CROMWELL, Conn. -- This will be a difficult year for most businesses; however, as business leaders, we must focus on the long-term. This was the message UTC President and CEO Louis Chênevert delivered to nearly 500 attendees at the Middlesex County (Conn.) Chamber of Commerce monthly breakfast meeting.

Hosted by the Chamber, the March 16 event was part of the largest monthly breakfast forum in the state bringing local business owners and elected officials together to discuss business in Connecticut.

“We appreciate the good work being done by the Middlesex Chamber of Commerce – especially during this challenging environment,” Chênevert said. "Middletown, Connecticut is special because it is where we assemble the most advanced military engines in the world.”

Referencing Connecticut’s large budget deficit, Chênevert cited the use of Research & Development (R&D) tax credits as an area of concern. “Eliminating these credits would have a negative impact on our ability to do future high-tech R&D work in the state,” he said. In 2008, UTC performed approximately $2 billion of R&D in Connecticut, including company and customer funded research.

Chênevert also gave an update on the F-22 Raptor, one of UTC’s key military engines that is assembled at Pratt & Whitney’s Middletown facility. He emphasized that the F-22 is more advanced than any aircraft in the world, vital to our industrial base, and essential to national security. Over 25,000 Americans in 44 states are involved in manufacturing the F-22, including more than 2,000 in Connecticut.

Finally, Chênevert discussed the cost of doing business in Connecticut, identifying the state as one of the most expensive in the country for this. “We hope the legislature will work on reducing the costs of doing business in state, or at the very least take no actions to increase these costs,” Chênevert said. “Connecticut needs to remember it is in competition with almost every other state in the union to attract and retain good paying jobs.”

UTC employs approximately 28,000 people in Connecticut, making it the state’s largest private employer. Chênevert gave some examples of UTC’s contributions in Connecticut, including more than $5 million in contributions to organizations supporting education, environment and the arts. In 2008, UTC employees logged over 14,000 volunteer hours in Connecticut at events like the Special Olympics, the United Way Day of Caring, and the Hartford Marathon.

Chênevert also shared his thoughts on some of the long-term growth areas for UTC, such as emerging markets, urbanization and the demand for more energy-efficient and alternative energy solutions. He highlighted products from UTC’s portfolio such as the Connecticut Transit Fuel Cell bus, PureCycle geothermal system and Carrier’s Evergreen chiller.

“I’ve been privileged to know Louis for a number of years. He’s a corporate leader who has immense integrity and honesty,” said Larry McHugh, President, Middlesex County Chamber of Commerce, in thanking Chênevert. “Commitment, dedication and volunteerism are so important to the state of Connecticut and that always has to start at the top