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Posted inMoney

A secret, public-private campaign lures Infosys to Hartford

Infosys, an India-based information technology company undergoing a major expansion in the U.S., named Hartford on Wednesday as one of its new technology-and-innovation hubs, promising an estimated 1,000 new jobs to a city struggling to broaden its employment base and a morale boost to a state intent on drawing a share of the next generation of technology jobs. The selection came with a great back story.

Posted inMoney, Politics

Alexion reminds Malloy of the risks and rewards of corporate aid

Gov. Dannel P. Malloy picked the gleaming new New Haven offices and labs of Alexion Pharmaceuticals a year ago to highlight the returns Connecticut was getting on its economic development investments. On Tuesday, Malloy stood outside his office to answer questions about Alexion’s plans to slash jobs, close a Rhode Island production facility and relocate its headquarters to Massachusetts, while keeping a “Research Center of Excellence” in New Haven.

Posted inMoney, Politics

Call it corporate welfare or investment, Malloy says it pays off

NEW HAVEN — Gov. Dannel P. Malloy gave an upbeat assessment Tuesday of what Connecticut is getting for the $256.6 million in direct state assistance he’s given to some of the world’s biggest and richest corporations, investments often made in the face of genteel blackmail — the knowledge another governor may be waiting with a competing offer.