[sleddust]

I know people in Connecticut are probably mad over General Electrics decision to move elsewhere, but would you guys rather see them move to a place like New York or Georgia or move to a place like China?

[Sigequinox]

Originally Posted by JayCT

According to the US Bureau of Labor Statistics the unemployment rate in Connecticut is 5.7% while Georgia is 6.1%. Here is a link to the data:

Unemployment Rates for States

Today's Stamford Advocate is reporting the latest data for Connecticut shows the unemployment rate is now 5.4% which is great news. The Atlanta Business Journal is reporting Georgia's latest unemployment rate is 6%.

Connecticut unemployment rate falls to 5.4 percent - StamfordAdvocate

Georgia

Atlanta's unemployment rate is 6% according to this source:

Metro Atlanta unemployment rate rises to 6 percent - Atlanta Business Chronicle

Stamford's unemployment rate is 4.4% according to the source below.

Labor Market Information - Most Recent Labor Force Data for Connecticut Towns

Georgia cities like Athens and Albany have unemployment rates comparable to Bridgeport and Hartford. I am not sure what source your information is from but mine (posted above) clearly shows Connecticut doing better than Georgia and Stamford doing better than Atlanta by far. Jay

I used the CT department of Labor, says updated July 20th 2015. Either way, Atlanta is a very viable location for any large business so CT better get off it's "im better than you" routine and take the situation very seriously. CT is nothing more than a cheaper alternative to NY. If we can no longer compete with the ludicrous NY taxes and prices, companies are just going to leave the region entirely.

[BicoastalAnn]

I'm hoping they go to NY, if anywhere, because at least those in Western FFC can continue to benefit.

[mlassoff]

Atlanta has been going through some serious challenges, not unlike Connecticut. Atlanta does have a low cost structure (housing is dirt cheap), and is in the economically hot south. However:

New York Times: 'So What's The Matter With Atlanta?' - Reaction: ATL's Economic Mobility - Curbed Atlanta
Can Atlanta Heat Up Again? by Wendell Cox, City Journal Spring 2015

Atlanta has poverty like I've never seen in the US. The sprawl is awful and I've missed the 6:30 Delta flight back to La Guardia more times than I can count because of highway traffic.

It's a cool city, but a mixed bag economically. Cheaper labor for GE of course-- which, in the end-- is what they care about.

[BPt111]

Scarborough: GE’s Immelt near tipping point on Connecticut taxes

FAIRFIELD — In the shadow of General Electric’s headquarters, MSNBC token conservative Joe Scarborough said Thursday night that Connecticut is in imminent danger of losing the conglomerate that used to sign his paychecks. The “Morning Joe” host said his former boss and fellow New Canaan resident, GE CEO Jeffrey Immelt, is at a tipping point over the state’s regressive corporate taxes.
Scarborough was the moderator of a fiscal policy forum sponsored by the conservative Yankee Institute at Fairfield University, further fueling speculation that the former GOP congressman from Florida is eyeing a return to politics in his adopted state.
“Jeff has been concerned about this business climate for 10 years,” Scarborough told Hearst Connecticut Media. “I’m sure he’s going to look around and do what’s best for General Electric.”


Scarborough, 52, said GE is more likely to leave Connecticut for a state with a more competitive tax structure, such as Georgia, than to be enticed by New York Gov. Andrew Cuomo, who visited last month to sell the company on Westchester County. “I don’t see GE leaving Connecticut to go to New York,” Scarborough said. “I don’t see Jeff going from the frying pan into the fire.”


Scarborough: GE

[JayCT]

Originally Posted by sleddust

I know people in Connecticut are probably mad over General Electrics decision to move elsewhere, but would you guys rather see them move to a place like New York or Georgia or move to a place like China?

GE has not announced that they are leaving Connecticut. They are playing the field, soliciting themselves to any and every state like a common *****. It really is kind of disgusting. Just like UTC's move from a prominent downtown skyscraper to a bland common suburban office building. Where is the pride? Where is the class? They are penny pinching to save a few cents from their obscene untaxed bottom line. Back when many major New York corporations were moving to the suburbs they built beautiful monuments to their prestige designed by prominent architects. You don't see the major tech companies doing this. Jay

[Lalalally]

I think ultimately GE will be gone from CT. I also think their ultimate responsibility lies to to their stockholders. And if they can be more profitable in a state like Georgia, then I guess so be it. Stinks for us for sure though... I'm wishing for some 11th hour miracle. I truly think our State went too far this time -- it crossed a line this past budget season, and it is need of eating a big fat slice of humble pie right before it tries to fix this s . . t mess it created

[BobNJ1960]

Originally Posted by JayCT

GE has not announced that they are leaving Connecticut. They are playing the field.

It's terrific. Moves like this will force High Cost of Government states to become more efficient as a means to control excess taxation and keep private sector jobs. Corp America is continuously doing more with less, reducing headcount due to technology. Government needs to do the same; headcount should have been easily cut in half the last 25 years, simply by becoming more efficient, just like the private sector. To not cut heads in the same proportion is simply feather-bedding 101.

GE owes NO state anything. It is up to each state to show they are the best economic option for GE's hq.

[BobNJ1960]

Originally Posted by Lalalally

I think ultimately GE will be gone from CT. I also think their ultimate responsibility lies to to their stockholders.

Bingo; GE has an obligation to optimize shareholder value.

[Peter5457]

Cant imagine ge relocating to atlanta, their schools totally suck. not even 4 or 5 top suburban schools on par w the level of top CT schools. That is why many companies and families are bypassing atlanta and moving to texas. Oh, and of course there is the carjacking issues in atlanta too, lol

Only other areas in eatern time zone that would be considered a good financial move for ge might be florida, but again the schools suck.