General Electric Leaving Connecticut

General Electric’s Connecticut departure: Was it increasing taxes that caused the company to flee the longtime home of their headquarters, or was there more to the story? For 42 years, General Electric’s headquarters resided in Fairfield, Connecticut, a town of around 60,000 located about an hour and a half northeast of Manhattan, New York. In 2015, the company announced it was considering a move stating that “Retroactively raising taxes again on Connecticut’s residents, businesses and services makes businesses, including our own, and citizens seriously consider whether it makes any sense to continue to be located in this state.” In January of 2016, the company confirmed that they were planning to move the company headquarters out of state, to Boston, Massachusetts. Reports were mixed about the true reasons for the company leaving the state of Connecticut. It can’t be ignored that in June of 2015, the governor of Connecticut signed into law a $1.5 billion tax hike that tr…
Read more
  • 0

Connecticut Tech Startups

Over the past few decades Connecticut has emerged as new player in the tech startup world, brushing shoulders with well known Tech Business hotspots in Silicon Valley, Chicago, and New York. Legislation on the public side and support from private companies and organizations who seek to improve Connecticut’s standing in the tech world have led to a new, thriving ecosystem for companies to flourish in. Thus, many exciting new Startups have been gaining recognition in the area. The Connecticut Technology Council has been the champion of these Startups through a yearly award in conjunction with Marcum LLP, one of the largest independent public accounting and advisory services firms in the nation. The award, called the Marcum Tech Top 40, seeks to determine the top achievers among CT startups in six categories; Overall Best, Life Sciences, Software, Green Technologies, IT Services, and New Media/Internet/Telecom. In anticipation of the 2017 winners who will be announced in about…
Read more
  • 0

Things are Brewing in Connecticut

Microbreweries are booming in Connecticut and there is no sign of them slowing down. As John Kraszewski (founder of Armada Brewing) said, “We’re not even close to having enough breweries.” In 2011 there were only 16 microbreweries, brewpubs and contract brewers in the state. At the end of 2015 there was 35 in the state and as the new year rolled around there was 55. Sales for these beers increased by 12.8% from 2014-2015. Connecticut's share was around $569 million. There is no sign of slowing down and there are many breweries that are in planning stage now, that will boom even more this year.
Read more
  • 0