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tsai3904
05-27-2016, 11:23 PM
Billionaire-Led Hedge Fund Bridgewater Lands Connecticut Aid

May 27, 2016

Bridgewater Associates LP, the world’s largest hedge fund, will receive $22 million in aid from Connecticut, which has been working to keep businesses from leaving the state.

The firm, led by billionaire Ray Dalio, was approved for a $5 million grant and a $17 million loan to expand in Westport, Wilton and Norwalk, according to minutes of the state bond commission’s meeting on Friday. The loan may be forgiven if Bridgewater, which manages about $150 billion, retains some 1,400 jobs and creates 750 new ones through 2021.

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Other financial companies have received loans like the one approved for Bridgewater. In October 2014, Connecticut extended through 2021 an agreement with UBS AG that gave the bank a $20 million loan that doesn’t have to be repaid if it keeps at least 2,000 employees in-state.

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More:
http://www.bloomberg.com/news/articles/2016-05-27/bridgewater-billionaire-led-hedge-fund-lands-connecticut-aid

Suzanimal
05-28-2016, 06:51 AM
:mad:

Or they could reform their taxes and help everyone succeed.




It’s disconcerting is how poorly Connecticut ranks by so many measures.

On the positive side this data clearly shows us what’s working, both in Connecticut and around the nation.

Reporting comes from a variety of different viewpoints, some narrow, some are tax driven, some look at broader business indicators, and some from the large firm perspective, while another is more entrepreneurial.

Stop the Slide!

We can insist on a pro-growth bias. It is not reasonable that Connecticut will suddenly become a player in the energy sector and magically grow the economy. So we have to be smart about what helps and what hurts the state as a whole. Assuming Connecticut’s attributes are special enough that economic forces can be ignored is a recipe for long-term decline. Connecticut can be better. Connecticut should be better. Here’s what the researchers tell us.

The Results

2013 Forbes Best States for Business
Virginia ranked #1 overall, Connecticut ranked #33.

Forbes ranked states on 6 indicators. Business cost, labor supply, regulatory environment, economic climate, growth prospects, and quality of life.
Business cost was the major mark against the state coming in 47th. It’s not a surprise; it’s an incontrovertible piece of why Connecticut is at the bottom based on economic growth.

For regulatory environment and economic climate Connecticut ranked 39th and 37th. Definite room for improvement.
The bright spot – Quality of life, Connecticut ranked 2nd.

2014 CNBC Top States for Business
Georgia ranked #1overall, Connecticut ranked #46.

CNBC’s methodology looked at 10 indicators of states business environment. For quality of life Connecticut ranked 14th. Not shabby, but also not without competition from the 13 better ranked states.

Connecticut ranked in 2 of the top 10 states for:
Education – 5th
Access to capital – 7th

Connecticut ranked in 4 of the bottom 10 states for:
Economy – 49th
Cost of living – 48th
Cost of doing business – 47th
Infrastructure – 42th

2014 Best and Worst States for Business from Chief Executive.net
This website doesn’t give an overall ranking instead it ranks states on a variety of measures based on responses from over 500 US chief executives. Taking the average of the three Connecticut comes in 42nd.

Ranking by measures
Taxation and regulation Connecticut ranked 45th.
Living environment Connecticut ranked 34th.
With only New York and New Jersey in its rear view mirror Connecticut ranked 48th in state and local tax burden.

2014 Small Business Policy Index from the Small Business and Entrepreneurship Council
South Dakota ranked #1overall, Connecticut ranked #41.

“Of the 47 measures included in the 2013 edition of the Index, 22 are taxes or tax related, 14 relate to regulations, five deal with government spending and debt issues, with the rest gauging the effectiveness of various important government undertakings.”

2014 Tax Foundation Business Climate Index
Wyoming ranked #1overall, Connecticut ranked #42.

This index ranks states based on taxation. Specifically corporate, individual, sales and property taxes along with the cost of unemployment insurance.

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http://www.ctcpas.org/content/26536.aspx