[GoHuskies]

If taxes were a primary concern to GE why move to metro Boston instead of Atlanta, Charlotte, or another low cost city.

GE spun off the appliance division and wants to re-invent itself as a bio-tech company. The new workers it needs to accomplish this don't live in FFC, Atlanta, Charlotte, or other small cities. Boston was a logical choice because it already has a bio-tech presence plus a huge college population.

Corporations will always complain about taxes because like any individual they would rather not pay taxes.

[Mr_250]

Originally Posted by BobNJ1960

Perhaps individual tax rates, not corp. My hunch is the layoffs are due to the fact GE hq's move, and the threats of other corps, via public statements led Ct to prudently take care of this year's deficits via a RIF long overdue.

I doubt it. GE moved 200 people from ct, thats it. So we lost a headquarters, you win some and loss some as Malloy says.

Others have threated but doubt any will actually make a move. Connecticut is a great place to live. Just because ct is broke doesn't mean anything to corporations.

[CTDex]

Originally Posted by GoHuskies

If taxes were a primary concern to GE why move to metro Boston instead of Atlanta, Charlotte, or another low cost city.

GE spun off the appliance division and wants to re-invent itself as a bio-tech company. The new workers it needs to accomplish this don't live in FFC, Atlanta, Charlotte, or other small cities. Boston was a logical choice because it already has a bio-tech presence plus a huge college population.

Corporations will always complain about taxes because like any individual they would rather not pay taxes.

Taxes may not have been the primary reason why they chose Boston over other locations. But, they were a reason of why they were unhappy with CT and made the search for a new location the top priority.

The news was filled with Malloy's discussion with GE being about taxes. While nobody sat in the presentation or meetings I can't recall reading/seeing anything that discussed the issue of CT lacking a technology hub. That only came AFTER the move was announced.

Also, the GE move is far from finished. A lot of people are writing off the full ramifications which remain to be seen. It is entirely possible that in a couple years they decide to layoff more employees in the state and pull out of CT even more.

They are trying to make a move as smoothly as possibly without upsetting the company. But once fully entrenched they may decide to "restructure" even more.

[CTDex]

Originally Posted by Mr_250

I doubt it. GE moved 200 people from ct, thats it. So we lost a headquarters, you win some and loss some as Malloy says.

Others have threated but doubt any will actually make a move. Connecticut is a great place to live. Just because ct is broke doesn't mean anything to corporations.

Part of that is because Malloy woke up and realized that he has to cut back on spending.

If CT continues to steadily increase taxes then you better believe that more companies are going to be leaving.

The U.S. has a lot of great places to live.

[JayCT]

Originally Posted by CTDex

Taxes may not have been the primary reason why they chose Boston over other locations. But, they were a reason of why they were unhappy with CT and made the search for a new location the top priority.

The news was filled with Malloy's discussion with GE being about taxes. While nobody sat in the presentation or meetings I can't recall reading/seeing anything that discussed the issue of CT lacking a technology hub. That only came AFTER the move was announced.

Also, the GE move is far from finished. A lot of people are writing off the full ramifications which remain to be seen. It is entirely possible that in a couple years they decide to layoff more employees in the state and pull out of CT even more.

They are trying to make a move as smoothly as possibly without upsetting the company. But once fully entrenched they may decide to "restructure" even more.

Then you did not read their statement when they announced the move. Go back and read it. It clearly identified the desire to be in/near high tech and higher education centers. You can read the actual statement in the link in the article here:

CT News Junkie | General Electric Announces Move to Boston

There is not mention of taxes. They do mention saving money but that is being done by selling their corporate campus in Fairfield and the GE Building in Manhattan. Again no mention of taxes. Jay

[JayCT]

I am pretty sure we already had this one posted but Bob's Furniture, the growing discount furniture chain based in Manchester, has committed to building their corporate headquarters in Manchester. This will result in adding 125 new jobs there as the company is expected to continue to grow across the country. Good news. Jay

Bob's plans 103,000 sq. ft. HQ expansion | HartfordBusiness.com

[Mike 75]

We can argue about whether or not taxes were what drove GE to Boston, but I think we can all agree that state budgeting process is broken. The state careens from from one fiscal emergency to the next and Hartford is either unable or unwilling to look 5 or 10 years in the future. Instead we get slapdash, band aid budgets assembled in the wee hours that no one has read, much less debated. There is no stability, no predictability, just constant drama. What did Ben Barnes say, the state is in a constant fiscal crisis? An apt observation, and until this "crisis" resolved, CT is not going to be attractive to businesses.

[CTDex]

Originally Posted by JayCT

Then you did not read their statement when they announced the move. Go back and read it. It clearly identified the desire to be in/near high tech and higher education centers. You can read the actual statement in the link in the article here:

CT News Junkie | General Electric Announces Move to Boston

There is not mention of taxes. They do mention saving money but that is being done by selling their corporate campus in Fairfield and the GE Building in Manhattan. Again no mention of taxes. Jay

I did read the statement. But so what? They can write whatever they want to and it was carefully written for the public's concern. It does not discount the months/years worth of prior history.



When GE execs were meeting Malloy in the summer, fall and winter it was consistently reported that they were discussing taxes, taxes, taxes.


If GE complained about CT's cities and attracting talent - then was it mentioned? I wasn't privy to the meetings but can't recall reading about it anywhere in news. It certainly wasn't being taken that way in the financial news. Not until the actual move was announced.

Like I wrote earlier, being a tech hub may have been a/the major factor in choosing Boston over other locations, however the issue of taxes pushed them to moving from CT.

[GoHuskies]

Originally Posted by CTDex

I did read the statement. But so what? They can write whatever they want to and it was carefully written for the public's concern. It does not discount the months/years worth of prior history.

With no supporting evidence a number of posters are predicting complete GE abandonment of CT very soon. Malloy & the Dems fault of course.

[BPt111]

Senate Approves Budget With Major Cuts on Party Line Vote; Republicans, Unions Opposed - Hartford Courant

Rell Gave Up On CT's Direction A Long Time Ago - Hartford Courant

http://www.courant.com/business/dan-...512-story.html