So long Fairfield County…Howdy South Boston.
GE has decided to pull up stakes in Connecticut for the even friendlier climes of Massachusetts. All it took was $145 million from Boston taxpayers.
Don’t worry, I’m sure it’ll be recouped. No way the move is just a headline grabber for the mayor and that in the long run it will cost Bostonians. That sort of thing never happens with this sort of corporate welfare.
(From The New American)
According to Walsh, the GE deal will pan out over the next 20 years. According to his administration, the direct and indirect benefit from GE’s move to Boston should exceed $260 million over that period. Doing the math, that means that taxpayers won’t break even on Walsh’s and Baker’s largesse and generosity until at least 12 years from now, if then.
When challenged about the sweetheart deal he cut with GE, Walsh defended the move as most politicians do: Everyone’s doing it and so we have to as well. He added that not only is this the acceptable and expected thing to do, he’s going to do more of it: