Another Ct. company is leaving

A high-tech battery company is leaving Stonington Ct - 165 jobs will be going to Rhode Island.

Bad for Ct. - good news for Rhode Island

http://www.courant.com/business/hc-yardney-battery-maker-relocates-0420110418,0,5648735.story

mrmarti wrote:A high-tech battery company is leaving Stonington Ct - 165 jobs will be going to Rhode Island.

Bad for Ct. - good news for Rhode Island

http://www.courant.com/business/hc-yardney-battery-maker-relocates-0420110418,0,5648735.story

Only good for RI for property and business tax purposes. These people will not lose their jobs. This doesn't create any jobs for RI'ers - Stonington, CT is a very short distance from East Greenwich. It is actually like moving the business to the next town.

It would take me twice as long to get to a job in EG as it would for a person coming from Stonington. I'll bet that a good number of these employees live in RI anyway - Stonington borders South County.

I've been following this story since it came out in the Providence Journal and the news outlets here. Nice spin they put on it. They make it sound like RI is gaining 165 jobs but they are not. There are no available positions - the people are moving with them.

DesperateInRI wrote:

mrmarti wrote:A high-tech battery company is leaving Stonington Ct - 165 jobs will be going to Rhode Island.

Bad for Ct. - good news for Rhode Island

http://www.courant.com/business/hc-yardney-battery-maker-relocates-0420110418,0,5648735.story

Only good for RI for property and business tax purposes. These people will not lose their jobs. This doesn't create any jobs for RI'ers - Stonington, CT is a very short distance from East Greenwich. It is actually like moving the business to the next town.

It would take me twice as long to get to a job in EG as it would for a person coming from Stonington. I'll bet that a good number of these employees live in RI anyway - Stonington borders South County.

I've been following this story since it came out in the Providence Journal and the news outlets here. Nice spin they put on it. They make it sound like RI is gaining 165 jobs but they are not. There are no available positions - the people are moving with them.

Th Ct. news stations also made it appear as if we were losing those 165 jobs as well.

mrmarti wrote:

DesperateInRI wrote:

mrmarti wrote:A high-tech battery company is leaving Stonington Ct - 165 jobs will be going to Rhode Island.

Bad for Ct. - good news for Rhode Island

http://www.courant.com/business/hc-yardney-battery-maker-relocates-0420110418,0,5648735.story

Only good for RI for property and business tax purposes. These people will not lose their jobs. This doesn't create any jobs for RI'ers - Stonington, CT is a very short distance from East Greenwich. It is actually like moving the business to the next town.

It would take me twice as long to get to a job in EG as it would for a person coming from Stonington.I'll bet that a good number of these employees live in RI anyway - Stonington borders South County.

I've been following this story since it came out in the Providence Journal and the news outlets here. Nice spin they put on it. They make it sound like RI is gaining 165 jobs but they are not. There are no available positions - the people are moving with them.

Th Ct. news stations also made it appear as if we were losing those 165 jobs as well.

That is only on paper. Believe me, I have checked into it. RI will benefit from the payroll and business taxes only and will distort the actual unemployment numbers.

Any current CT employee who declines moving to RI because of a 5 or 10 mile difference better think twice.

The move brings 165 jobs to Rhode Island. The Rhode Island Economic Development Corp. offered Yardney more than $500,000 in tax exemptions and guaranteed $5 million in bonds.

This is why they moved. I have no clue why our state would do something like this when it does not add one single job for any unemployed individual in RI. It also gives tax breaks and bonds, this state is deeply in debt and can barely afford to keep essential services going.

I guess it looks good for the Governor though. It makes it appear the state's economy is growing when it is not.

Sorry for the rant. Spin like this really infuriates me. If I wasn't unemployed right now, I would actually believe that more jobs were coming. So now family and friends will keep asking, "hey, there are new jobs opening up - why don't you apply?"