General Electric CEO Jeff Immelt has told a Stamford audience that the company will always have a big presence in Connecticut. But he told the Business Council of Fairfield County that GE is still actively considering whether to move its headquarters.
Immelt has spoken only rarely about the ongoing controversy, since GE announced in June that it would consider leaving the state. He touched on it as he accepted the Walter H Wheeler, Jr. Business Leadership Award from the Council. He said that GE doesn’t look for special deals, but it needs a forward looking ecosystem.
Besides its Fairfield headquarters, a fixture in the state since 1974, GE has employees in Norwalk at GE Capital, and in Plainville at its Advanced Manufacturing Lab. It also recently acquired former Alstom sites in Windsor and Bloomfield.
Connecticut Tax Foundation Ranking Fails to Improve
The Tax Foundation said it rates Connecticut’s tax climate as 44th out of 50 states. High property taxes in the Nutmeg State hurt its ranking in the survey, which said it promotes states that have a "pro-growth" tax policy.
Wyoming came top of the rankings, while New Jersey was bottom.
The ranking particularly rewards states that do without one of the major taxes like corporation tax or individual income tax. Connecticut’s Commission on Economic Competitiveness has been grappling with the true meaning of such rankings recently, while the state’s Tax Panel is due to make recommendations on comprehensive reform of the tax code.
Uber Price Drop
If you’re an Uber user, you may notice a change in the charge for your ride today. The ridesharing service says its cutting rates in most of Connecticut, as a way to attract more business.
The company said it should amount to a 20 percent saving for most customers. And Uber also argues that the rate cut will benefit its drivers — saying attracting more rides will allow them to earn more money.
