Hartford is home to the headquarters of major insurance companies and is known as the "Insurance capital of the world." However, some of the insurance companies have moved out or moved a portion of their operations to cities located in the Hartford region and other locations. Finance is also a major component of the economy. The government is a significant economic factor due to the state capital building, the legislature and the supreme court being situated in Hartford.
Hartford is home to facilities of many high-tech manufacturing companies, including numerous Fortune 500 corporations and multi-national organizations. Numerous goods are manufactured in Hartford including computers, precision instruments, biomedical devices and electrical equipment. Hartford is also a prominent telecommunications and data processing center. In addition, Aerospace and information technology are notable elements of the economy.
The list shown below includes the major employment sectors in Hartford:
- Trade, transportation and utilities
- Education and health services
- Professional and business services
- Leisure and hospitality
The Metro Hartford Alliance's goal is to bring a diversity of talent to Hartford, especially talented young professionals and college graduates. Another organization, the Hartford Young Professionals and Entrepreneurs assist young professionals to become engaged in community life and provide professional and social opportunities. They also offer career development programs. The objective of the organization is to position the Hartford region as a quality area for entrepreneurs and young professionals to reside.
The Senior Human Resource Task Force is comprised of representatives of numerous regional corporations. The primary goal of the task force is to recruit, attract and retain professionals. Also, the Corporate Intern Committee meets each year to discuss issues related to summer intern programs. In addition, the Internhere.com website connects local college students with internship opportunities located in the Hartford region.
Shown below is a list of the largest employers in the Hartford region:
- State of Connecticut
- United Technologies Corp
- The Hartford Financial Services Group
- Aetna Inc
- The Travelers Cos Inc
- Hartford Hospital
- Bank of America
- John Dempsey Hospital
- Northeast Utilities
- University of Connecticut
- Saint Francis Hospital and Medical Center
- CIGNA Corp
- The Hospital of Central Connecticut
- Cianbro Corp
- United Health Group
- Mass Mutual Financial Group
- ING Group
- Eastern CT Health Network
- Met Life Inc
- Kaman Corporation
- Stanley Works
- Lydall Inc
- Hartford Courant
- University of Hartford
- Alstom Power Systems
Notable information about Hartford: The Hartford metropolitan area has been highly ranked regarding per capita for economic activity and labor productivity. In 2008 the cost of living index was near the nation's average. Regarding the population over the age of 25, about 12% have a bachelor's degree or better. In 2007 the estimated median household income was $27,000.
Business organizations providing assistance to Hartford companies include:
- Hartford Economic Development Commission
- Hartford Young Professionals and Entrepreneurs
- Metro Hartford Alliance
The Hartford Business Journal Online offers up-to-date information regarding the business activities in Hartford.