not built housing in this state for an awful long time and we’re paying a price for that right now,” he said. “I can’t grow the workforce unless there’s a place for the people to live. These are often single people. They’re not looking for two acres and a big house. They’re looking for a place they can get started.”

Lamont also said businesses have been affected by inflation, energy prices, and the war in Ukraine.

He said he wants to improve quality of life for workers in Connecticut and outlined more childcare and workforce re-training programs among his top priorities.

“We’ve got to make this a place where people want to move, where they want to stay and where they want to raise their family, and a lot of that has to do with affordability,” Lamont said. “Come to Connecticut. We’ll provide the training, we’ll provide the housing, we’ll provide the daycare and for the first time in my life I can virtually guarantee you a job.”

Keay also delivered a keynote speech on the company’s growth over the past year. He said Avelo planned to expand terminals at Tweed-New Haven Airport.