In her October 22 letter to the editor, Kim Healy cites taxes and regulatory burdens as the reason Aetna, Alexion, and GE moved out of Connecticut. She is wrong. I spent 12 years as part of the senior executive team at Alexion, and I know that taxes and regulations had absolutely nothing to do with the company’s move. No company moves to Boston, Massachusetts because they are desperate for lower taxes and relaxed regulatory burden. (And by including Aetna in her list Healy shows she deeply misunderstands that company’s circumstance).
The main reason Alexion and a couple other companies have moved out of Connecticut in recent years is because our state is not offering an environment where talented younger workers wish to live. Without vibrant metropolitan centers, twenty and thirty year-olds opt for Bostons, New Yorks, and Charlottes. And without that available talent pool, growing companies will look elsewhere to base their headquarters. So the most important steps to attract and retain growing and top tier companies is to support and invest in flourishing metropolitan centers, engaging downtowns, and housing options that young workers find desirable and affordable.
Creative solutions are needed to recruit and keep 21st century employees in Connecticut. One superb example is Senator Will Haskell’s personal initiative (and now law) that provides tax credits to Connecticut businesses that help pay off the student loans of their employees. Haskell understands Connecticut’s challenges and is aggressively addressing them with actual, specific ideas.
Tom Dubin
Chair, Wilton DTC
Wilton letter: Corporate exodus due to state’s lack of talented young people
