Connecticut offers a comprehensive suite of resources to assist businesses in expanding their international trade operations. These initiatives aim to bolster the state’s economy by facilitating exports, attracting foreign investment, and supporting businesses in navigating the complexities of global markets.
Connecticut’s International Trade Landscape
In 2024, Connecticut exported $17.4 billion in goods, marking a 9% increase from 2014. These exports accounted for 5.0% of the state’s Gross Domestic Product (GDP). Manufactured products led the export categories, with transportation equipment at $6.2 billion, followed by machinery ($3.3 billion) and computer & electronic products ($1.3 billion). Notably, 87% of the 5,237 companies exporting from Connecticut in 2023 were small and medium-sized enterprises (SMEs), underscoring the state’s commitment to supporting its diverse business community. (ustr.gov)
State Programs and Resources
Department of Economic and Community Development (DECD)
The DECD plays a pivotal role in enhancing Connecticut’s competitive position in the global economy. Through the State Trade Expansion Program (STEP), the DECD provides grants to small businesses to increase the value and volume of their exports. Eligible activities include trade show participation, trade missions, marketing, and export training.
Contact Information:
- Address: 450 Columbus Blvd, Suite 5, Hartford, CT 06103
- Phone: 860-500-2368 (Laura Jaworski), 860-500-2446 (Kerron Vernon)
- Email: laura.jaworski@ct.gov, kerron.vernon@ct.gov
- Address: 213 Court St, Suite 903, Middletown, CT 06457
- Phone: 860-638-6955 (Melissa Grosso)
- Email: melissa.grosso@trade.gov
- Website: CTSBDC International Trade Services
- Email: DOL.TAAUnit@ct.gov
- Section 32-505: Authorizes the Commissioner of Economic and Community Development to retain international trade representatives to assist Connecticut businesses in finding export customers and attracting foreign investment. (codes.findlaw.com)
- Section 32-506: Establishes programs for trade shows and trade consortiums to promote Connecticut products and services abroad.
- Section 32-510: Details programs aimed at attracting foreign investment into the state.
- Connecticut governor returns from trade mission to India with a broken arm, Published on Tuesday, March 04
U.S. Commercial Service – Middletown Office
The U.S. Commercial Service offers low-cost assistance to companies aiming to increase their exports. Services include free counseling, international business development, market research, and partner identification.
Contact Information:
Connecticut Small Business Development Center (CTSBDC)
The CTSBDC provides certified export assistance through a team of advisors who help clients develop export and international trade opportunities. Their services include understanding international trade basics, determining product exportability, identifying markets and buyers, and developing market entry strategies.
Contact Information:
Connecticut Department of Labor – Trade Adjustment Assistance (TAA)
The TAA program assists workers whose jobs are impacted by foreign trade and offshoring. Services include job training and reemployment support.
Contact Information:
Relevant State Laws and Regulations
Connecticut’s commitment to international trade is enshrined in its statutes. The Connecticut General Statutes Title 32, Chapter 588v, titled “International Trade,” outlines the state’s policies and programs to promote and support international trade activities. Key sections include:
Demographics and Geographic Context
Connecticut’s strategic location in the Northeastern United States, with proximity to major international ports and airports, enhances its appeal for international trade. The state’s diverse population, including a significant number of foreign-born residents, contributes to its global connectivity. For instance, approximately 38,000 Indian-born residents make up 14% of the state’s foreign-born population, reflecting strong international ties. (apnews.com)
Comparison with National Benchmarks
Connecticut’s export performance is notable. In 2024, the state exported $17.4 billion in goods, accounting for 5.0% of its GDP. This export-to-GDP ratio is higher than the national average, indicating a robust engagement in international trade relative to its economic size. (ustr.gov)
Conclusion
Connecticut provides a robust framework of resources and programs to support businesses in international trade. By leveraging these state-specific initiatives, companies can enhance their global presence, access new markets, and contribute to the state’s economic growth.