GE's Chances of Staying in CT Increase: Malloy

While GE officials continue to mull options on whether to relocate their headquarters, Gov. Dannel Malloy now says he is hopeful the Fairfield-based corporate giant will stay in Connecticut.

At an economic summit held at Fairfield University on Monday, Malloy reportedly said he is “hopeful” GE will stay in the Nutmeg state. GE CEO Jeff Immelt has said he is looking for alternative headquarter sites because of stiff corporate tax hikes.

“I’m hopeful,” Malloy said. “I think that people presume that they are going to save a lot of money moving somewhere and that’s not necessarily the case,” according to the Fairfield Citizen. Malloy said given the money GE has invested in its Connecticut workforce, “I hope that we’re back in and that we can keep them.”

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The Atlanta Journal Constitution reported that GE is no longer considering Georgia as a potential location for its headquarters. And The Hartford Courant reported that Malloy quietly engineered a very large tax favor for the company. There have been reports that GE will stay in the Northeast and is considering locations in New York as well as staying in the Fairfield headquarters its occupied for 40 years.

The Fairfield Citizen story can be found here.