Corporations

It’s The Economy, Stupid

Located along the rail line to New York, Stamford is a popular bedroom community for people looking to live outside but adjacent to the Big Apple. One of the nice things about Stamford is that it is nautical, which means that parts of it are somewhat historic and touch the ocean or tidal bodies of water, such as inlets and bays. Because of this, visitors and locals will often go to these areas to take in the scenery or to enjoy waterfront activities. This notwithstanding, when the home market collapsed during the financial crisis Stamford was one of the hardest hit markets. Despite a slow recovery, however, median home prices are now are well above the national average and in some communities, among this highest in the nation. The biggest reason for optimism in the Stamford real estate market is the improving economy.

 

The economy of Stamford, employs some 70,000 people and is know for healthcare, finance, insurance and scientific services. In recent years, quite a few production and digital media corporations have moved into the Stamford area. Among these are NBC Universal, WWE, A+E Networks, The People’s Court, YES Network, and ITV America.

 

Median household income hovers around $81,000. Unemployment numbers for Stamford are just above the national average, but are improving. One positive sign is that demand for housing in Stamford is rising and, while the median home prices are high, the level of affordability is still strong, especially compared against the alternatives of New York and Boston. As New York and Boston become more expensive to live and do business, companies are increasingly looking at Stamford as an inexpensive alternative with easy transportation to both major metropolitan areas. These trends have led to increasing average wealth, which may be in part responsible for Stamford’s relatively good record when it comes to crime (as compared to nearby New Haven and Hartford).

 

As of March 2018, the top 15 employers in Stamford are:

Rank Employer Employees
1 City of Stamford 3,292
2 Stamford Health Group 3,200
3 Stamford Town Center 2,200
4 Gartner 1,250
5 Charter Communications 1,000
6 Deloitte 971
7 Indeed.com 806
8 UBS AG 800
9 NBC Sports Group 775
10 World Wrestling Entertainment 700
11 Synchrony Financial 661
12 RBS/NatWest Markets 630
13 PwC 574
14 Nestlé Waters North America 550
15 Point72 Asset Management 550

 

Sources:

 

Leave a Reply

Your email address will not be published. Required fields are marked *