Sen. Tony Hwang today released the following statement in reaction to Farmington-based United Technologies’ June 9 announcement of its merger with Raytheon and that the combined company’s headquarters will be in Raytheon’s home state of Massachusetts.
“It’s a gut punch – a tremendous loss. It’s reminiscent of General Electric’s headquarters relocation announcement in 2016. It’s another public relations black eye for our state and for Connecticut’s reputation as a difficult place to run a business.
“UTC is synonymous with Connecticut. It is Connecticut’s largest private employer. UTC has called Connecticut home since it was founded 90 years ago. This jarring announcement from arguably our best-known, highest-profile business has got to serve as an overdue wake-up call to the governor and to the Democrat-controlled state legislature.
“A reassessment of any and all policies which negatively impact state businesses large and small needs to take place. Connecticut businesses are paying close attention to what gets debated and passed into law at the State Capitol. They must be listened to when they express concerns about the costs of tax hikes and policies like tolls, paid family medical leave, and a jump in the minimum wage to $15. Are they being heard by the majority party in Hartford?
“UTC’s announcement will have a negative impact on ancillary businesses in Connecticut as well, not to mention the negative philanthropic impact this will have in our communities. We saw this happen after GE’s announcement three and half years ago. We’ve got to change course. We’ve got to make stability and predictability our priorities. And we have got to stop punishing businesses of all sizes in our state.”