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    Op-Ed
    Friday, April 19, 2024

    Build a better horse, Connecticut

    When couples split up, there are many valuable, albeit painful lessons to be learned and our ability to move on in a positive way involves seeing the truth, accepting our own culpability and making healthy adjustments for the future. This same analogy might be applicable to General Electric’s announcement that they are moving their world headquarters to Boston.

    As with any breakup, we can lament and criticize and place blame on the other party or we can look in the mirror to review our own behaviors and see the opportunities this parting of ways offers us.

    Yes, our state pension system is in disrepair, we’re facing significant budget shortfalls and our roads and bridges need fixing. But GE is not leaving Connecticut simply for those reasons or its frustration over taxes. It is leaving, it says, because Boston offers a wide range of attractive amenities, a sophisticated, concentrated high-tech work force and a proven track record of change, innovation, fiscal responsibility and cooperation.

    In its “Dear Connecticut” letter, GE points out, “We want to be at the center of an ecosystem that shares our aspirations. Greater Boston is home to 55 colleges and universities. Massachusetts spends more on research and development than any other region in the world, and Boston attracts a diverse, technologically fluent workforce focused on solving challenges for the world.”

    GE selected Boston after they “evaluated the business ecosystem, talent, long-term costs, quality of life for employees, connections with the world and proximity to other important company assets.” Those include multiple locations and several thousand GE employees already in Massachusetts. And to help further motivate GE, the state and city worked together to offer a rich incentive package and relocation assistance. So taxes and Connecticut’s fiscal woes may have started the public search, but in the end it was about much more. It was about the future of GE and what location would best serve that.

    Let’s not kid ourselves by blaming this on corporate narcissism or the high costs of doing business. GE told us what was wrong in our relationship, and we didn’t take them seriously, or seriously enough to make them believe we were willing to change. We should lament GE’s departure, but there’s work to be done.

    Connecticut is not Massachusetts, and Boston is Boston – GE looked at 40 other U.S. cities before making its decision. Connecticut has much to offer, including the many Fortune 500 companies and successful manufacturing facilities in our state that belie the naysayers. And we may not have 55 colleges and universities in one city, but we have tremendous private institutions of higher learning, and a robust community and state college system.

    So what’s missing? Creative, strategic, visionary and tactical partnerships — just what GE and other investors are telling us. What’s also missing is the leadership to get everybody on one page, universities, corporations, host cities and the state must be at the same table. Entrepreneurs and forward-thinking companies are looking for technological leadership, smart, sustained investments in education, follow-through on promises and non-partisan cooperation.

    A blatant bias to action needs to be our top priority. GE didn’t make its decision to leave Connecticut overnight – it waited to see if things were moving in the right direction, and decided they weren’t.

    Connecticut has the resources and talent to become an incubation mecca and true destination. But first we have to mitigate the continued erosion of opportunity. Infrastructure isn’t just about roads, trains and bridges. Tomorrow’s jobs start with increased support for the competitive resources we already have in place — colleges and universities that attract bright students and showcase all Connecticut has to offer. That includes brilliant faculty, visionary academic programming, dynamic internships, apprenticeship programs linked to regional employers, school-to-career cooperation and local jobs once students graduate. It’s a continuum, not separate and disparate parts.

    We do not have to become Boston or Seattle. We already are a vibrant, multi-dimensional region that attracts thousands of college students and companies begging for an excuse to stay in Connecticut. We have wide-open spaces, easy access to the ocean and mountains, thriving music, food and arts scenes in our cities and short commutes to New York City and Boston.

    It is unfortunate that GE chose to move. But as in all aspects of life, what we learn and what we choose to do to improve ourselves is the true lesson. In the long run, we may find that GE did Connecticut a favor – if we’re wise enough to benefit from this opportunity and work together more effectively and courageously to improve ourselves for the longer journey.

    Michael Fedele served as lieutenant governor of Connecticut from 2007 to 2011 and was a Republican candidate for governor. He is the founder and CEO of Stamford-based Pinnacle Group, a nationwide IT firm.

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