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Showing posts with the label First Five

Malloy’s Trickle Up Prosperity Doesn’t Work

“First Five” agreements between Governor Dannel Malloy and preferred companies such as Alexion Pharmaceuticals Inc., thought to be a “ major player in Connecticut's fledgling bioscience industry ,” are non-enforced whenever Mr. Malloy chooses not to enforce paper tiger contracts. About a year ago, Alexion moved from Cheshire into its new headquarters in New Haven, the 23 mile move having been facilitated by the usual “First Five” contractual agreement. The package delivered to Alexion’s doorstep by a grateful governor included a $6 million grant, a subsidized $20 million loan transformed into a gift provided Alexion had 650 workers in Connecticut by 2017, and tax credits worth in the neighborhood of $25 million.

Another Day, Another Crony Capitalist: Where Is The Republican Populist?

Managing Editor of the Journal Inquirer Chris Powell may be right . Even on their best day, Republicans running for office do not know how to frame an issue so that it will appeal to those not born to the purple. A story written by Steve Collins of the Bristol Press  provides a case in point. Governor Dannel Malloy had just disbursed $10 million in urban tax credits to ESPN, a well-known and prosperous sports broadcasting network that very likely did not need a handout from Mr. Malloy. Tucked within Mr. Collins' story, one finds this line: “It’s not clear, though, that the state money made much difference to the project’s completion, since ESPN had already said it would build the center before Malloy picked it to receive state financial aid.”