[CTbrooktrout]

Depends who you are and where you live. If you're anywhere else besides Fairfield County then yeah I can see you feeling screwed. If you're in FFC and work in financial services or a field that might benefit from such an expansion then you're not all that hateful of this deal. Moving this sort of company to that area of Stamford will cement the area as a financial services mecca. It'll have an abundance of high level finance talent working and living in that area and sets up the area to attract more firms from Westchester and Manhattan. This does not mean much to those in the quiet corner who will least benefit.

I think we need to look on the net economic effect of the deal which I've seen no specific numbers on, we're just hoping that it generates more economic activity than we're investing. People will want to live closer to Stamford, more apartments will be built, more people will need to buy groceries locally, more dry cleaning will be needed, Metro North ridership will surely increase which may help get funds for improving the track and train service. Surely such calculations and predictions had to be made, I just wish it was made public.

[kidyankee764]

Originally Posted by CTbrooktrout

Depends who you are and where you live. If you're anywhere else besides Fairfield County then yeah I can see you feeling screwed. If you're in FFC and work in financial services or a field that might benefit from such an expansion then you're not all that hateful of this deal. Moving this sort of company to that area of Stamford will cement the area as a financial services mecca. It'll have an abundance of high level finance talent working and living in that area and sets up the area to attract more firms from Westchester and Manhattan. This does not mean much to those in the quiet corner who will least benefit.

I think we need to look on the net economic effect of the deal which I've seen no specific numbers on, we're just hoping that it generates more economic activity than we're investing. People will want to live closer to Stamford, more apartments will be built, more people will need to buy groceries locally, more dry cleaning will be needed, Metro North ridership will surely increase which may help get funds for improving the track and train service. Surely such calculations and predictions had to be made, I just wish it was made public.

You forgot one thing: added cars onto 95.

[JViello]

Originally Posted by CTbrooktrout

Depends who you are and where you live. If you're anywhere else besides Fairfield County then yeah I can see you feeling screwed. If you're in FFC and work in financial services or a field that might benefit from such an expansion then you're not all that hateful of this deal. Moving this sort of company to that area of Stamford will cement the area as a financial services mecca. It'll have an abundance of high level finance talent working and living in that area and sets up the area to attract more firms from Westchester and Manhattan. This does not mean much to those in the quiet corner who will least benefit.

I think we need to look on the net economic effect of the deal which I've seen no specific numbers on, we're just hoping that it generates more economic activity than we're investing. People will want to live closer to Stamford, more apartments will be built, more people will need to buy groceries locally, more dry cleaning will be needed, Metro North ridership will surely increase which may help get funds for improving the track and train service. Surely such calculations and predictions had to be made, I just wish it was made public.

That's all fine and dandy, the problem is, it was going to happen anyway. They just got in line for the Gov brainchild - the first five initiative. As KidYankee pointed out, they are not stupid - if the government says "expand or stay here and you've got money" they surely looked each other in the face, laughed and signed up for a nice little perk for their already laid plans.

[JayCT]

Gee, wasn't there a thread a couple of months ago where everyone was complaining about another Hedge Fund company in Greenwich that decided to leave Connecticut for Florida???

So which is it, assist a company to stay or let the company pack up and leave??? Jay

[kidyankee764]

Originally Posted by JayCT

Gee, wasn't there a thread a couple of months ago where everyone was complaining about another Hedge Fund company in Greenwich that decided to leave Connecticut for Florida???

So which is it, assist a company to stay or let the company pack up and leave??? Jay

I see what you're saying, but the issue here is that the company was not planning on leaving at all. There were contingency plans in the works to add onto the facility in Westport should their deal with the state fall through.

[MrGompers]

These kinds of deals should be voted on by the public. They're using our money.

[ctwhitechin]

Originally Posted by MrGompers

These kinds of deals should be voted on by the public. They're using our money.

haven't you heard? The public has no say anymore in such matters..

[bobtn]

A related article written as this story broke:

Malloy's Bridgewater Greenmail A Necessary Evil For Jobs Culture - Hartford Courant

[bobtn]

Originally Posted by mlassoff

I'd want the electorate to be smart enough to vote out any politician who uses public money to line the pockets of the already ultra-wealthy... I'd also like to see schemes like this illegalized...

But I am a dreamer.

Had Malloy not made this deal, UBS, or Deloitte, and any othe state snared them, the electorate would have been enraged. At least this beats the UBS deal where the payoff is for retaining 800 FEWER jobs than when the deal was signed. Betwenn the 3 around 175 net new jobs were promised, at a cost of approximately $350-400 million if I recall correctly. About $2 million per net job. Now many of the spots pay quite well, so if we assume the employees pay $50k per year average to Ct in 2012 dollars, that is a 40 year payback.

UBS, Deloitte, and this firm employed 2,800 1,163 and 1,200 at signing or 5,163.
DEals contingent on 2,000 1,363 and 1,975 respectfully, 5,338.

[nico7]

I know the kind of people Bridgewater employs, and although you could fairly say they are self-serving, I would not call them lazy or stupid. I did the interviews, I met the hiring managers... These people are sharks. Whatever else you have to say, fine.