I was the first businessman to win the governor’s seat in more than 25 years. I’m a small-business Democrat, someone who knows what it means to balance a budget at the end of the month.

I wasn’t going to sign a budget that increased income-tax rates for anyone in the state. I announced a self-imposed Debt Diet that reduced authorizations to Connecticut’s decades-old addiction to bonding by 40%. I kept spending increases in line with inflation the first year of the budget, with a modest increase in the second year. And I maintained a rainy-day fund in excess of $2 billion—the largest in the state’s history.

Wall Street was watching: Connecticut received its first positive ratings outlook from Standard & Poor’s in years, and spreads on Connecticut general obligation bonds continue to narrow, reducing our borrowing cost. We must create a fiscal climate in which businesses choose to locate, grow and thrive. That largely means getting our fiscal house in order, and providing tax reliability and stability. My budget eliminated the Business Entity Tax and phases out the Capital Base Tax, and it reset our relationship with the state-employee unions. I am not willing to tear up the contracts and break the promise we made to the people who serve our citizens. But we need to take a step back and look at the condition of our state’s finances and determine the best path forward to ensure fiscal stability for all 3.6 million of our residents.

While I would have preferred the UTC and Raytheon new headquarters to have been located in Connecticut, I was pleased that they worked with my administration and announced they would be making 1,000 new hires and locating Otis Elevator here upon its planned spin-off.

Part of what ails Connecticut is a willingness to harp on the past instead of focusing on the great assets we have.”