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	<title>Jobs for New England Now &#187; incentives</title>
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		<title>New Haven Register: Is CT doing enough to retain companies as competition grows?</title>
		<link>http://www.jobsfornewenglandnow.org/2009/09/28/new-haven-register-is-ct-doing-enough-to-retain-companies-as-competition-grows/</link>
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		<pubDate>Mon, 28 Sep 2009 13:23:13 +0000</pubDate>
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				<category><![CDATA[News]]></category>
		<category><![CDATA[Uncategorized]]></category>
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		<category><![CDATA[Connecticut]]></category>
		<category><![CDATA[incentives]]></category>
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		<guid isPermaLink="false">http://www.jobsfornewenglandnow.org/?p=533</guid>
		<description><![CDATA[[Pratt and Whitney's] decision last week to reject [the state's] offer — several years after Bayer Corp. in 2006 shunned a $60 million state incentive package and moved its U.S. headquarters from West Haven to New Jersey — has some questioning whether the state does enough to retain businesses.]]></description>
			<content:encoded><![CDATA[<p>From the <a href="http://www.nhregister.com/articles/2009/09/27/business/doc4abeaef73b9ed830879448.txt">New Haven Register:</a> Within minutes of Pratt &#038; Whitney announcing in late July its intentions to shutter its Cheshire Engine Center and close its Connecticut Airfoil Repair Operation in East Hartford numerous state officials decried the action, vowing to fight to preserve the 1,000 jobs on the chopping block.</p>
<p>About six weeks later, on Sept. 3, Gov. M. Jodi Rell announced the state was offering Pratt $100 million in incentives — $20 million a year for five years — to change course and keep the Cheshire plant and East Hartford business unit open.</p>
<p>But the company’s decision last week to reject that offer — several years after Bayer Corp. in 2006 shunned a $60 million state incentive package and moved its U.S. headquarters from West Haven to New Jersey — has some questioning whether the state does enough to retain businesses.</p>
<p>Tom Mayes, vice president of Pratt &#038; Whitney Commercial Engine &#038; Global Services, in announcing the company’s decision Monday, said the state “made a generous and creative proposal in an unprecedented effort to keep jobs in the state.”</p>
<p>The incentives, however, did not address the main issues the company faces, he said — volume loss amid a declining aerospace market and labor costs. The impacted jobs will be moved to Georgia, Singapore and Japan.</p>
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