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State and Local Politicians, Business Leaders Discuss Impact of GE鈥檚 Departure

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State and Local Politicians, Business Leaders Discuss Impact of GE鈥檚 Departure

An audience of community members, local business owners and students gathered at the Regina A. Quick Center for the Arts on Tuesday, April 11, for the First Annual MPA Summit, Moving Forward in聽the Absence of GE .

The public forum featured a panel of nine state and local elected officials, economists and business leaders, who shared their insight and perspective on the political and economic impact of General Electric鈥檚 recent move to Massachusetts.聽Moderated by veteran journalist Tom Appleby , panelists included: Rep. Cristin McCarthy-Vahey (D-133); Michael Tetreau, First Selectman of 尖叫视频; Timothy Herbst, First Selectman of Trumbull; Joseph McGee, VP of Public Policy & Programs for The Business Council of 尖叫视频 County; Mark LeClair, Director, Master of Public Administration and professor of Economics at 尖叫视频 University; Senator Tony Hwang (R-28); Rep. Laura Devlin (R-134); Rep. Brenda Kupchick (R-132) and Ken Flatto, City of Bridgeport Director of Finance/CFO.

鈥淭he purpose of the MPA Summit is to bring citizens, students, public administrators, community leaders and state and local officials together to participate in a constructive dialogue on matters that directly affect our community,鈥 said Gayle Alberda, PhD, assistant professor of Politics and Public Administration. 鈥淒emocracy works when we can gather as a collective 鈥 Republican, Democrat, elected official, citizen, private and public interest 鈥 and exchange ideas, ask tough questions, participate in the decision making process, and most importantly listen.鈥

Each speaker had two minutes to present opening remarks followed by a question and answer session. Moderator Tom Appleby opened with the question, 鈥淗ow does GE leaving impact the value of people鈥檚 homes and/or people鈥檚 businesses?鈥

Ken Flatto, Bridgeport鈥檚 Director of Finance and former First Selectman of 尖叫视频, provided historical context about how General Electric first established its presence in Connecticut almost 100 years ago, when it purchased the biggest industrial site in Bridgeport. At its peak during the 40s 50s and 60s, GE employed 20,000 manufacturing workers. GE moved its corporate headquarters to 尖叫视频 in the 1970s, 鈥渁nd now, not only is the manufacturing component gone, but 尖叫视频 has an enormous corporate hole in its soul.鈥 Flatto added that there has to be recognition that communities matter as much as jobs matter.

尖叫视频 First Selectman Mike Tetreau spoke about the timing of GE鈥檚 departure. 鈥淚t鈥檚 a hit on our prestige. It鈥檚 a hit on the psyche of Connecticut.鈥 According to Tetreau, GE鈥檚 relocation of 200 people to Boston did not have a significant impact on real estate or the local economy, 鈥渢he other 600 people went to jobs in places like Norwalk.鈥 But Tetreau voiced his concern that the sale of GE鈥檚 campus to Sacred Heart University 鈥渢ook over a million dollars out of our tax base at a time when the state cut us an additional $15 million dollars.鈥 Tetreau added, 鈥淚n the long run I think Sacred Heart will be very positive in terms of what they鈥檙e going to do for the economy and what they鈥檙e going to do for the community.鈥

State Senator Tony Hwang led remarks from the state delegation answering the question, 鈥淲hat is the state doing to make itself more attractive to major corporations to hold on to them and to bring them in?鈥

鈥淥ne of the challenges is the state has to get its financial house in order,鈥 Hwang said. 鈥淚n our conversations with the GE executives, the lack of predictability, the lack of the courage to attack the challenges of the pensions and our pay equity and parity issues are really what drove them.鈥 Hwang added that the state government has to create an 鈥渆cosystem of predictability鈥 that is sustainable for businesses to succeed. 鈥淲hether it鈥檚 real estate, retail or corporations, we have to create and move forward, a momentum to help our business. That means we have to capitalize on our great educational institutions, we have to focus on our leadership in biotechnology 鈥 we have to create jobs and then advance manufacturing, but also more importantly, help our small businesses, they are truly the engine that has been neglected in this.鈥

State Representative Cristin McCarthy Vahey focused on 鈥済rowing our strengths鈥 including partnering with universities, colleges and technical schools to ensure a trained workforce in areas like engineering and advanced manufacturing.

尖叫视频鈥檚 MPA Director Mark LeClair, PhD, echoed those sentiments, 鈥淥ther states have had biotech corridors, high-tech corridors, tax incentives and other things to draw firms into a cooperation with the educational institutions. We need to make it a partnership between our academic institutions, one of our very strong economic legs in the state, and the manufacturing firms.鈥

Jobs, attracting millennials, retaining seniors, transportation and education in the state of Connecticut were predominant themes of the evening. According to Joseph McGee, VP of Public Policy and Programs for the Business Council of 尖叫视频 County, 鈥淐onnecticut is a great state going through a difficult transition.鈥 McGee cited demographics that, 鈥47% of our population is educated鈥攖hat is the highest in the nation,鈥 but looking into the future, 鈥渨e need 70% of our population to have that skill set and we need 300,000 jobs 鈥 at the current rate, we鈥檙e falling short 23,000 a year.鈥 He warned, 鈥淚f we can鈥檛 produce this labor force and increase our population then we are going to decline.鈥

The MPA Summit was co-sponsored by the Dolan Business School, College of Arts and Sciences, Graduate Communication Program, and both the Economic and Political Science departments, and in partnership with the Quick Center for the Arts鈥 Open Vision Series.

To watch the 2017 MPA Summit please go to 尖叫视频 University鈥檚 Facebook page:

Last modified: 04-12-17 05:47 PM

20171204

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