Politics & Government

Governor Malloy Tours JobTarget in New London

Company specializes in job board management and distribution

Describing it as the kind of company needed to recover jobs that have been lost from Connecticut, Gov. Dannel Malloy toured the downtown offices of JobTarget on Monday morning.

The company, which was founded about 10 years ago, specializes in job boards for professional organizations and some trade publications. The boards are specific to a particular profession or company, with the goal of helping streamline the process of improving online job posting technology and streamlining hires.

Andrew Banever, founder and chief executive officer of the company, said he was the only employee for the first two years. Now the company employs about 70 people, with approximately 20 hires in the past year.

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“We grew 50 percent last year, and we’re going to try to grow 50 percent this year,” said Banever.

Malloy met with employees in various sectors of the company, ranging from information technology to graphic design to sales. Malloy said the predicted job growth at JobTarget is impressive, and described the company as the type of small business needed to improve the economy. He said such a restoration will be challenging, however.

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“We have about 96,000 jobs to recover before we get back to 2007 third quarter numbers,” he said.

Banever said that while they have not returned to pre-recession levels of revenue or number of positions, job postings increased in 2010.

“Hopefully it’s indicative,” he said. “The first thing companies are going to do is advertise to bring talent in.”

Banever told Malloy that any tax incentives for job creation will help companies such as JobTarget. Malloy said there is also a need to restore confidence between banks and companies so small businesses can secure loans. He said that while the state’s Department of Economic and Community Development is present in eastern Connecticut, he doesn’t think it’s “existed to the extend that it needs to.”

Malloy said New London has strong development potential. He said the three colleges in the city can help to serve as economic engines, and noted that he will be delivering the commencement address at this year.

“You’re living proof that things are happening,” he told Banever.

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