CT BUSINESSES
Connecticut’s Housing Crisis Is Driving Businesses Away
2 June 2025
A recent study from the Connecticut Business & Industry Association finds that the state’s severe housing shortage is hampering business growth and recruitment efforts. With housing inventory and affordability drooping below neighboring states, companies are struggling to hire—leaving over 70,000 open positions unfilled.
Tyler Russell / Connecticut Public
FILE: Dan Drazen, VP of Development at Trinity Financial, observes the ongoing work at a former player piano factory in Meriden that is being converted to mixed income housing. July 22, 2024.
Key takeaways:
- Low housing production means Connecticut trails behind surrounding states, making relocation or recruitment challenging.
- Business impact: Some firms have already exited or declined to move to Connecticut due to employees’ inability to afford or find housing.
- Economic ripple effects: The squeeze on talent is increasing operating costs, reducing consumer spending, and stifling overall economic mobility.
- Action needed: The study urges policy reforms such as zoning and parking regulation updates to jumpstart housing development and support workforce growth.
Read full article:
https://www.ctpublic.org/news/2025-06-02/cts-housing-crisis-is-driving-businesses-away-study-finds
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