Why Greater New Haven


New Haven, the Economic Engine of Connecticut

The Greater New Haven region is home to strong and growing sectors of the economy, specifically healthcare and higher education systems. Yale University is New Haven's largest employer, followed by Yale New Haven Hospital. With many other colleges, universities, and private secondary schools, located in the area, education is a significant driver for the entire region. The multitude of learning institutions further fuels the economy by providing an educated workforce and creating a culture of research and innovation. 

With easy access to the eastern seaboard via major roadways and rail, an active port, and a local airport--the Greater New Haven region has a variety of transportation options to move product. New Haven is located along Interstate 95, which connects into New York City and the tri-state area and farther south and Interstate 91, which heads into Massachusetts and the rest of New England. There are also various railway connections in the Greater New Haven area, including a hub at Union Station in New Haven that is located along the Metro-North, Amtrak, and Shoreline East lines. The port of New Haven is another beacon of activity in our region, with the facilities to handle bulk cargo along with three deep-water berths capable of hosting vessels and barges. With such a variety of transportation options, many companies have found the Greater New Haven region to be the perfect place to do business. 

Yale Art Gallery

Our Major Industries

A Hub For Higher Education

Home to 8 Colleges, Universities, Community Colleges and Trade Schools, New Haven County is known for the world-renown Yale University, two law schools, two medical schools, and the nationally recognized Henry C. Lee Institute of Forensic Science at the University of New Haven. The education sector has become one of the Region's leading economic drivers, producing the 5th most well-educated workforce in the U.S.* This sector's total economic impact is over $2 billion annually. 

Healthcare Innovation

New Haven is home to the Yale New Haven Health system, one of the premier health systems in the country, expanding its footprint in Connecticut and Rhode Island. Yale New Haven Health employs over 12,000 of the Region's workforce, and Yale's scientific research has fed the region's bioscience cluster, which has grown to over 70 companies, focusing in pharmaceutical research, diagnostics, cancer care, therapeutics, healthcare technology, and medical devices. Yale's innovative Science Park, New Haven's oldest lab-incubator complex and Yale's 136-acre bioscience park, as well as the 300 George Street building were converted to office-lab space.

Manufacturing is in Our DNA

The New Haven Region has a rich history of innovation and success in advanced manufacturing, shaped by pioneers like Eli Whitney, Charles Goodyear, and Oliver Winchester. Today, the region continues to lead, representing 10% of Connecticut's total manufacturing output.

Area Manufacturing-1

A Leading Hub for Bioscience & Innovation

New Haven is a top destination for bioscience and life science companies, ranking 4th per capita in bioscience patents, 3rd in venture capital investment, and 3rd in academic research and development expenditures. As the 2nd largest bioscience hub in New England, the city attracts major investments including $635 million in Connecticut's bioscience sector in 2023 and $150 million from Yale University for AI research. A new Quantum partnership is also driving next-generation technology and innovation.

Commercial Space & Real Estate

The latest data from Cushman & Wakefield highlights New Haven’s resilience in the commercial real estate market. With a positive absorption of 122,673 square feet and a vacancy rate of just 11%, the city is outperforming national trends. The lower vacancy rate suggests a healthy demand for commercial space, reflecting a thriving local economy.

For businesses looking to establish or expand operations, New Haven’s stable office market signals a strong environment for investment, innovation, and workforce retention. New Haven stands out as an attractive destination for companies seeking a dynamic and engaged business community.

The Greater New Haven Foreign Trade Zone, Inc #162

The Foreign Trade Zone is a site where foreign and domestic merchandise may enter without the payment of customs duties or government excise taxes. Duty-free treatment is accorded items sold in the U.S. market, thus offsetting customs advantages available to overseas producers who compete with producers located in the United States. 

Benefits to a Foreign Trade Zone user include duty exemption, duty deferral, access to streamlined customs procedures, and exemption from state/local inventory taxes. 

The Zone is conveniently located for arrivals and departures, with easy access to Tweed New Haven Airport and immediate access to overland routes to and from Hartford, New York, and beyond. The Greater New Haven Foreign Trade Zone, Inc. #162 is sponsored by the Greater New Haven Chamber of Commerce under license by the federal Foreign-Trade Zones Board, with the U.S. Secretary of Commerce as Chairperson of the Board. Gateway Terminal operates the Foreign Trade Zone at the Port of New Haven.

With a highly skilled workforce and strong industry-academic collaboration, the region offers the ideal environment for innovation and success.

Interested in Coming to the Region?

Contact our Vice President of Economic Development & Workforce Initiatives, Anne Benowitz, to learn more.

Anne B.

Anne Benowitz

 abenowitz@gnhcc.com

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