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LiveForFreedom May 13, 2013 at 08:59 am
The economic growth outlook looks poor for the state of Connecticut.
Insurance giant MetLife Inc.…Read More is moving 2,600 jobs from offices in four Northeast states and jobs in Bloomfield Connecticut to North Carolina.
Connecticut loses its Met Life offices in Bloomfield, Conn.
We have not heard any comments from Dan Malloy or the Democratic leadership in Hartford.
Bristol-Myers Squibb which has operations in Wallingford will pump $250 million into the expansion of its large-scale biologics manufacturing facility in Massachusetts, but not in Connecticut.
The company said it plans to expand its facility in Devens to introduce biologics development and clinical trial manufacturing capabilities to the company’s Massachusetts operations.
Pfizer has eliminated thousands of jobs in Groton and New London. Pfizer is in the process of demolishing its 118 complex Research buildings.
The economy in southeastern Connecticut peaked in 2007. The huge recession in 2008 hit the state and local towns very hard with lower tax revenues.
Huge layoffs at Pfizer displaced many highly paid taxpayers; lower property values affected the town grand list ; many small businesses closed up; less consumer spending on home improvement; health care and benefit costs rose at double digit rates.
Southeastern Connecticut has not recovered from unemployment and business losses since 2008.
Brian May 11, 2013 at 11:26 am
Of course it is! When a states policies/regulations become overly restrictive and taxation cuts…Read More profit they move to friendlier turf. It is the natural order of doing business anywhere.
When someone or some entity creates a business they never intended it to become a charity. States have to stop looking at them as pockets to be picked.
Brian May 11, 2013 at 11:26 am
Of course it is! When a states policies/regulations become overly restrictive and taxation cuts…Read More profit they move to friendlier turf. It is the natural order of doing business anywhere.
When someone or some entity creates a business they never intended it to become a charity. States have to stop looking at them as pockets to be picked.
Sue April 29, 2013 at 07:21 am
.....not only "survive the pitfalls" but thrive!! Sorry we missed the event.
Larry Lynch April 28, 2013 at 07:54 am
Good for "Sprigs & Twigs".
Its nice to see someone survive the pitfalls of running a…Read More business in a small town..
Michelle Lake April 22, 2013 at 12:31 pm
Hi Pete! Phantom is looking forward to his first ice cream of the season! So glad you are opening…Read More this year.
Can I Buy Beer in Ledyard on Memorial Day?
0 Recommend Jessie King (Editor)