Connecticut's economy has always been focused on financial services, manufacturing, and military arms back to its colonial roots.
As the “Arsenal of the Nation” and home of Samuel Colt and Eli Whitney, defense contractors and gunsmiths have been important employers in Connecticut.
Financial services like insurance giants The Hartford, Aetna and Cigna also trace their roots back to the first companies that offered insurance for oyster fishermen.
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The current top five employers in Connecticut echo that history.
1. United Technologies Corporation: 25,000
UTC purchased Sikorsky Aircraft, which was established in Connecticut in 1925 by Igor Sikorsky. The company also owns Pratt & Whitney, the commercial and military jet engine manufacturer based in East Hartford, Connecticut. The aerospace industry's total employment count has declined in recent years, from a peak of 32,400 in 2008 to 29,200 in 2014,
according to the Hartford Courant.
2. Yale University: 14,700
The New Haven, Connecticut, university founded in 1701 e
mploys more than 4,100 academic staff in addition to its large support staff. The university also administers a large health system with a 1,541 bed hospital.
3. Stop & Shop Supermarkets: 14,000
The largest supermarket chain in the state, while headquartered in Massachusetts, has a very large presence in Connecticut. The stores feature Starbucks- and Dunkin Donuts-licensed stores in some locations.
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4. General Dynamics Electric Boat: 8,800
The Groton, Connecticut, shipbuilder is the top builder of submarines for the U.S. Navy. The company built and launched the first nuclear-powered submarine in 1954. The company was founded in 1899 to create the new submarines designed by John Philip Holland. The shipyard is currently focusing on the Virginia class attack submarines, which are specially designed to carry and deploy special forces as well as launch Tomahawk cruise missiles,
according to Military.com.
5. The Travelers Companies: 7,400
Travelers insurance is the second-largest commercial property casualty writer and third-largest personal carrier. Despite the company listing its official headquarters as New York City, Travelers was founded in 1864 in Hartford, Connecticut, where the company maintains a significant presence. The company has maintained its Connecticut presence despite series of acquisitions, mergers, and spin-offs with The St. Paul company and Citigroup.
Despite coming in last on this top five list of employers in Connecticut, Travelers represents the very large insurance industry in Connecticut. The state has more insurance professionals per capita than any other state in the country.
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