The reason G.E.went to Boston is the same reason Lockeed-Martin-Sikorsky will leave as well as General Dynamix Dlectric Boat.
The Taxes are too damned high.No amount of state subsidies will keep those companies in Connecticut,and Connecticut can’t afford it (Subsidies)any longer.
The governor,Dannel Malloy just reported that the States budget is blown and their finally going to have to cut the number of highly paid employees.
The State has also found that the income tax is out of balance and they’re not collecting as much from the high income people because the stock markets are terrible and these same people are fleeing the state for greener pastures.
It looks like the people of Connecticut made their beds.Now their going to have too lay in them.That is after they work like a dog to pay off Connecticut’s debt.
It's incredible what's happened to Connecticut in such a short time. It used to be a beautiful, somewhat snooty liberal Republican state with a lot of nice little towns. The whole state is now a ghetto.
I'm sure the businesses that fled NYC to Fairfield County are leaving now because of drugs and crime.
Yup. Connecticut kicked GE out — the personal income tax increases, and the noise about dramatic corporate tax changes (essentially taxing worldwide income for CT-headquartered companies), and, implicitly, the threat of future tax increases on top of these to fund CT’s huge public employee pension deficits.
Putting the new headquarters in South Boston made a lot of sense. It’s a top tier metro for educated population with fast flight connections to Europe and Asia (Europe is far north and Asia is effectively north too because of polar routes). South Boston is also a great resource: I can’t think of any city with a reservoir of developable land so close to the existing downtown corporate infrastruture and the international airport. It wouldn’t surprise me if Arlington VA was a close second: big metro, close to Dulles and Reagan National, developable land, reasonably solvent state.
Being even closer to the exec’s summer places on the Cape, Vineyard and Nantucket, Westerly and Newport, and equidistant to their places in the Green Mountains or Berkshires probably didn’t hurt either.