Saturday, September 20, 2014

Malloy squandered millions of taxpayer money on Jackson Labs! Florida said the ROI sucked and Malloy then gives them more money. WTF CT!

“We’re glad to be rid of them,’’ Billington said in a telephone interview. “I feel bad for the state of Connecticut if y’all have politicians who are swallowing the Jackson line hook, line and sinker.’’

Jackson Lab Florida - Hartford Courant

But Republicans said that the state would be spending far too much money at $291 million, plus another $120 million in interest, including a free building for Jackson. They noted that, as a nonprofit, Jackson will not pay corporate taxes to Connecticut or local property taxes to Farmington on 17 acres at the University of Connecticut Health Center campus. They said Connecticut needs to be cautious about spending more tax money in a state that recently had the largest tax increase in its history and has the highest per capita debt in the nation. Without architectural drawings, they also said, the state cannot know the true cost of the building, even though it has been set at $144 million for the structure and $47.3 million for scientific and technological equipment.
Republicans said the state had cut much better deals, including one announced this week in which NBC Sports will bring 450 jobs at an average of $70,000 per year to a former Clairol hair dye plant in Stamford. The Jackson deal, they noted, is far more expensive and creates jobs at a slower pace.
"Waiting 10 years for 300 jobs is preposterous,'' said Sen. John Kissel, an Enfield Republican.
Sen. L. Scott Frantz, a Greenwich Republican, said he was happy that Jackson intends to come to Connecticut, but added that the deal is far too lucrative for Jackson and far too risky for state taxpayers. Unlike an offer of 10 percent in Florida in a deal that eventually failed, there was nothing mentioned in Wednesday's bill about the state receiving any royalties from Jackson's experiments.

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