Thursday, September 03, 2009

CT offers $100 million tax incentive to UTC

From the NHR:

Gov. M. Jodi Rell offered $100 million in incentives Thursday to jet engine maker Pratt & Whitney to prevent the possible loss of about 1,000 jobs.

The five-year plan includes lifting a cap on tax credits for parent corporation United Technologies Corp., providing training assistance, establishing a job retention tax credit, making investments in machinery and equipment and building an Engineering Center for Excellence for engineers at Pratt & Whitney and other aerospace companies.

Tim White

1 comment:

Anonymous said...

What a place. First the state can't even pass a budget and when it does, taxes go up.

Now, after having put in place taxes and programs which are driving our industrial sector to either bankruptcy or to flee we have a plan.

In order to save a mere 1,000 jobs state tax payers will be forking over about $100,000 per job to the parent company.

Now I can't speak for others but personally this appears about as wise as the cash for clunkers program. In that government edict even though I didn't want a new car this year I was told I needed to buy new cars for my neighbors. Not to be outdone by the Feds, CT is now telling all its citizens they need to fork over 100 million to keep a mere 1,000 industrial sector jobs.

Enough with your shell games. Here's a simple thought for Rell and the crazy Democrat majority state legislature - - TIME TO C-U-T TAXES N-O-W!

And before I forget in light of your recent budget triumphs with the pool etc., the TC majority possibly could learn a lesson two, high taxes drive out the very people and businesses a town just might want to keep around.