East Haven Lawmaker Speaks Out About GE Possibly Leaving CT

Senate Minority Leader Len Fasano, R-North Haven, Senator Tony Hwang, R-Fairfield, and Senator Toni Boucher, R-Wilton, expressed serious concern for the future of Connecticut in light of Connecticut companies’ frustration regarding the state budget negotiated by Governor Malloy and legislative Democrats, and especially General Electric’s announcement Thursday that it’s exploring options to move out of state, according to a press release.

“If GE were to leave our state, it would truly be a disaster of epic proportions,” Hwang, who represents and lives in the town where the company maintains its global headquarters, said. “I’m afraid to say that it would trigger a massive economic earthquake with Fairfield at the epicenter, and aftershocks reverberating throughout the entire state.”

GE, which employs 6,300 in the state, said yesterday in an email to Connecticut employees that they will charge a company task force with seeking out a new state to call home. They will be looking to invest their Capital and workforce into a state with business friendly policies where they can grow and have market stability.

If GE leaves, they take with them their employees, 6,000 of which are people in this state, Hwang said. This would impact the approximately 65,000 supplier jobs they spend $14 billion with, which includes one local business owner who told Hwang he’d likely lose a $2 million contract with the company, and be forced to lay off about half of his workforce.

The company said that the Connecticut economy “continues to struggle as other states offer more opportunities and a better environment for business growth.”

Earlier this week, GE company officials said, “Reports that Connecticut officials intend to raise taxes by another $750 million are truly discouraging. Retroactively raising taxes again on Connecticut’s residents, businesses and services make businesses, including its own, and citizens seriously consider whether it makes any sense to continue to be located in this state.”

Boucher said that GE moving would would create a palpable ripple effect. She said GE is a “good company that supports thousands and keeps our economy moving.” Boucher does not want them to leave.

“In addition,” Hwang said, “we’re talking about a company that enriches and supports our communities through its expertise, leadership and incredibly generous employee giving and philanthropy efforts, which have contributed 4,500 volunteers who have logged nearly 50,000 volunteer hours through about 150 projects and donated millions of dollars to local nonprofits, charities and schools.”

Boucher further explained her concerns and said that large corporate donors gave millions to Americares, Girls and Boys Club, YMCA’s, UCONN, Big Brothers and Big Sisters and community college foundations, and this could jeopardize those donations for the future.

“It’s absolutely irresponsible to ignore GE and the other corporations that have chosen Connecticut as their home base for their operations. I stand with GE and am committed to doing everything in my power to ensure they continue to be a valued and respected partner and neighbor in our town and state,” Hwang said.

“Unfortunately,” the three Senators said, “the damage has already been done. But Malloy has the power to send these businesses and all residents a positive sign by vetoing this nightmare of a budget.”