Strategies for financial recovery: the city of New Haven experience.

Government Finance ReviewVol. 15 Nbr. 3, June 1999

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Summary


Competitiveness and efficient management practices were key to the recovery of New Haven, CT's financial sector. As one of the richest cities in the US in terms of cultural, historical and scientific resources, the city has shown signs of improved economy since the financial crisis in the early 1990s. By making its tax policy ideal for companies, the city was able to attract a number of promising business enterprises and residents, which later proved instrumental in enhancing the area's economic competence. Efforts to improve health, welfare, employment and redevelopment also offered huge growth opportunities for New Haven.

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Strategies for financial recovery: the city of New Haven experience.

As usual, this year's annual meeting of the U.S. Conference of Mayors hosted no shortage of proud leaders ready to boast about what their cities were accomplishing. Typical of U.S. cities, New Haven, Connecticut, has known both good times and tough times. Over the last five years, New Haven has made itself much, much better - and its mayor and citizens seek to make it better still.

New Haven is a pre-Revolutionary American city with a rich history. By 1950, more than 164,000 people lived in the city, with an economy largely defined by manufacturing, railways, and Yale University. Largely due to the presence of Yale University, New Haven has been blessed with cultural, scientific, and recreational resources well beyond those offered by most cities of its size. Despite launc...

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