Gov. Malloy\’s aggressive plan to lure business with tax breaks and other corporate welfare has received a lot of criticism. But it\’s the new reality among states desperate to attract and retain jobs.
Massachusetts Gov. Deval Patrick this week staged a dramatic raid on Connecticut jobs, penetrating into the heart of Connecticut\’s economy with a theft of 250 insurance jobs from the Hartford area with a nearly $4 million deal with MassMutual. The Globe reports today:
The largest state tax break, worth $3.75 million, went to MassMutual, which pledged to move 250 insurance jobs from Connecticut to its Springfield headquarters and spend $59 million to renovate the buildings. The life insurance company is already one of the largest employers in Western Massachusetts with about 4,000 employees in the area.