One of the most basic rules in business is that entrepreneurs and investors will go where they are welcome and they will leave when they are unfairly taken advantage of.
The progressive politicians in Connecticut have recklessly created a climate where business, especially small business and new startups, cannot survive and grow.
My understanding is that Connecticut ranks #50 in economic growth, #50 in financial growth, #48 in small business growth, #46 in economic performance, and #43 in economic outlook. Connecticut has the 4th highest debt per capita at $27,540 per citizen all the while Connecticut’s public sector jobs have grown 6 times faster than the overall population.
Instead of cutting government spending, Governor Malloy began to pick winners and losers in the private sector. He borrowed $291 million to subsidize Jackson Labs, including construction costs for 10 years. That single folly is costing Connecticut citizens $42,000 for each Jackson Lab job per year. Governor Malloy also gave a $25 million “forgivable” loan to Bridgewater Associates, the largest hedge fund company, plus another $90 million for jobs training and alternative energy just so Bridgewater would move from Westport to Stamford.
Over the last 20 years 300,000 citizens have fled Connecticut either to find a job or because they can no longer afford the high taxes.
This must stop. Connecticut cannot allow this to continue. Every taxpayer and company that leaves this state increases the tax burden on those of us still here. We need new, financially conservative politicians who will reverse government spending that is out of control and eliminate regulations that hurt businesses. We need to get Connecticut back on track to a healthy economy with good-paying, private sector jobs.