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    Thursday, April 25, 2024

    Help boost small businesses not big EB

    Senator Cathy Osten, D-Sprague, would like to spend $150 million in state funds, which we don’t have, to support General Dynamics, a $31 billion-plus corporation. Why would Osten want to do this? Electric Boat builds the costs of training and construction into its Navy contracts. 

    Maybe a review of the background of this legislation is merited. Whose idea was it; our legislator, Electric Boat, the Navy, or someone else? How is it justified? What is the return on investment? Who benefits and how? 

    Justification for these funds is dubious. Look at it this way, EB says they plan to hire 800 new folks. If the 50 percent of $150 million is set aside for training the 800 folks, that amounts to about $95,000 per person. EB states they plan $1.5 billion on facility improvements. Why do they need $150 million from Connecticut taxpayers for construction?

    If this follows the expected path, taxpayers and small businesses will get screwed while EB makes out and nobody is held accountable. 

    Instead, spend the $150 million on training and construction programs for small businesses. Small businesses employ many more people in Connecticut and the return would be immediate and across all sectors − not directed at one well-heeled company − and with little chance of obfuscation or corruption.

    Mike Westkamper

    Old Saybrook