There was an article in the WSJ yesterday. Foley says further tax hikes are impossible, it’s time to cut spending.
When the Dems say this, you know you’re in trouble.
For every three Connecticut residents moving to other States, two move in from other countries.
First they got rid of the farmers, then they came for the textile makers, then the gun makers, and were left with only welfare wonders lounging in trash-filled parks that once were productive farms and industrial parks.
GE threatened a year ago to leave CT if the tax situation wasn’t resolved. It’s now moving it’s Corp HQ from Fairfield to Boston.
Aetna will certainly move a lot of jobs from CT to Louisville KY following the merger with Humana, and quite possibly it’s Corp HQ.
Other companies, like IBM in Southbury, are threatening to do the same.
CT’s at a tipping point: without the big corp HQs the state is left with a tax base that relies on defense work and NYC execs who live in Fairfield County. I don’t think Sikorsky or even Pratt are long for the state. The only big defense plant that would be impossible to move (piecemeal or otherwise) is Electric Boat in Groton.