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Malloy right to seek deal for Bridgewater

Brien J. Robertson East Lyme

Publication: The Day

Published 07/07/2014 12:00 AM
Updated 07/03/2014 05:25 PM

I suggest that the editor read his own words, "that most states aggressively practice corporate welfare to woo major job creators and Connecticut has seen big hedge fund corporations move before."

In the editorial, "Malloy not feeling the love," (July 2), the Day points to $115 million in state tax credits, forgivable loans and outright loans to entice the Bridgewater firm. That pales in relation to the annual taxes paid to Connecticut by Bridgewater Associates and its employees.

Ray Dalio could move his company out of state and would certainly be welcomed by other states with generous incentives. Would the Day take this position if Bridgewater chose to relocate to New London County?

This editorial does not reflect the positive efforts being proposed by numerous economic development groups located in southeastern Connecticut in an effort to retain businesses. Bridgewater is an economic powerhouse and crossing the border into New York could be easily done with others to follow. Let's be smart and not as shortsighted as the editorial proposes.

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