grow400: economy more prosperous
What we could become if we grew our population and economy: one of the nation’s most prosperous regions of New England.
We’ve long been a home for innovators, entrepreneurs, and inventors.
We’ve long been a home for innovators, entrepreneurs, and inventors. Our centuries-old knack for invention has seeded a next-generation innovation economy that is growing fast. Our colleges are expanding, and we’ve upped our game on the talented workforce, job training, and “new economy” work settings. We know we have financial services, insurance, health care, and advanced manufacturing strengths. We must harness these strengths for the good of all, ensuring that we create an inclusive regional economy with a cohesive identity. We must also acknowledge and support the role of small businesses and entrepreneurs in building a strong economy for people of all interests and skill sets. We must grow our population and economy to thrive.
Areas of Focus
How are we making our economy more prosperous?
Projects like the Hartline, and others from Hartford 400 stakeholders, along with these recommendations, will have meaningful impact.
Recommendations
Grow by targeted increased density.
The Town of East Hartford is leading the way by focusing on Silver Lane, served by buses and CTfastrak, to target development in town. Hartford is not too small but too dispersed. The wide dispersion of mills along the river tributaries created population and work centers across the valley. We need to promote higher density concentrations to create livable, walkable, sustainable centers, add population, create jobs, and attract and retain talent. The region has very low density, especially compared to New York and Boston.
Connect downtowns and town centers.
Increase actual and perceived connectivity of downtowns and town centers by having housing and workplaces co-located to reduce travel demand. Continue preparing sites for development through brownfields remediation and infrastructure projects; grow our urban centers to dramatically increase our urban population and density in walkable, vibrant centers near transit.
Leverage strategic location between Boston and New York. Few project ideas provide as much strength to this concept as North Atlantic Rail. The region has not yet fully leveraged the value of its mid-point location between the megaregions’ two major metropolitan centers. The high cost of living and housing in Boston and New York positions Hartford as an attractive mid-size city with urban assets at an affordable price with room to grow. The Valley’s inland position will also be a growing asset as coastal cities contend with rising sea levels and shoreline loss.
Develop Hartford and East Hartford to become Connecticut’s Twin Cities.
Develop Hartford and East Hartford as twin cities that grow together across the Connecticut River. As these centers grow, they can create more connectivity across the river that bypasses the interstate system, ideally through two or three local street bridges. This greater cohesion will capitalize on the attractiveness of waterfront living and share economic benefits between municipalities, which would then amplify across the region.
Attract new residents from outside the region.
Promote the region as an affordable alternative with big city amenities without big city costs, as a place to stay and pursue a career, raise a family, and call home.
Create campaigns that drive local spending.
To support the region’s countless small businesses, a “Buy Local. Play Local.” campaign encouraging residents to visit businesses and attractions contributing to the local economy will create more economic opportunities at home. With that, we should expand internal tourism and promote resident habits of visiting sites and centers around the valley to spur economic activity.
Support small and large businesses.
Draw on Hartford’s long history as a center for business innovation in insurance, manufacturing, aerospace, and medical technology. Support and create programs designed to encourage businesses of all sizes.
Encourage entrepreneurship & innovation.
This could be greatly demonstrated if the interest in Hartford’s Parkville Arts & Innovation District becomes a reality. Continue the Valley and Capital City’s recent resurgence as a center for innovation by encouraging imagination, ingenuity, and invention; build support entities for the entrepreneurial business cycle with safety nets for failure and restarts; and encourage venture capital activity around new and small business startups.
Connect to the region, and to the world.
This could be accomplished through investing in high-speed internet, bolstering the airport with direct routes to national and international destinations, and a new northeast rail corridor with higher or high-speed rail from New York to Boston. All of this is to encourage investment from sources outside the region.
Strategically deploy private and corporate investment.
Invest in the vision -open up opportunities for insurance trusts and leverage corporate investments to benefit the region and the company. Create a campaign to encourage companies and corporations, even those with a national or international footprint, to invest locally.
Leverage the New England Knowledge Corridor.
The Rift Valley is lined with a string of major educational institutions, from New Haven to Northampton. The Knowledge Corridor branding should be elevated to highlight the region’s pipeline of advanced research, innovation, and high-quality talent. We must attract and retain talent from the Corridor.
Train and develop talent locally.
As the economy changes, the region’s educational institutions must be strategic and nimble enough to educate the future workforce for jobs the economy will need, based upon the region’s strengths and workforce prospects.
Invest in New Economy workspaces and jobs.
Expand choices for co-working spaces, training centers, and accelerators. This will make the region attractive to startup companies looking for an affordable option with direct access to the numerous well-connected companies already in the region.
Create jobs.
Create a wide range of jobs, including middle-income employment, that facilitates upward mobility.
Resources
Innovation & Business
Comprehensive Economic Development Strategy (CRCOG 2019), Final Report of the Connecticut Commission on Fiscal Stability and Economic Growth (2018)
Knowledge & Workforce
Comprehensive Economic Development Strategy (CRCOG 2019), Metro Hartford TOD – Connecting People, Places, and Jobs (HFPG 2019), Knowledge Corridor, Knowledge Corridor Rail Workshop (RPA 2016)