Malloy Says GE Hasn't Paid Any 'Substantial Amount' of Corporate Taxes in CT

In the wake of Fairfield-based General Electric announcing it’s looking for a more business-friendly state to call home, Gov. Dannel P. Malloy fired back saying that the company hasn’t paid “any substantial amount of corporate taxes” in the state.

Malloy made the comments while touring the I-91/I-95 interchange construction site in New Haven on Friday afternoon.

“To the best of my knowledge, GE has not paid any substantial amount of corporate taxes in the state of Connecticut,” Malloy said via WTNH News 8. “Having said that, they have wonderful, good employees in the state of Connecticut.”

GE is in the process of selling its GE Capital division, which has strong ties to Connecticut, and the Connecticut Post reports that as of Friday, the auction was ongoing with Blackstone Group purchasing much of GE Capital Real Estate and Wells Fargo a rumored bidder for GE Capital’s commercial lending group.

Malloy also said on Friday that he has had several discussions before and after GE CEO Jeff Immelt criticized the state budget and sent an email to the company’s Connecticut employees that he has “assembled an exploratory team to look into the company’s options to relocate corporate HQ to another state with a more pro-business environment.”

The Connecticut Post wrote a detailed report on the history of GE in the area and its impact on the state. Read it here.