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Old 02-27-2011, 01:24 AM
 
134 posts, read 489,158 times
Reputation: 49

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I grew up quite close to Pratt and Whitney-East Hartford. Its sad now i only see half the workforce there now if that, that used to be there. I hear shifts have been reduced. Will CT's Manufacturing dying down and moving worsen the Economy in CT? Or will it not make much of a difference? I see pratt going, other Army plane manufacturers cutting shifts and I see the Electric boat submarine manufacturing is moving to Virginia. So will losing the manufacturing hurt the economy badly?
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Old 02-27-2011, 01:59 AM
 
Location: NJ
18,665 posts, read 19,891,472 times
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Manufacturing is what made the Ct economy strong for decades. As with every state, it matters, far more than adding retail or even services. For every direct mfg job, there are most likely 1/4th as many professional jobs linked to the facility, plus at least 3 supplier jobs linked to each direct labor position at each facility. That 3 or better ratio to 1 is superior to virtually every other type of commerce, and if one looks at the tax incentive offers per position nationwide, it is the reason new production facilities garnish such lavish incentives. Because the suppliers, who will no doubt locate nearby to service them Just In Time (as in meeting a 15 minute delivery window day after day) will be taxed at the full local rates.
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Old 02-27-2011, 06:11 AM
 
Location: New England
8,155 posts, read 20,918,550 times
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The average salary for Pratt is 62K. That's where it's going to hurt. Middle income familes which in CT are being squeezed harder and harder with higher prices, less job opportunity, shrinking housing stock (you get ghetto or mansions and not much between) and less friendly tax codes. (Why does Malloy think a family making 100K in CT is "rich" and not "middle class" so they don't need the $500 property tax credit?)

That is who's screwed. The suits will still be here, living life up Avon mountain over looking the slums of North Hartford.

The more things change...
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Old 02-27-2011, 06:30 AM
 
Location: Woburn, MA / W. Hartford, CT
5,981 posts, read 4,961,618 times
Reputation: 4024
Quote:
Originally Posted by goodfella24 View Post
I grew up quite close to Pratt and Whitney-East Hartford. Its sad now i only see half the workforce there now if that, that used to be there. I hear shifts have been reduced. Will CT's Manufacturing dying down and moving worsen the Economy in CT? Or will it not make much of a difference? I see pratt going, other Army plane manufacturers cutting shifts and I see the Electric boat submarine manufacturing is moving to Virginia. So will losing the manufacturing hurt the economy badly?
Two news events in the past 2 weeks--Boeing fuel tanker and the elimination of the joint strike force alternative by Congress--mean a large commitment to P&W engines. This should play in P&W favor for the next several years. Not sure about the hourly workforce but engineering jobs are definitely being added to support these projects.
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Old 02-27-2011, 07:57 AM
 
2,080 posts, read 3,902,709 times
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Quote:
Originally Posted by rajmelk View Post
Two news events in the past 2 weeks--Boeing fuel tanker and the elimination of the joint strike force alternative by Congress--mean a large commitment to P&W engines. This should play in P&W favor for the next several years. Not sure about the hourly workforce but engineering jobs are definitely being added to support these projects.
Exactly; experimental assy, test, production assy workers will all be stabilized due to these two programs. Killing the GE alt was a good thing; IMHO the P&W variant is superior anyhow...but i'm biased
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Old 02-27-2011, 10:28 AM
 
Location: New England
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Lets hope those engineering jobs are not being created at Pratt Singapore...
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Old 02-27-2011, 10:49 AM
 
134 posts, read 489,158 times
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I think CT is heavily involved in the insurance agency, no idea how thats doing. I do know United Technologies is moving into hartford so that could spike up some jobs.
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Old 02-27-2011, 04:00 PM
 
Location: Woburn, MA / W. Hartford, CT
5,981 posts, read 4,961,618 times
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Quote:
Originally Posted by JViello View Post
Lets hope those engineering jobs are not being created at Pratt Singapore...
Nope...East Hartford for the most part
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Old 02-27-2011, 04:01 PM
 
Location: Woburn, MA / W. Hartford, CT
5,981 posts, read 4,961,618 times
Reputation: 4024
Quote:
Originally Posted by goodfella24 View Post
I think CT is heavily involved in the insurance agency, no idea how thats doing. I do know United Technologies is moving into hartford so that could spike up some jobs.
Moving in? UTC has been headquartered in Hartford for a long time.

Interesting op-ed article today by UTC CFO in the Hartford Courant, by the way...good insights into how the company thinks.
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Old 02-27-2011, 04:26 PM
 
Location: New London County, CT
8,949 posts, read 12,072,327 times
Reputation: 5145
I am glad to hear that Pratt will be benefiting from the new contracts. This is good news.

It is still however, imperative, in my opinion, that Connecticut future-focus its economy. Perhaps this highly technical manufacturing will stay here, but, I doubt, that over the long term we will keep any other manufacturing. It's too tempting for companies to move their operations overseas where they can pay workers a fraction of our workers, pollute the environment until their heart's content and pay no taxes.

The future of Connecticut's (and the US) economy lies elsewhere.
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