The Constitution State finished the year 2000 riding a wave of economic success. The Corporation for Enterprise Development named Connecticut to its honor roll on its annual development report card. The award was due to the Constitution State's average annual pay and competitive business climate.
     The Connecticut legislature intends to maintain the state's appeal to business and industry. Last spring, Gov. John G. Rowland announced the formation of another state industry cluster, aerospace. The state's industry cluster program was initiated to foster economic development in geographic areas where industries are interconnected by the markets they serve and the products they produce.
     The Aerospace Manufacturers Components Cluster is comprised of 16 manufactures and hopes eventually to encompass more companies. Several other industry clusters are currently operational in Connecticut, including BioScience and Software/Information.
     The state-mandated cap on spending may effect several proposed programs. Gov. Rowland anticipates program cuts due to a possible slowdown in tax collections as the state's average income flattens with the shrinking economy.
     Stamford, Conn., in Fairfield County, in the state's southwestern corner, has long been considered a more affordable location than nearby Manhattan. But rental rates within Fairfield County continue to rise with the average hovering above $30 per square foot at the end of last year.
     "We predict continued expansion in eastern Fairfield County as space becomes scarcer and more expensive," says Kenneth M. Krasnow, regional managing director of Cushman & Wakefield of Connecticut. Virgin Atlantic Airways and Marketing Drive Worldwide have announced recent expansions into the area.
     Connecticut even is developing its own Silicon Alley, a corridor from Greenwich in Fairfield County to Meriden, 30 minutes south of Hartford, emerging along the Merritt Parkway. The region hosts dozens of new high-tech and dot-com companies, such as ModemMedia, the fastest growing high-tech firm in the state.