[MrGompers]

Originally Posted by beerbeer

The president and CEO of Ideanomics has suspended all work on a proposed financial technology center at the former UConn campus in West Hartford, citing “regrettable and unreconcilable differences with the State of Connecticut."


Lamont is off to a blazing start.

IOW, his attempt to shake down the state of CT failed. Let him get subsidies somewhere else.
Maybe New Hampshire will take him. Sununu has been stealing CT companies for years now anyway.




Might be time to take that 20 minute phone call.

[troutman85]

Originally Posted by MrGompers

IOW, his attempt to shake down the state of CT failed. Let him get subsidies somewhere else.
Maybe New Hampshire will take him. Sununu has been stealing CT companies for years now anyway.




Might be time to take that 20 minute phone call.

Yes, much better that the site remains a contaminated mess rather than introducing jobs and economic activity to the area.

[troutman85]

Good news, while the CEO had no comment for the courant article it appears he is now saying the project will move forward.

https://www.hartfordbusiness.com/art...lamont-meeting

[JayCT]

Originally Posted by beerbeer

The president and CEO of Ideanomics has suspended all work on a proposed financial technology center at the former UConn campus in West Hartford, citing “regrettable and unreconcilable differences with the State of Connecticut."


Lamont is off to a blazing start.

Did you miss this?

“We had a very positive meeting with Governor Lamont on Tuesday, and as a result we believe an equitable solution has been reached to move forward with Fintech Village," Poor said.

It was buried in the article and says a lot about the meeting. Burying that statement toward the end of the article makes the article click-bait since its headline and the first paragraphs of the article go on and on about "unreconcilable differences". If the differences were "unreconcilable" then why did he make this statement. He had a problem. Lamont met with him and it appears to be resolved. End of story. Jay

[kidyankee764]

P&W announced they are doing a large expansion at their south FL office:

https://www.courant.com/politics/cap...ev4-story.html

Thoughts?

[NUHuskies01]

Originally Posted by kidyankee764

P&W announced they are doing a large expansion at their south FL office:

https://www.courant.com/politics/cap...ev4-story.html

Thoughts?

Well, seems like they already have a plant there, so makes sense to me. Why build new when you can expand where you already are?

Plus, once that area of the state is underwater, they can always move back.

[kidyankee764]

Originally Posted by NUHuskies01

Well, seems like they already have a plant there, so makes sense to me. Why build new when you can expand where you already are?

Plus, once that area of the state is underwater, they can always move back.

They don’t have a presence in CT?

The point was that the expansion and investment wasn’t in CT, but in FL.

[Mr_250]

Originally Posted by kidyankee764

P&W announced they are doing a large expansion at their south FL office:

https://www.courant.com/politics/cap...ev4-story.html

Thoughts?

They just spent like $150m here. No big deal they are retrofitting an older plant for new work.

Diversity is the name of the game. Mute point overall.

[mdovell]

Originally Posted by beerbeer

One last thought. If Connecticut had no state income tax, does anyone believe any CEO would move his business to Massachusetts? It is the taxes, no matter what anyone says.

Taxes are part of it but it's an oversimplification to just say taxes. It's more on regulations.

If it was just taxes it would be as simple of "Pay xyz" ok fine. Apples to apples you can go with lower.

But it isn't like that. The regs can say all sorts of penalties, delays, options, incentives etc. It gets complicated fast. Add in federal regs, local regs, neighboring entities, non profits and it just makes it harder to manage.

The problem with CT at least to me is that the local governments and state frankly do not get long. I live in Mass and aren't saying things are perfect but for the most part things are explained pretty well one way or the other. You might not always like what's happening but you can pretty much see the process. If there's no control over local spending (30b, 149, 7c, 3039m), no control over local taxation (prop 2 1/2), no incentive programs for cooperation between local governments and state (i.e. green communities, community preservation act, community compact etc) then it gets confusing.

It isn't a democrat or republican thing it's simply a matter of getting things to work. Bickering and fighting isn't going to solve much of anything. If there's conflict simply agree to disagree and move onto something you can agree on instead of just constant gridlock.

[JayCT]

Originally Posted by Mr_250

They just spent like $150m here. No big deal they are retrofitting an older plant for new work.

Diversity is the name of the game. Mute point overall.

It’s a lot more than that. UTC has built a new 400,000 square foot engineering center in East Hartford for Pratt & Whitney plus a new UTC Research Center and renovated the UTC Collins Aerospace in Windsor Locks for a total of more than $500 million. The Florida facility is for maintenance while the East Hartford facilities design and builds engines. I would take a $500 million investment over $46 million expansion any day. Jay