tag:blogger.com,1999:blog-9069955.post2984451164900467352..comments2023-10-26T08:02:44.948-04:00Comments on Connecticut Commentary: Red Notes from a Blue State: The Infrastructure Investment Fraud, the E-Cert Budget And Unitary-Tax Whipped Titans Of Industry Don Pescihttp://www.blogger.com/profile/11167988001948356357noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9069955.post-23122514050096400332015-06-03T15:33:15.596-04:002015-06-03T15:33:15.596-04:00Once again we see the northeastern mindset at work...Once again we see the northeastern mindset at work. No one or no businessman could possibly want to relocate out of the area. As a native Midwesterner and frequent traveler to the rest of the USA, perhaps this is more obvious. New England is shrinking to affluent areas around Boston with the rest loosing business. With GE merging with Alstom and getting out of most finance it is a perfect time to move its headquarters. Most of it's factories are in the Midwest and south with major facilities in Cincinnati (jet engines) and Atlanta (Power Plants). They are gone. The insurance types have been moving jobs out of state for years to lower cost areas. The argument was always that the critical mass of insurance expertise was in the state but this is getting less critical. Stamford has no reason to exist anymore as a tax shelter for banks and finance. I regret it but New England is about to go through the local equivalent of the Midwest rust belt times. The new industries the politicians crow about like biotech and automation depend heavily on R&D tax credits and a favorable corporate tax environment. The Progressives in charge will dry that up in a second. Notice that the only biotech new operation in CT is a non-profit Jackson labs. <br /><br />Stand far enough back and there is little reason to locate or remain. The current budget and tax bills aren't the final straw but are the final proof that things will not get better for business.dmoellinghttps://www.blogger.com/profile/13128088863830769762noreply@blogger.com