NAICS 52

Finance and Insurance in Norwich-New London-Willimantic, CT

Metro Market Score 35.9 (Moderate), ranked #77 of 331 metros. 348 establishments, 1,667 jobs.

Metro Market Assessment

Metro Market Score 35.9
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Moderate

ⓘ Lower is better. Relative to national finance and insurance average.

💰High-Cost Market📈Rapid Growth🌱Emerging Market

Employment in Norwich-New London-Willimantic's finance and insurance sector grew faster than most metros last year, pushing its growth trend index to 82.5. Combined with a 35.9 market score, this metro sits in the top quartile for overall conditions.

Industry Concentration
4.5
LQ: 0.32
Rank #15 of 331 metros
Wage Competitiveness
85.5
$115,360 avg wage
Growth Trend
↑ 82.5
Employment growth index
Rank #59 of 331 metros
Wage Pressure
40.6
YoY wage change index

348 Finance and Insurance Firms in Norwich-New London-Willimantic

348
Establishments
+0.0% YoY
1,667
Total Employment
+2.3% YoY
$115,360
Average Annual Wage
+4.1% YoY
0.32
Location Quotient
Below national avg

Norwich-New London-Willimantic vs Connecticut Statewide

How this metro's finance and insurance market compares to Connecticut overall. The state ranks #51/51 for entry risk.

Measure Norwich-New London-Willimantic CT Statewide
Overall Score 35.9 Moderate 73.7 High
Score Type Metro Market Score Entry Risk Score
Rank #77 of 331 metros #51 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Norwich-New London-Willimantic

Other Services 21.2 Real Estate and Rental and Leasing 26.7 Administrative and Support Services 35.0 Healthcare and Social Assistance 35.3 Information 41.0 Retail Trade 43.7 Professional, Scientific, and Technical Services 49.6 Accommodation and Food Services 50.3 Construction 53.4

Finance and Insurance in Other Connecticut Metros

Waterbury-Shelton 54.0 #208/331 New Haven 74.6 #315/331 Hartford-West Hartford-East Hartford 78.3 #326/331 Bridgeport-Stamford-Danbury 84.0 #331/331

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Norwich-New London-Willimantic's finance and insurance sector, the wage competitiveness component (85.5) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Data period: 2024. Last updated: April 2026.