Fairfield will be Schenectady in a few years.
Posted on 01/18/2016 4:12:15 AM PST by Jim Noble
FAIRFIELD, Conn. - General Electric will leave its mark on this town beyond more than four decades of supplying hundreds of steady, high-paying jobs, and millions of dollars in property tax revenue. But it also leaves residents with many tough questions.
The giant industrial conglomerate has made significant donations to local nonprofits, while its employees shop at local businesses and volunteer their time coaching youth sports teams and working at local charities. Workers, raising families near the company's 68-acre campus in the town's Stratfield neighborhood, are active members of civic and community organizations.
The company "has always been a part of our image, our identity," said Fairfield’s highest-ranking town official, First Selectman Michael C. Tetreau. "We've always taken great pride and prestige for being the hometown for the world headquarters of GE."
But GE's announcement last week that it will pack up its central office and move to Boston leaves residents wondering who will buy the property, and whether this is the start of an exodus of companies from the area.
"Why are they leaving, what's the advantage they saw to go somewhere else?" Kristina Zalfa, an unemployed mother of two, asked over coffee at Las Vetas Lounge. "Is Fairfield, and Connecticut in general, not an advantageous enough place to have businesses stay?"
And if that's the case, "how does that affect my future and my kids' future?" she added...
(Excerpt) Read more at bostonglobe.com ...
Could this possibly have something to do with GE recently selling its appliance business to a Chinese company?
CT has one party rule.
The state GOP is a RINO joke.
Malloys first new announcement after the GE debacle is more tax increases for transportation infrastructure.
CT is so screwed.....
That’s like moving from Leningrad to Stalingrad.
CT has to be pretty pitiful if “Taxachusetts” is considered better.
What do yo think happens to small town when the local factory closes and move the China! Utter devastation.
At least GE HQ is staying in America, if you call Boston America.
Good point, they are staying in the US. FWIW, having lived in both states, MA is a better place to live. There are a lot of towns with Yankee spirit and individuality left, that are good places to live.
CT seems to have become small (and getting smaller) pockets of elite surrounded by what's becoming a third world environment.
I never understood why Boeing moved to Chiraq. Totally illogical without consideration of graft and corruption.
Because GE is still a leftist darling, filled with leftists...just hypocritical.
Pretty sad when taxachusetts is more attractive than Connecticut...
Tho I guess they could move to Austin in tex-a$$...you could almost hear them grit their teeth to say it.
From a business perspective it makes little sense to move from one high tax state to another slightly lower tax state, but GE execs thought Massachusetts had a bigger technology corridor and a wider pool of engineering talent than competing states with a lower tax structure.
“Not having any idea of the consequences as she was citing her constant voting for every ballot initiative to spend more of other people’s money to make it a better place.”
They are the same people that get themselves into massive debt. They gotta have that new car ever 3 years or so, buy a home that’s beyond their means, eat out all the time, the new boat, camper and on and on. And yes, anything the local govts want they vote for.
I’m so happy we live way out in the sticks off a gravel road. Our taxes are practically nothing.
Shouldn’t they be saying good riddance to the greedy exploiters? Go figure.
They did get tax breaks/incentives from Baker to move. Also, despite it being Taxachusetts, there are still a LOT of tech-related companies in the 128 corridor around Boston, plus a fair smattering of defense companies. Mitre is still up there, plus the Army Natick lab. Raytheon also has a campus there somewhere IIRC, and there are others lurking on Devens. Plus you have Mathworks, EMC, and plenty of others.
| ...When your city and state lose a large business to Boston, MA...your city and state are totally screwed up. I lived 20 years near Boston. This is probably a move to cut headquarters staff. A lot of smart businesses operate out of Boston. With the rise of software, even a large company can be well managed with a minimum of staff functions at the highest level. It's a reality of life in today's economy. And another beautiful thing of Mass. is that property taxes are capped at 2.5%. |
Boston?
While questioning the IQ of a coffee swilling unmarried mother of two, I am questioning the IQ of GE
That, sir, should be the subtitle of every basic economics textbook.
Wow. There are no words for how stupid and uniformed this woman is. YOU are the reason why they are leaving. Leaches like you who keep voting in Socialists who want to punish business.
EMC?
They started high-tailing it to Utah a couple years ago.
With the pending Dell acquisition of EMC, I expect EMC to be but a faint and distant Massachusetts memory.
..and if that’s the case, “how does that affect my future and my kids’ future?” she added...
This is what happens when you depend on Socialist liberal leaders. You get a bleak future.
“If that southern Fairfield County area is losing its economic base, what’s left?”
Higher local taxes will be a short term outcome...long term there will be further loss of local businesses, a further reduced tax base, and ultimately reduced property values...lots of pricey homes up on Greenfield Hill and at the Fairfield beaches...bloody expensive in all of Fairfield and Connecticut!
Fairfield will be Schenectady in a few years.
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