[BPt111]

Originally Posted by 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.

Dallas Texas area, Richmond, Virginia area, Arlington, VA is good move

[BobNJ1960]

Originally Posted by BPt111

Dallas Texas area, Richmond, Virginia area, Arlington, VA is good move

GE will, no doubt, have dozens of suitors. It is in the drivers seat, which it was, by virtue of the latest multi-billion tax hike,which made the public relations of any move a non issue.

[BobNJ1960]

Originally Posted by 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

Bloomberg has reported they are in exploratory talks with Atlanta. That is a very serious move!

Generally, that either means a deal is struck quickly, or another suitor pops up and wins the right to become the relocating corporation's new corp hq home.

I wonder if Cuomo courted them to have an excuse later "I tried". Logically, the Southeast makes the most sense, as long-term, state taxation will remain under control.

In the interim, Courant reports Malloy is preparing a big package for them. Logically, given other deals, it better be at least a few hundred thousand per job. Some deals, Kia in Ga I believe, hit a million per job. He'll probably have to freeze all tax types they are subject to, for decades to come, to have any shot, especially an exemption from being subject to the onerous unitary tax. Well done, DM. (sar) Costing Ct a fortune!!! (sar)

[Sigequinox]

Originally Posted by BobNJ1960

Bloomberg has reported they are in exploratory talks with Atlanta. That is a very serious move!

Generally, that either means a deal is struck quickly, or another suitor pops up and wins the right to become the relocating corporation's new corp hq home.

I wonder if Cuomo courted them to have an excuse later "I tried". Logically, the Southeast makes the most sense, as long-term, state taxation will remain under control.

In the interim, Courant reports Malloy is preparing a big package for them. Logically, given other deals, it better be at least a few hundred thousand per job. Some deals, Kia in Ga I believe, hit a million per job. He'll probably have to freeze all tax types they are subject to, for decades to come, to have any shot, especially an exemption from being subject to the onerous unitary tax. Well done, DM. (sar) Costing Ct a fortune!!! (sar)

The worst part is, this is CT paying for it's own incompetence. We are literally bidding for jobs we already have. Pathetic. All of the benefits CT thinks it has (many are overinflated, not true, or exist in dozens to hundreds of other cities) will eventually reduce themselves to extinction as high end jobs are replaced by retail and restaurant jobs--at least that thread is always positive, right?

I'm curious to see how CT's college and advanced degree demographics change over the next 10 years. I can tell you right now hordes of UConn students leave after graduation (the employed ones anyway) and, with my program in particular, I'd say post degree exodus is as high as 90% (biotech/pharma/diagnostics).

[UconnHusky1]

Originally Posted by JayCT

Why is this bad news? A major company is buying a building for their headquarters which means they will be keeping jobs here. It is not as good as their original plan to build a new building but still it is hardly bad news either. Jay

Ummm, where do you think the existing 500+ GE employees are going who are currently occupying the building??

[BobNJ1960]

Originally Posted by Sigequinox

The worst part is, this is CT paying for it's own incompetence. We are literally bidding for jobs we already have. Pathetic.

.

True, course not as pathetic as Ct giving UBS hundreds of millions to retain 2,000 jobs at a time when they had 2,800.. That is as sorry as negotiating a pay cut with your boss.

And when GE moves, or gets bought off via an offer far costlier than what other states will give them, all of the other F500 corps in Ct will do exactly the same thing.

But those Einstein legislators really pleased the masses..hitting the big guys with that unitary tax (sar)!

[BobNJ1960]

Originally Posted by Sigequinox

I'm curious to see how CT's college and advanced degree demographics change over the next 10 years. I can tell you right now hordes of UConn students leave after graduation (the employed ones anyway) and, with my program in particular, I'd say post degree exodus is as high as 90% (biotech/pharma/diagnostics).

Not surprising. The good news is, since you are young if I recall, like I was when I left Ct, you have the opportunity to spend your prime earning years where you can make the most of it, both in terms of wealth accumulation and opportunities. If I were not near the end of my career, I would not be in the Northeast for that very reason.

Study the data, and let that lead your decision making process during the early and prime portions of your career. Unemployment rate, job growth rate, GDP growth rate, state to state, and city to city migration. Do not move, if in that stage of a career, anywhere with negative state to state migration. Also study taxation per capita, and taxation growth rates, as well as the same for corps. You never want to move to the next state that convinces their GE's to seek greener pastures.

A few decades ago, Ct offered a promising future for young professionals. I recall Stamford unemployment below 3%! Bridgeport with tons of large employers-some with THOUSANDS of employees!

But they had a much better environment for major business then, and w/o such an environment, I wouldn't want to be young in such a business climate.

[BicoastalAnn]

Originally Posted by BobNJ1960

Not surprising. The good news is, since you are young if I recall, like I was when I left Ct, you have the opportunity to spend your prime earning years where you can make the most of it, both in terms of wealth accumulation and opportunities. If I were not near the end of my career, I would not be in the Northeast for that very reason.

Study the data, and let that lead your decision making process during the early and prime portions of your career. Unemployment rate, job growth rate, GDP growth rate, state to state, and city to city migration. Do not move, if in that stage of a career, anywhere with negative state to state migration. Also study taxation per capita, and taxation growth rates, as well as the same for corps. You never want to move to the next state that convinces their GE's to seek greener pastures.

A few decades ago, Ct offered a promising future for young professionals. I recall Stamford unemployment below 3%! Bridgeport with tons of large employers-some with THOUSANDS of employees!

But they had a much better environment for major business then, and w/o such an environment, I wouldn't want to be young in such a business climate.

You don't think the pendulum can/will swing back the other way and breed the next generation of F500 companies, or steal some from other states? Honestly asking... It wasn't that long ago that CT took Cigna from PA and in just 4 years we're now wondering if they'll stay! Seems like a lot can change in a short amount of time.

[HumpDay]

I think GE will stay. So many companies tease people into thinking they're moving. The state will give them incentives to stay like what they did to Pratt and UTC. I just don't agree that we have to pay them to KEEP jobs in CT and not MAKE more jobs. You put yourself in this hole by making this state anti-business so why are you wasting more of our money?

GE will most likely stay in Connecticut with some offices but move their headquarters somewhere down south.

Travelers will stay
Aetna will stay

[MrGompers]