Fairfield CT Loses GE Headquarters

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After a dispute with the State Of Connecticut over taxes, General Electric announced the move of their worldwide corporate headquarters from Fairfield, CT, where it's 68 acre campus has been for 42 years, to Boston, MA later this year. today. The company, which is in a diverse variety of industries, reported earnings of $149 billion last year, and employs 800 people at it's Fairfield Headquarters.

Fairfield is very close to Westchester. I-95, the Merritt Parkway, and several Metro North stations transverse the town. Fairfield sits adjacent to Bridgeport, and just east of Norwalk, where it borders Westport. It's bordered on the south by the Long Island Sound.

The property alone is worth $76.5 million. Along with the jobs it takes and people moving out of town to stay with GE, the local economy is going to take a giant hit all around. I wonder how Fairfield Fire Department will fair, I would assume GE is a major tax base for them.

http://www.ctpost.com/business/article/Boston-lands-GE-headquarters-6755956.php

http://www.courant.com/business/hc-boston-ge-moving-20160113-story.html

[SOUSGT 357]

A further worry is that GE may donate its 89 million campus to Sacred Heart University.

This would take the property off the tax rolls. GE is the Town of Fairfield's largest taxpayer according to:

http://www.ctpost.com/news/article/Officials-worried-GE-might-donate-its-6730628.php

[FFPCogs 863]

Thanks Danny boy...good job.

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FFPCogs, on 13 Jan 2016 - 5:48 PM, said:

Thanks Danny boy...good job.

Pete, you mean this Danny Boy ? Former Mayor of Stamford, Ct., now Governor of Connecticut.

www.nationalreview.com/article/389857/americas-worst-governor-matt-purple

[Dusie 8]

And don't forget GE sold off the majority of GE Capital. There will be a lot less jobs that supported towns and real estate values in Fairfield County. property taxes, sales taxes, incomes taxes are all going to be impacted

[FFPCogs 863]

Pete, you mean this Danny Boy ? Former Mayor of Stamford, Ct., now Governor of Connecticut.

www.nationalreview.com/article/389857/americas-worst-governor-matt-purple

You bet I do Willy. Those of us who lived through Danny boy's tenure as Stamford's mayor know full well what the rest of the State had in store. It's no surprise to any of us he's ranked as the WORST governor in the country and this debacle is just one more on a long list of him living up to that well deserved honor.