Editorial: Walk the Walk

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There is an important dance going on up in Hartford that will affect each one of us. Earlier this month the Governor proposed his newest state budget, which covers the next two years, until 2019. Did you watch it on television, or better yet, read several well-written pieces on the pages of the Sentinel by Senator Frantz and our columnists? If you did not, let us simply say this budget is awful. Awful for Connecticut and awful for Greenwich.

What struck us as odd, bazaar and perhaps even retaliatory was when Governor Malloy singled out Greenwich from the state’s 169 towns. In an effort to solve the underfunded Connecticut Teachers’ Retirement Fund, which the state is responsible for, the Governor wants local municipalities (i.e., local property taxes) to contribute proportionally to the fund. It is estimated that Greenwich’s share would be nearly $7 million. Since the First Selectman’s town budget is already being debated before the BET with an increase of 1.3 percent, one of the smallest in memory, the Governor’s proposal would likely increase that to 4 percent or more.

While this is disturbing in itself, it was the Governor’s comments that gave us great cause for concern. Governor Malloy said: “In the current fiscal year, the state is spending $24 million to cover pension costs of teachers and administrators in our most affluent community, Greenwich, a school district that enrolls 8,800 students.”

Really? I guess that it is fine to single us out. After all, in the last fiscal year we contributed 10 percent of the overall state income tax to Hartford. Would it be inappropriate to mention that in previous years, Greenwich actually contributed much more in taxes? Of course, that was before those wealthy individuals moved to states with more favorable tax climates.

Since the Governor singled us out, we have been giving some thought as to what our response should be. We have talked before about the need for balanced budgets, labor concessions, a more favorable tax climate, etc. Yes, the state has a $1.7 billion deficit in its current budget that the Governor says he wants to address with $700 million in unspecified union concessions and moving $400 million of the teacher’s retirement liability to local communities. But where is the plan for the future?

We cannot tax ourselves or demand enough concessions to get ourselves out of this fiscal malaise. We must have a plan for the future, and that plan must include how to make Connecticut competitive in our national and world economies. Where is our Yankee ingenuity? Connecticut used to be at the forefront of inventiveness and manufacturing. What happened? Yes, it can be argued that offshore manufacturing became more cost effective than domestic, but what about the sciences and pharma manufacturing? Greenwich used to have the largest concentration of maritime and shipping-related businesses of any city in the country with the exception of Houston, Texas. We acknowledge that the industries have changed, but much of the talent, innovation and human intelligence that made the industries so successful still remain.

We challenge Governor Malloy to come to Greenwich and hold a Town Hall meeting on how to improve our state’s economy. How can we grow it, really grow it? After all, Greenwich has some of the most successful business leaders in the world. Where better to get buy-in to improve our state’s economy than from the very people he is dependent on to keep it going? Business leaders from all major sectors would be invited. We could hear from the Governor about what his plan is to move our state forward, create jobs and wealth for all people.  We don’t need talk about a high-speed rail line from Hartford to Springfield. If he does not have the answers, then come, hold a summit and solicit input. We need to know how we are going to fill office vacancies in Stamford; how we are going to take an idled, state-owned shipyard in Bridgeport and make it work again.

It is time to stop talking the talk and start walking the walk to get our state economy working again.

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