[JayCT]

Another drop in unemployment in the state. We now stand at 5.3%, down from 5.4% in July. That is great news that hopefully will continue. If this keeps up Connecticut may actually drop below the national average of 5.1% which would be really good. Jay

State unemployment rate drops to 5.3 percent - Connecticut Post

[cynic1]

Originally Posted by JayCT

Jobs are jobs. Why wouldn't a state issue tax credits to keep them here? If your numbers are correct, Georgia paid $28,750 per job in credits. For Bridgewater, Connecticut is offering $34,667 in tax credits per job. Not a lot of difference really. A lot would depend on what those jobs paid of course but I am guessing that Bridgewater, which is the largest Hedge Fund company in the world, has a much higher payroll than Mercedes. Jay

I don't disagree .... but it was my understanding was that Bridgewater was interested in moving to ... Stamford....so for the state ... whats the point .?

Then of course ... Georgia is operating at a surplus as it is ...hardly the same situation in Connecticut.

[JayCT]

Originally Posted by cynic1

I don't disagree .... but it was my understanding was that Bridgewater was interested in moving to ... Stamford....so for the state ... whats the point .?

Then of course ... Georgia is operating at a surplus as it is ...hardly the same situation in Connecticut.

They could have easily moved to Westchester or down south but they wanted to stay in Connecticut. Why not encourage them to do so? Jay

[BobNJ1960]

Originally Posted by JayCT

They could have easily moved to Westchester or down south but they wanted to stay in Connecticut. Why not encourage them to do so? Jay

You are correct. However $$$$ spent to retain are $$$$ other states use to relocate from other states.

[BobNJ1960]

Originally Posted by JayCT

This is not true. As I have posted before, so called business friendly states like Georgia, North Carolina, Florida and South Carolina have higher unemployment rates than so called business unfriendly states like Connecticut. Even your former home state, Tennessee has a higher unemployment rate. If they are so business friendly why is there such unemployment? You can see for yourself on the link below. Jay

Unemployment Rates for States

Its called rural America, Jay, but all the states mentioned have gained more jobs over the last 25 years than Ct.

States with more rural pop will always lag in employment stats.

[BobNJ1960]

Originally Posted by Mr_250

. So now CT taxpayers are being blackmailed because our lawmakers for the past 20+ years are idiots.

Yes, I know other states do it.

It would not surprise me if GE takes a huge sum of money from CT and we are left paying for it.

Correct, but you can't correct 25 years of a horrible business environment which puts corps in a great spot to either relo, or have Ct offer mega millions to keep them.

[JayCT]

Originally Posted by BobNJ1960

Its called rural America, Jay, but all the states mentioned have gained more jobs over the last 25 years than Ct.

States with more rural pop will always lag in employment stats.

So all those wonderful jobs are not spreading out across the state?

Unemployment numbers are unemployment numbers. Just like here there are places doing very well with very low unemployment numbers and places not doing great at all. Kind of depends how you slice it. It is kind of hard for a state to go anywhere but up when they have sunk so low. Fortunately Connecticut's economy is a bit more stable than most of those fast growing states. We don't tend to have thoise boom and bust cycles. Jay

[Mr_250]

Wow, Malloy wised up finally. Seeing the volatility on Wall Street and the fact that he counted on that money as revenue, he is heading off the future losses by ordering $115m in budget cuts to Connecticut Agencies. Malloy plans $115 M in budget cuts - Connecticut Post

I am actually impressed. Enough *****-footing around and make hard choices now that should/will benefit the future. CT can't handle any more tax increases and with GE on it's last leg I bet he is starting to see that CT is not the end all be all. OR maybe this $115m will go to GE.

No job cuts, be interesting to see what is actually cut.

[BobNJ1960]

[quote=JayCT;41244750]So all those wonderful jobs are not spreading out across the state?

/quote]


Correct. Rural America ALWAYS has higher overall unemployment than MTSAs.

[BobNJ1960]

Originally Posted by Mr_250

Wow, Malloy wised up finally. Seeing the volatility on Wall Street and the fact that he counted on that money as revenue, he is heading off the future losses by ordering $115m in budget cuts to Connecticut Agencies. Malloy plans $115 M in budget cuts - Connecticut Post

I am actually impressed. Enough *****-footing around and make hard choices now that should/will benefit the future. CT can't handle any more tax increases and with GE on it's last leg I bet he is starting to see that CT is not the end all be all. OR maybe this $115m will go to GE.

No job cuts, be interesting to see what is actually cut.

Excellent down payment on bigger cuts, hopefully.

When budgets are not to their liking, the private productive sector looks to cut costs. Government should do the same.