Reaching a record 10.5 billion last year, Connecticut’s exports have been notably strong and lead by the state’s thriving aerospace industry. Contributing to more than half of the record-breaking sum, aerospace parts and transportation equipment amounted to $6.5 billion and have helped make Hartford the 30th largest export market in the United States. There have been a number of long-term factors and more recent factors that have contributed to Connecticut’s recently notable success.
“Connecticut’s aerospace supply chain dates to the industry’s start in the 1920s, with companies making parts for airline engines and other components for General Electric Co. and United Technologies Corp. The state has a competitive advantage with an experienced work force that needs little training and advance time to fill aerospace orders. And the industry is benefiting from rising demand as commercial airline manufacturing is expected to rise. ‘Aerospace really is an export story,’ said Dave Emmerling, vice president of strategic sourcing at Pratt & Whitney, the jet engine manufacturing subsidiary of United Technologies.”
Is your aerospace company based in Connecticut and contributing to these new record-break numbers? Has exporting and increased demand for aerospace parts affected your business if its located in other states? Share your answer in the comments.