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The think-tank affiliated with the Connecticut Business and Industry Association released a document Thursday it’s calling a “long-term roadmap for boosting the state’s competitiveness.”

The state’s business climate today is at a crossroads, the report states, with the national economy undergoing big changes, a state workforce that’s aging and dependent on foreign immigration for growth and affordability a serious and “critical” factor for both businesses and workers to come to or stay in Connecticut.

In addition, with 169 cities and town, many permitting decisions are “sluggish,” the report states, while a severe shortage of skilled workers in many sectors is holding back existing Connecticut firms.

“Connecticut’s economic opportunities are limitless,” CBIA President and CEO Chris DiPentima said in a statement. “Our goal with the foundation and this plan is to chart a course for sustained economic growth – growth that drives not only predictability, but greater opportunity for all residents.”

The report, written in collaboration with national consulting firm Economic Leadership LLC was based on “extensive research and analysis of more than 25 reports and studies conducted since 2018” and “over 30” forums across the state gathering input from employers, nonprofit organizations, education institutions, community leaders and government officials.

“These partnerships and collaborations were critical to shaping this plan – ensuring that everyone not only had a seat at the table, but has a stake in its success in the years to come.” DiPentima said.

The CBIA report gives Connecticut high marks for education, middling marks for quality of life, and low marks for access to capital, infrastructure, cost of living, business friendliness and innovation. The report also gives near-failing grades for the quality of the state’s workforce, the cost of doing business and the overall state of its economy.

“Connecticut can set the example for the nation by growing our economy, strengthening our workforce, and improving our quality of life,” Dalio Education co-CEO Andrew Ferguson said in a statement.“But to do so, everyone must work together to provide leadership and sustained momentum. We must confront realities that are holding Connecticut back and leaving far too many behind. For example, tens of thousands of young adults have diplomas but lack employment at a time when our labor market has more than 93,000 unfilled jobs.”

To regain its competitive edge, the state should lean on its existing strengths as a longtime defence industry hub, one of a small number of logistics hubs for the entire Northeast and its relatively low exposure to climate change risks that plague Sun Belt states like Florida.

“The Electric Boat team has been active with the CBIA Foundation since its inception,” General Dynamics Electric Boat VP of human resources Shawn Coyne said in a statement. “What we heard, in every forum, meeting and discussion was frustration with the state business climate. While there have been areas of progress, there is much more we all need to do to ease the challenges of operating a business in the state.”

The CBIA report lists six pillars that, it argues, state and local leaders should focus on, that it breaks down into more specific reforms:

• Streamlining regulations and permitting processes, including eliminate redundant or out-of-date policies and procedures
• Enhancing coordination among state agencies
• Improving workforce development and education alignment by “reimagining” state public school graduation standards, among other steps
• Addressing housing affordability and availability, including by encouraging rezonings around transit hubs and employment centers
• Tackling childcare challenges
• Enhancing transportation and energy infrastructure