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Old 02-08-2018, 12:26 PM
 
7,927 posts, read 7,825,070 times
Reputation: 4157

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MassMutual deal about 'solidifying the company's presence in Springfield' | masslive.com

 
Old 02-08-2018, 12:28 PM
 
486 posts, read 517,874 times
Reputation: 1058
Quote:
Originally Posted by robr2 View Post
At least they'll still have jobs but note that new jobs are coming to Boston as well as a new tower. From another article, MM is also closing offices in NC, NJ, PA, and TN.
I would think the impact on CT is pretty small here. The property is still there, so property taxes will still be collected. Most of the workers will not move from CT to MA, but will instead stay where they are... its a short change in commute.
 
Old 02-08-2018, 12:38 PM
 
21,630 posts, read 31,231,833 times
Reputation: 9809
Quote:
Originally Posted by BPt111 View Post
CT lose 1500 now gain 524


WILTON -
Gov. Dannel Malloy announced today ASML is planning to grow its operations in Wilton.

The expansion will create up to 524 new jobs and added to its current workforce in the town of 1,222 employees.

The company will construct a parking garage, expand its manufacturing and engineering operations, and make interior renovations.

The expansion project could potentially be $100 million.

ASML is one of the world's leading manufacturers of chip-making equipment used for electronic, communications, and information technology products.


Gov. Malloy announces ASML expansion in Wilton, create new jobs
A good friend of mine works at ASML. It’s excellent news for Wilton and the rest of western CT, as many of the jobs are well paid engineers/analysts etc. My friend who works there moved his family here from overseas.

One thing to note: this won’t be immediate - it will happen over the next decade.
 
Old 02-08-2018, 12:41 PM
 
21,630 posts, read 31,231,833 times
Reputation: 9809
This is already being discussed in the other thread and, as noted there, likely won’t impact CT very much. Employees wouldn’t have to uproot their lives and relocate. They’ll be working 15 minutes away.
 
Old 02-08-2018, 12:42 PM
 
487 posts, read 537,602 times
Reputation: 433
Quote:
Originally Posted by Scottamemnon View Post
I would think the impact on CT is pretty small here. The property is still there, so property taxes will still be collected. Most of the workers will not move from CT to MA, but will instead stay where they are... its a short change in commute.
Notable amount of income tax revenue will be lost as the Enfield location housed some well paying positions.
 
Old 02-08-2018, 12:45 PM
 
21,630 posts, read 31,231,833 times
Reputation: 9809
Quote:
Originally Posted by davwve View Post
Notable amount of income tax revenue will be lost as the Enfield location housed some well paying positions.
If these people lived in CT and didn’t move (which they likely won’t), CT would still collect income tax.
 
Old 02-08-2018, 01:17 PM
 
487 posts, read 537,602 times
Reputation: 433
Quote:
Originally Posted by kidyankee764 View Post
If these people lived in CT and didn’t move (which they likely won’t), CT would still collect income tax.
My understanding is that CT resident will have MA income tax withheld and will receive a credit from CT when filing schedule 2. Depending on the filers status and AGI they may or may not have a CT income tax delta to pay above what MA withheld.
 
Old 02-08-2018, 01:30 PM
 
Location: SOB-Charleston.SC
1,220 posts, read 1,425,367 times
Reputation: 466
Quote:
Originally Posted by kidyankee764 View Post
If these people lived in CT and didn’t move (which they likely won’t), CT would still collect income tax.
To simplify it .... you pay state tax to the state where you've earned your paycheck...ie the location of the employment site...... in this case MA.... all other taxes are generally paid to the state where you live.
 
Old 02-08-2018, 01:33 PM
 
Location: Connecticut
34,948 posts, read 56,989,667 times
Reputation: 11229
Quote:
Originally Posted by BPt111 View Post
Sorry, CT MassMutual is closing it Enfield, CT location and moving 1,500 jobs to Springfield, Mass

MassMutual to close Enfield facility, move jobs to Massachusetts | WTNH Connecticut News
Poor Enfield. They have lost a lot of major businesses in recent years including Hallmark, Macy's and now this. Overall it is likely to have minimal impact on the area since most of the jobs are being relocated to nearby Springfield but still Enfield will get hurt. Kind of scummy of Mass Mutual to not notify the town before the announcement. Jay
 
Old 02-08-2018, 01:34 PM
 
Location: Connecticut
34,948 posts, read 56,989,667 times
Reputation: 11229
Quote:
Originally Posted by BPt111 View Post
CT lose 1500 now gain 524


WILTON -
Gov. Dannel Malloy announced today ASML is planning to grow its operations in Wilton.

The expansion will create up to 524 new jobs and added to its current workforce in the town of 1,222 employees.

The company will construct a parking garage, expand its manufacturing and engineering operations, and make interior renovations.

The expansion project could potentially be $100 million.

ASML is one of the world's leading manufacturers of chip-making equipment used for electronic, communications, and information technology products.


Gov. Malloy announces ASML expansion in Wilton, create new jobs
This is great news. Nice to hear. Jay
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