GE May Be On The Move from Connecticut
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In response to an increase in business taxes, GE CEO Jeffrey Immelt has told employees the company has begun exploring the possibility of leaving its Fairfield, CT HQ. The Connecticut Legislature adopted a new two-tear budget on Wednesday that will raise business taxes. GE had said it would consider finding a new home before the budget passed. Hearst Connecticut Media has obtained and shared an email from Immelt to employees. The email includes the following quote from Immelt: “I have assembled an exploratory team to look into the company’s options to relocate corporate HQ to another state with a more pro-business environment.” [CTN]