Senator Tony Guglielmo’s Statement Against $300 million Jackson Laboratory Deal
October 26, 2011Senator Tony Guglielmo’s Statement Against $300 million Jackson Laboratory Deal
State Senator Tony Guglielmo (R-Stafford):
“$300 million for 300 jobs 10 years from now just doesn’t add up. When I was on a bank board we made decisions based on three very important questions:
- Do we want to do business with them?
- Can we handle the loan?
- Do the numbers work?
“In this case Jackson Labs is a great company. We would be proud to do business with them. The loan, the loan is big. The state has some wiggle room, but we also have a high debt ratio and therefore being able to handle this size of a loan is debatable. Do the numbers add up? That is where this deal fails the test. Connecticut is risking taxpayer dollars on an investor that doesn’t have enough skin in the game.”
As of 5:00 pm the Senate is still debating this bill. A full vote is expected to happen this evening with strong Republican opposition.