Connecticut

A Financial Partnership

In 2016, Canadian fintech company Dream Payments was awarded a $1.5 million equity investment in Connecticut Innovations' VentureClash global competition. Dream Payments is a cloud-based mobile payment network that partners with financial institutions.

This award will help Dream Payments open a 10-person office in the state of Connecticut. “Connecticut would provide Dream with access to a vast labor pool of financial services and software engineering university graduates and experienced professionals. Talent such as this is extremely difficult to find and Connecticut would be an exceptional area to recruit from and house such professionals,” said Brent Ho-Young, CEO of Dream Payments.

The Border Serves Praxair’s Customers

Praxair, a Danbury-based Fortune 500 company, is the largest industrial gases company in North and South America and one of the largest worldwide. The company's Canadian and U.S. operations have developed a fully integrated network of plants producing oxygen, nitrogen, argon and carbon dioxide. Praxair is responsive to its customers, making frequent deliveries on an as-needed basis across the Canada–U.S. border based on the hourly monitoring of its supply chain. Praxair produces “green” hydrogen, a by-product of the hydropower-purified chemical processes from its Niagara Falls, New York plant, for its Canadian customers.

Otis Moves People

Otis, a unit of Connecticut-based United Technologies Corp. and a world leader in the manufacture of people-moving products, including elevators, escalators, and moving walkways, is providing 54 elevators and modernizing two existing units for the O-Train Confederation Line, the first leg of Ottawa's electric Light Rail Transit system. “Otis is proud to support this project by providing customized, innovative, and modernized product solutions at a competitive price,” said Tony Grilli, president, Otis Canada Inc. “For this historic project, we are uniquely capable to provide products sturdy enough to handle a transit system with a capacity of 24,000 customers per hour in each direction, with limited control room space requirements and customized elevator cabs, some with glass panels.”

Connecticut–Canada trade

  • Connecticut exports to Canada: $1.6 billion
  • Connecticut imports from Canada: $2.9 billion
  • Bilateral trade: $4.5 billion
  • Connecticut services exports to Canada: $751 million

Connecticut–Canada tourism

  • Connecticut visits by Canadians: 156,400
  • Connecticut vacation spending by Canadians: $35 million

Connecticut’s top goods exports to Canada

  • Aircraft: $303 million
  • Fuel oil: $93 million
  • Plastics & plastic articles: $89 million
  • Optical, medical & precision instruments: $85 million
  • Paper & paperboard: $40 million

Connecticut’s top goods imports from Canada

  • Aircraft: $766 million
  • Engines & turbines: $201 million
  • Medicine, in dosage: $106 million
  • Copper & copper articles: $100 million
  • Aluminum & aluminum articles: $91 million

Connecticut exports to Canada by industry

  • Equipment & machinery (32%)
  • Transportation (21%)
  • Minerals & metals (12%)
  • Energy (8%)
  • Chemicals (7%)
  • Plastics & rubbers (6%)
  • Other (16%)

Connecticut imports from Canada by industry

  • Transportation (29%)
  • Equipment & machinery (16%)
  • Minerals & metals (15%)
  • Agriculture (9%)
  • Forest products (7%)
  • Chemicals (5%)
  • Other (18%)

Connecticut Jobs

  • 96,400 Connecticut jobs depend on trade and investment with Canada

Connecticut top services exports to Canada

  • Financial services: $257 million
  • Business, professional & technical services: $126 million
  • Insurance: $103 million
  • Royalties: $60 million
  • Telecommunications: $16 million

Highlights

  • 96,400 jobs in Connecticut depend on Canada–U.S. trade and investment
  • Total Canada–Connecticut goods trade: $4.5 billion

Connect to our team

For more information on Connecticut’s trade with Canada, please contact our trade team in New York.

February 2017
Unless otherwise mentioned, all figures are based on 2016 data in U.S. dollars. Statistics Canada: 2014 tourism, based on combined same-day and overnight travel (8/2016 release, US$1.00=C$1.1045). U.S. Census Bureau: goods trade, Canada’s export ranking (2/2017 release). U.S. Bureau of Economic Analysis: goods and services trade (3/2016 release). Trade Partnership: 2015 services trade (1/2017 release). Job numbers are from a study commissioned by the Government of Canada (11/2014 release, 2013 data). Figures may not add up due to rounding. Produced by the Embassy of Canada in Washington, D.C.