Stanley Black & Decker, Inc.

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Very Bearish -82

Editorial: Stanley Black & Decker factory closure another signal of CT's poor business climate

AI-generated analysis

🏭 Stanley Black & Decker announced it is closing its New Britain, Connecticut factory on Myrtle Street.

📉 The closure will result in approximately 300 layoffs for local employees.

⛔ This decision adds to a growing list of major companies leaving the state, including GE and United Technologies.

🏭 Historical industries like brass and hats have disappeared, though defense manufacturing remains active.

💰 Former New Britain Mayor Erin Stewart criticized Connecticut's high cost of living and energy costs as key drivers for business departures.

📊 CNBC's "America's Top States for Business" graded Connecticut a D-plus in economy, business costs, and cost of living.

⚠️ The 2025 survey by the Connecticut Business & Industry Association cited workforce shortages and regulatory burdens as top obstacles.

👔 The editorial criticizes Democrat-controlled legislators for passing harmful measures like allowing striking workers to collect unemployment.

💼 Corporate leaders express concern over an "extreme left wing" corporate-responsibility agenda that they cannot afford.

🗳️ State lawmakers are urged to improve the business environment and block business-unfriendly legislation during upcoming elections.

🔮 The piece suggests a new state legislature could help Connecticut's health and wealth recover next year.

Bullish Signals
  • Stanley Black & Decker remains an active tool manufacturer for the consumer market with operations historically located in New Britain, Conn.
Risk Factors
  • Stanley Black & Decker has announced the closure of its factory in New Britain, resulting in approximately 300 job losses.
  • National surveys consistently place Connecticut near the bottom for business environment, with CNBC awarding D-plus grades for economy, cost of doing business, and cost of living.
  • State leaders have failed to address pressing growth obstacles identified by the Connecticut Business & Industry Association, including ongoing workforce shortages, high cost of living, rising business costs, and regulatory burdens.
  • Democrat-controlled legislature is pursuing measures such as allowing striking workers to collect unemployment compensation and a corporate-responsibility agenda that corporate leaders claim they cannot afford.
  • The state continues to face an exodus of major manufacturers, with a long list including General Electric, Aetna, United Technologies, Raytheon, and LEGO having already left the area.
Full Analysis
Stanley Black & Decker has announced the closure of its New Britain, Connecticut factory on Myrtle Street, resulting in approximately 300 layoffs. This move follows a series of similar departures by major corporations from the state, including Winchester Repeating Arms Co., General Electric, Aetna, Edible Arrangements, United Technologies, Raytheon, Stag Arms, Alexion Pharmaceuticals, and LEGO, as noted by Yankee Institute's Andrew Fowler. While Connecticut retains some advanced manufacturing sectors like submarines, helicopters, and jet engines, the editor argues that the state is increasingly known for industries no longer produced locally, raising concerns about its business climate. The editorial highlights national surveys placing Connecticut near the bottom in terms of business environment, citing CNBC's "America's Top States for Business" D-plus grades for its economy, cost of doing business, and cost of living. A 2025 survey by the Connecticut Business & Industry Association identified workforce shortages, high cost of living, rising operational costs, and regulatory burdens as primary obstacles to growth. Erin Stewart, former New Britain mayor and Republican gubernatorial candidate, criticized the state's high energy and living costs alongside what she described as hostility from the state Capitol, suggesting that only so many enterprises can endure these conditions before exiting. Political leadership is heavily scrutinized in this context, with the editorial criticizing the Democrat-controlled legislature for passing measures deemed harmful to businesses, such as allowing striking workers to collect unemployment compensation and advancing a corporate-responsibility agenda viewed by business leaders as unaffordable. The piece concludes by urging voters to ask legislative and gubernatorial candidates during the upcoming fall election how they will improve the business environment in Connecticut and which unfriendly measures they will block, arguing that these actions are essential for maintaining existing jobs and revitalizing the state's economy.