GE tells employees it’s looking to move

The CEO of Fairfield-based GE has informed employees in Connecticut that the company is looking for a new home, citing the budget passed by the state legislature.

GE-ifIn a message sent to workers and quoted in reports,GE CEO Jeff Immelt wrote that the budget contains “significant and retroactive tax increases for businesses in the state,” which he said have “serious implications” for GE and other businesses.

“As a result of this law passing,” Immelt wrote, “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. This will be a thoughtful process which will take many factors, especially employee impact, into consideration.”

Immelt told employees that GE purchases $14 billion in goods and services from Connecticut companies. Despite that, he said, taxes on GE have been raised five times since 2011 amid “uneven” support for strategies.

“I believe we should pay our fair share and that all of us should give back to our communities,” Immelt wrote. “But, we can compare Connecticut with other states where small and large businesses have a better environment to thrive and compete.”

Immelt told employees the company had expressed concerns about the $1.9 billion tax increase — the second largest in state history — throughout the week.

“If you wish to register your concern, you can find your legislator by clicking http://www.cbia.com/ga/get_involved/contact_ct_legislators/ and all legislators can be reached through the Capitol switchboard at 860-240-8500. The decision to engage your representatives is, of course, voluntary,” he wrote.

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