$15.6 Billion Boost: New Research Reveals Path to Transformative Economic Growth in Fairfield County

Fairfield County’s Community Foundation and Urban Institute Unveil New Research Report on Economic Growth and Inclusion

NORWALK, CT (April 2, 2025) – A new innovative research report paints a clear picture of what’s possible for Fairfield County if it comes together to create a more competitive, resilient, and inclusive regional economy.

Co-authored by experts from Fairfield County’s Community Foundation, the Urban Institute and DataHaven, the research, The Upside—Growth, Potential, and the Future of Fairfield County, makes the business case for closing socioeconomic gaps and creating more opportunities for communities to thrive.

Intentionally planning to expand opportunity could generate a $15.6 billion boost to the region’s GDP, the equivalent of the entire annual economic output of nations like the Bahamas.

The research makes the economic case for closing gaps in income, homeownership, home values, and educational attainment.

Key Outcomes That Could Result from Closing Opportunity Gaps: 

• $15.6 billion potential GDP growth by closing opportunity gaps
• $13.3 billion in additional aggregate income for local residents
• 33,000 more homeowners and 84,000 more college graduates
• $603 million in additional local property tax revenue and $1.2 billion in state tax revenue

“This research sends a powerful message: Expanding opportunity is a game-changing economic strategy,” said Mendi Blue Paca, CEO and President of Fairfield County’s Community Foundation. “For the first time, we have hard data proving that an inclusive Fairfield County isn’t just possible — it’s the key to unlocking our region’s full economic potential. The time for bold action is now.”

The Urgent Challenge

Despite being one of the wealthiest counties in the nation, Fairfield County ranks second highest in income inequality among U.S. metro areas.

Fairfield County has long been recognized as one of the most unequal counties in America,” said Kelly Davila, Principal Research Associate at DataHaven. “While we often rely on economic indicators and well-being surveys to demonstrate the various factors driving these disparities and their effect on quality of life, this new research goes a step further and actually demonstrates the benefits to all residents that could arise from closing opportunity gaps in Fairfield County.”

The Upside research highlights deep economic disparities that contribute to widening income inequality:

• White households earn $134,000 more on average annually than Black households and approximately $125,000 more than Latino households.
• Median home values for White households are approximately $580,000, compared to $343,000 for Black and $413,000 for Latino

“Fairfield County, Connecticut has the opportunity to strengthen the local and state economy, creating new opportunities for residents and local businesses,” said Dr. Christina Plerhoples Stacy, Principal Research Associate, at the Urban Institute. “In our research, we found that increasing opportunities for Fairfield County residents and closing socioeconomic gaps could lead to long-term economic gains. At a time of economic uncertainty, this new evidence-based research outlines ways in which the Fairfield County community can continue to grow and thrive using recommendations from local leaders across the private, public, nonprofit, and philanthropic sectors.”

A Call to Action

FCCF is urging business leaders, policymakers, philanthropists, and community members to act now. The study outlines key steps to drive inclusive growth, including:

• Expanding access to education: Universal preschool, stronger K-12 support, and college/trade school subsidies.
• Workforce & small business development: More apprenticeships, fair hiring practices, and expanded business financing.
• Housing solutions: Down-payment assistance for first-time homebuyers and reducing barriers to new housing construction.
• Wealth-building programs: Baby bonds, matched savings initiatives, and financial coaching.
• Healthcare & wellbeing: Expanding mental health services, workplace wellness programs, and criminal justice reform

A Roadmap for Fairfield County— and Beyond

This research has implications beyond Fairfield County — offering a blueprint for communities across the U.S. looking to drive economic prosperity by closing gaps in income, education, workforce development and housing.

“When we lift up everyone, we all rise,” said Blue Paca. “This isn’t just the right thing to do — it’s the smart thing to do. The question isn’t whether we can afford to make these investments. It’s whether we can afford not to.”

For more information or to access the full research report, visit the FCCF Website.

MEDIA CONTACT:

Lauren Stewart
Fairfield County’s Community Foundation
Phone: 804.690.9966
Email: lauren@turn-two.co
https://fccfoundation.org

About Fairfield County’s Community Foundation:

Fairfield County’s Community Foundation is partnering with our community to create a county where every person has an equitable opportunity to thrive. We work closely with community organizations, nonprofits, businesses, and philanthropists to address challenges and identify opportunities to create a stronger, more vibrant community. Informed by three decades of partnering with and serving our community, we have awarded more than $400 million in grants to nonprofits in Fairfield County and beyond. Learn more at
FCCFoundation.org.

About the Research Report:

The Upside—Growth, Potential, and the Future of Fairfield County was created by the Urban Institute, in the performance of the US Department of Health and Human Services, Administration for Children and Families, Office of Planning, Research, and Evaluation, grant 90XP05-21-01-00. Any opinion, findings, and conclusions, or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the US Department of Health and Human Services, Administration for Children and Families.