51 Connecticut Business Stats & Facts For 2025

Here are 51 business stats about Connecticut for 2025.

Basics:

Population: 3,617,176 (US Census 2020)
Population desnity per square mile: 744.70
GDP: $340,181 (millions USD)
GDP Per Capita: $94,876
Median household income (in 2022 dollars): $90,213
Real GDP Growth Rate: 2.10%
Total Employment: 2.0m
Unemployment Rate: 4.0%

Rankings

% Share of National Economy: 1.24%
State Economic Growth Rank (out of 50): 23
Population Growth Rank (out of 50): 30
Business Growth Rank (out of 50): 50
State Growth Rank in Employment (out of 50): 8

Biggest Industries In Connecticut By Revenue

1. Life Insurance & Annuities: $54.9b
2. Gasoline & Petroleum Bulk Stations: $34.6b
3. Health & Medical Insurance: $34.5b
4. Aircraft, Engine & Parts Manufacturing: $34.1b
5. Reinsurance Carriers: $29.8b
6. Property, Casualty and Direct Insurance: $26.2b
7. Portfolio Management & Investment Advice: $26.1b
8. Public Schools: $24.5b
9. Drug, Cosmetic & Toiletry Wholesaling: $20.2b
10. Colleges & Universities: $18.6b

Biggest Employers In Connecticut

1. Hartford HealthCare: 37,000 (1.9%)
2. Raytheon: 17,000 (0.9%)
3. Amazon.Com: 15,000 (0.8%)
4. Yale New Haven Health: 14,984 (0.8%)
5. Saint Francis Health System: 12,000 (0.6%)
6. Eversource Energy: 9,600 (0.5%)
7. Walmart: 8,423 (0.4%)
8. Lockheed Martin: 8,000 (0.4%)
9. Mohawk Industries: 8,000 (0.4%)
10. University of Connecticut: 7,500 (0.4%)

Small Businesses In Connecticut

Number of Small Businesses 354,013
Percent of bossiness that are small businesses: 99.30%
Number of employees: 730,826
Share of Employment: 47.10%
Number of New Businesses In The Past Year: 16,510
Number of Businesses That Closed In The Past Year: 10,245
Net Change In New Businesses: 6,265

Number of Businesses With No Employees: 286,720
Number of Businesses with 1-19 Employees: 57,424
Number of Businesses with 20-499 Employees: 8,869
Share of Businesses Owned By Women: 41.20%
Share of Businesses Owned By Veterans: 5.10%
Share of Hispanic Owned Businesses: 10.20%
Share of Businesses Owned By Racial Minorities: 13.50%

Fortune 500 Companies In Connecticut

Number of Fortune 500 Headquaters: 14
Biggest Company: Cigna Group
Biggest Company Type: Health Care: Pharmacy and Other Services
Number of Employees: 70,231
Revenue (in millions): $180,516

Taxes In Connecticut

State Corporate Tax Rate: 7.50%
State Corporate Tax Rate Brackets: $0

State Sales Tax Rate: 6.35%
State Sales Tax Rank (out of 50): 12
Average Local Sales Tax Rate: 0.00%
Max Local Sales Tax Rate: 0.00%
Average Combined Sales Tax Rate: 6.35%
Combined Sales Tax Rank (out of 50): 33

Minimum State Income Tax Rate If You’re Single: 2.00%
Minimum State Income Tax Rate If You’re Married: 2.00%

General Connecticut Population Facts

In civilian labor force, total, percent of population age 16 years+: 65.80%
In civilian labor force, female, percent of population age 16 years+: 61.60%
Share of population which is foreign born: 15.00%
Mean travel time to work (minutes), workers age 16 years+: 26.4

Housing

Number of Housing Units: 1,546,032
Owner-occupied housing unit rate: 66.20%
Median value of owner-occupied housing units: $323,700
Median gross rent per month: $1,374
Households with a computer: 94.10%
Households with a broadband Internet subscription: 90.10%

Education

High school graduate or higher, percent of persons age 25 years+: 91.30%
Bachelor’s degree or higher, percent of persons age 25 years+: 41.40%

Also See

• Connecticut Registered Agent Services
• Connecticut Secretary of State Business Search
• How To Form an LLC In Connecticut
• Connecticut Bookkeepers & Bookkeeping Services

Sources

• https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
• https://en.wikipedia.org/wiki/Economy_of_Connecticut
• https://www.ibisworld.com/united-states/economic-profiles/connecticut/
• https://taxfoundation.org/data/all/state/2024-sales-taxes/
• https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
• https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
• https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
• https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-CT.pdf
• https://www.bls.gov/eag/
• https://www.bls.gov/regions/northeast/connecticut.htm#eag
• https://www.census.gov/quickfacts/fact/table/CT,US/PST045223
• https://www.50pros.com/fortune500