In 2015 Massachusetts had a population of 6.79 million
$150 million / 6.79 million residents = $22/resident
The residents of Connecticut would gladly pay $22 each to keep GE based in Connecticut.
Democrat Connecticut governor Malloy has killed the golden goose. He had warnings that GE would move if taxes stayed high. Malloy failed to get promised concessions from unions that would have lowered taxes.
Republican Massachusetts governor Baker has landed a big fish that will pay for itself in less than a year.
This is not crony capitalism. This is an example of union-driven politics in Connecticut.
Perhaps Malloy will enact an Exit Tax on GE. Wouldn’t surprise me.
Interesting math. I bet L.A. is paying out more per citizen to get the Rams.
This is nothing NEW, even though many think of it as evil “Crony Capitalism”.
In 1864 (!!) the City of ELGIN, Illinois gave, donated, and handed over 35 acres of farmland to a budding watch company PROVIDED the comany name the brand ELGIN.
This “freeby payoff” resulted in a hundred years of growth and steady employment for the area, in addition to the financial benefit accruing from the wages of the employees.
Elgin to to be the LARGEST producer of watch movement in the industry’s history. Gone now, but an example of there being nothing new.