Sen. Fasano: Failed Stamford Corporate Welfare Deal a “Victory for All CT Taxpayers”

June 30, 2014

Sen. Len Fasano (R-North Haven) today issued a statement praising state and Stamford residents who successfully fought the proposal to use $115 million in state taxpayer dollars to relocate the world’s largest hedge fund’s headquarters from Westport to Gov. Dannel P. Malloy’s hometown of Stamford:

“I commend the people of Stamford and the many activists who rose up against this waste of taxpayer money,” Sen. Fasano said. “Stamford residents and officials, including former Stamford Mayor Michael Pavia, didn’t know anything about the Bridgewater deal before it was announced. The deal would have handed over $115 million in taxes paid by Connecticut’s hard-working families to people who already have enormous amounts of money themselves. The founder of Bridgewater Associates has a net worth of $12.5 billion. He was selected as a ‘winner’ in Gov. Malloy’s economic development policy which creates many, many ‘losers.’ The fact that this deal could have had Connecticut taxpayers paying to build a corporate helipad and a recreational barge in Gov. Malloy’s hometown made this a questionable deal from the outset. Unfortunately for all Connecticut taxpayers and businesses, that’s the way Gov. Malloy does business. Gov. Malloy’s economic development policies are to bribe Connecticut businesses to stay in state. The governor’s failed Stamford corporate welfare deal is a victory for all Connecticut taxpayers.”