[OyCrumbler]

Two interesting things this year regarding the major corporate relocations:

- GE looks to be having a hell of a rough time and it's not clear that a move to Boston is really going to go swimmingly

- Aetna, which was headed to beautiful NYC, is staying put after its acquisition by fellow New England company CVS

The first one's more schadenfreude than anything, but the second one is some good news.

[JayCT]

Originally Posted by OyCrumbler

Two interesting things this year regarding the major corporate relocations:

- GE looks to be having a hell of a rough time and it's not clear that a move to Boston is really going to go swimmingly

- Aetna, which was headed to beautiful NYC, is staying put after its acquisition by fellow New England company CVS

The first one's more schadenfreude than anything, but the second one is some good news.

The problems at GE have been discussed on this forum fairly extensively. The poor leadership and excesses of their CEO Jeff Immelt seem to have caught up with company. The Boston headquarters building has been placed on hold while the company reevaluates its situation. There is talk of breaking the company into two.

What I find sad is that this is what became of what was once one of the most admired companies in the world. It just goes to show what the unchecked ego of a CEO can bring to a major company. GE still maintains a large presence in Connecticut. Only about 200 of the 800 jobs that were at their headquarters in Fairfield moved to Boston. The rest were relocated to Norwalk so the company is still a major employer here.

The Aetna move was a similar situation. Aetna's CEO, Mark Bertolini, claimed the move of their corporate offices because the company had trouble attracting tech talent to Hartford. This claim however was debunked when the CEO of Travelers noted that the center for their technology division was based in Hartford and they had no problem attracting talent to it. The truth was that Bartolini owned a home in Manhattan and wanted his office closer to it. CVS saw through this very expensive and unnecessary move in their takeover bid and has made a significant commitment to keeping Aetna in and expanding in Hartford. That is good news. Jay

[JayCT]

It is not surprising that a recent poll by Sacred Heart University of 1,000 Connecticut residents found that only 20% were satisfied with the final state budget and 2/3 of them felt pessimistic about the state's future. I think that this is similar to the sentiment of the posters here as well. The good news though is that 62% of those polled indicated they had a good or excellent quality of life here which I also think is reflected by the posters on this forum. I do wonder just how much different these results are than past polls of similar questions. Jay

Poll: CT residents unhappy about budget resolution, other issues | HartfordBusiness.com

[BPt111]

Originally Posted by JayCT

It is not surprising that a recent poll by Sacred Heart University of 1,000 Connecticut residents found that only 20% were satisfied with the final state budget and 2/3 of them felt pessimistic about the state's future. I think that this is similar to the sentiment of the posters here as well. The good news though is that 62% of those polled indicated they had a good or excellent quality of life here which I also think is reflected by the posters on this forum. I do wonder just how much different these results are than past polls of similar questions. Jay

Poll: CT residents unhappy about budget resolution, other issues | HartfordBusiness.com

When Malloy leave office people will feel confidence about CT again right now it uncertain.

[JayCT]

Governor Malloy seems to be going out with a bang. Tolls, more taxes, $100 million for the XL Center. Being a lame duck, he is pulling out all stops here. Will be interesting to see where the compromises are made. Jay

Malloy's revised budget affects business taxes, tax credits, XL Center | HartfordBusiness.com

[clutchrider]

I saw that today and made a pretty prolific post on fb about it. He is really trying hard to cement his legacy as one of the worst governors in recent history. The XL Center updating is junk, I'd rather see some investors move to a new location away from downtown in an arena with ladders for stairs that is way past it's prime.

[DanBev]

Originally Posted by BPt111

2018-2019 Budget

Taxnnecticut

"Eliminating a middle-class income tax credit; boosting cigarette, increase on hotel and real estate conveyance taxes from 15 to 17 percent; closing a sales tax exemption for over-the-counter medications; and stretching out spiking teacher pension costs similarly to last year’s restructuring of government contributions to the state employees’ pension."

Tax proposal

25 cents added on cigarette it $4.35 tied with New York state, ending the sales tax exemption for non-prescription medications

Sales tax 6.35% to 7%

Special 7 percent rate for restaurant transaction

Changes in the unitary tax on corporations would raise an estimated $25 million per year from major national retailers that operate in Connecticut. In addition, corporations would pay an additional $18 million in taxes due to a surcharge starting in the 2019 calendar year.

$3 tax on tires,

7 cent gas tax increase

Tolls

https://ctmirror.org/2018/02/05/mall...r-budget-cuts/

Gov. Malloy's 2019 budget includes no sales or income tax hikes - WFSB 3 Connecticut

What is CT going to do for taxes in the following years without income to match.
If they make it where I have to pay and cannot afford it,I would have to leave

[BobNJ1960]

Bridgeport-Stamford region lags in job growth - Connecticut Post

[BPt111]

Originally Posted by BobNJ1960

Bridgeport-Stamford region lags in job growth - Connecticut Post

CT job growth is 0.5-0.8%

[BobNJ1960]

Originally Posted by BPt111

CT job growth is 0.5-0.8%

correct. Horrific.