Fairfield County Business Journal Thinking positive
Thinking positive
As we write this, the lawmakers are flocking back to Hartford for yet another session.
We hope it won’t be as inglorious as the last.
The budget is still an ocean of red ink and rising.
State Comptroller Nancy Wyman last week reported that Connecticut’s budget deficit has hit $515 million. That’s an increase of $1.7 million over a month’s time.
We have two words for the members of the General Assembly: create jobs. Consider it an order from the business community.
In order to do that, the state must create an environment that nurtures the existing businesses that are already here.
Throwing millions of dollars in tax incentives to attract businesses to Fairfield County from just across the border in New York without duly compensating the existing businesses here is an outrage. Besides, the 300 workers that would fill the offices won’t necessarily be changing their addresses to Connecticut if they already have established homes in New York state. The state would eventually be adding to its tax rolls in about 10 years when the incentives sunset. As far as adding workers, it would be more along the lines of adding 300 commuters to the traffic-clogged I-95.
Adding taxes and fees is not the way to fix the state’s economic health.
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