Pratt & Whitney Excess Acreage To Be Listed (Updated)

[Pudge]

I have worked with National Development at the Natick Mall ... and my mentor in Boston has been financing them for decades; this is a major National player with Institutional muscles that just happens to be located near.

As for the comments on CT being backward etc etc ... to me, that's just opportunity in different view. You are still near NYC and Boston with a incredible educated population, major medical campus centers and universities, buying power and good infrastructure - except the Interstate on the coast.

 

[Waquoit]

I don’t think this is a good thing for the state at all…this is the beginning of Raytheon planning their exit from CT and getting something for this land before they devalue it by leaving behind all their facilities here. Many on here may not agree with this,...

I don't think you are telling anybody anything they don't already believe.

 

[SubbaBub]

The days of Connecticut being a major commercial player are long gone unfortunately. Weicker and years of legislative mismanagement saw to that. The economic and political conditions hold it back and the culture of the state does not attract true innovation. Restaurants and outlet stores cannot replace corporate and professional income taxes. The math just doesn’t work. It’s a shame but no one in Hartford seems to care

Can't roll my eyes hard enough at this. CT is a skilled white collar worker state, but not a tech state. You can blame the lack of investment in UConn specifically for that. We aren't competing for industrial manufacturing or low wage retail. It Texas wants to try to compete with Taiwan and South Korea, let them. Maybe they'll be as successful as Wisconsin was with Foxconn.

Our economic strength has always come from economic diversity and proximity to Northeast wealth. Pratt is a shell of it past self. The fact that no one has really noticed is a testament to past leadership not to let themselves be held hostage by a single employer. Any company town eventually folds up shop, governments are fools who actively seek these arrangements are short sighted.

 

[Chin Diesel]

It's the perfect place for an In an Out Burger patty-making facility and distribution center. It's right next to the Interstate, less than a half-hour from the airport. Pittsburgh and Buffalo are well within their vaunted 500-mile radius, nevermind DC, Philly, NYC and Boston.

I don't know if there are enough cattle within range to make that feasible.

 

[Da_Aisijimo_Gou]

National Development portfolio

 

[Skiblets]

Can't roll my eyes hard enough at this. CT is a skilled white collar worker state, but not a tech state. You can blame the lack of investment in UConn specifically for that. We aren't competing for industrial manufacturing or low wage retail. It Texas wants to try to compete with Taiwan and South Korea, let them. Maybe they'll be as successful as Wisconsin was with Foxconn.

Our economic strength has always come from economic diversity and proximity to Northeast wealth. Pratt is a shell of it past self. The fact that no one has really noticed is a testament to past leadership not to let themselves be held hostage by a single employer. Any company town eventually folds up shop, governments are fools who actively seek these arrangements are short sighted.

What economic strength ? The only way the state can balance its budget is through strong wall st results which ups individual income taxes. It’s a state that is too dependent now on individual income taxes Why? White collar jobs at Aetna.CVS Gone. UTC gone. GE gone IB/hedgers along the Gold Coast. Fleeing. I cannot think Of one corporate entity at scale that is expanding in CT. There may be but if we’re being honest the white collar brain drain is a net outflow. And CTs traditional advantage is gone with no coherent strategy to get the state back on solid financial ground

 

[Kolumbo]

Cabela's was the biggest waste of prime tailgating real estate. Might as well put a golf course in there using a hybrid...a cross of Kentucky bluegrass, featherbed bent and northern California sensimilla.

 

[CL82]

The days of Connecticut being a major commercial player are long gone unfortunately. Weicker and years of legislative mismanagement saw to that. The economic and political conditions hold it back and the culture of the state does not attract true innovation. Restaurants and outlet stores cannot replace corporate and professional income taxes. The math just doesn’t work. It’s a shame but no one in Hartford seems to care

Was there really an exodus of business during the Weicker or years? It seems like it was much more recent than that.

 

[Waquoit]

I don't know if there are enough cattle within range to make that feasible.

I see opportunity.

 

[Skiblets]

Was there really an exodus of business during the Weicker or years? It seems like it was much more recent than that.

Not as bad as now. But the economic growth levers have changed since the income tax was passed. More about the knowledge economy now versus manufacturing and Insurance which dominated back then

 

[WestHartHusk]

What economic strength ? The only way the state can balance its budget is through strong wall st results which ups individual income taxes. It’s a state that is too dependent now on individual income taxes Why? White collar jobs at Aetna.CVS Gone. UTC gone. GE gone IB/hedgers along the Gold Coast. Fleeing. I cannot think Of one corporate entity at scale that is expanding in CT. There may be but if we’re being honest the white collar brain drain is a net outflow. And CTs traditional advantage is gone with no coherent strategy to get the state back on solid financial ground

Aetna - still here different name. UTC, basically still here different name (and Otis headquartered here). GE is selling off the parts…the finance remnants are still here…Corporate is gone but Corporate is soon to be gone from the Earth.

Hedgers, I don’t know. Quit being so gloomy.

 

[BlueDogs]

Was there really an exodus of business during the Weicker or years? It seems like it was much more recent than that.

Its been a fairly constant bleed out. The advantage that CT enjoyed was as a tax haven between NY and MA which attracted capital and corporate HQs bringing high net worth people to the State until voracious tax and spending policies destroyed that.

 

[Pudge]

Can't roll my eyes hard enough at this. CT is a skilled white collar worker state, but not a tech state. You can blame the lack of investment in UConn specifically for that. We aren't competing for industrial manufacturing or low wage retail. It Texas wants to try to compete with Taiwan and South Korea, let them. Maybe they'll be as successful as Wisconsin was with Foxconn.

Our economic strength has always come from economic diversity and proximity to Northeast wealth. Pratt is a shell of it past self. The fact that no one has really noticed is a testament to past leadership not to let themselves be held hostage by a single employer. Any company town eventually folds up shop, governments are fools who actively seek these arrangements are short sighted.

Drive to UAlbany and cry. The State of NY has put Billions$ into their Nanotech center. First adjacent to campus; then to other parts of the state - including 30 miles North where Global Foundry is located; 14 miles east to Regeneron - East Campus. You can't totally ding CT as the UConn Med is doing well. And Yale Medical is twice what I remember.

 

[uconnfan68]

As long as we have 169 fiefdoms, it will only get worse.

 

[SubbaBub]

What economic strength ? The only way the state can balance its budget is through strong wall st results which ups individual income taxes. It’s a state that is too dependent now on individual income taxes Why? White collar jobs at Aetna.CVS Gone. UTC gone. GE gone IB/hedgers along the Gold Coast. Fleeing. I cannot think Of one corporate entity at scale that is expanding in CT. There may be but if we’re being honest the white collar brain drain is a net outflow. And CTs traditional advantage is gone with no coherent strategy to get the state back on solid financial ground

Your delusions do not impress me.

 

[UConnJim]

Drive to UAlbany and cry. The State of NY has put Billions$ into their Nanotech center. First adjacent to campus; then to other parts of the state - including 30 miles North where Global Foundry is located; 14 miles east to Regeneron - East Campus. You can't totally ding CT as the UConn Med is doing well. And Yale Medical is twice what I remember.

What you can ding Connecticut on is development around UConn. There is no reason why the area around UConn is not booming with development and businesses that are an offshoot from UConn. Storrs and surrounding area should be an economic growth engine for CT.

 

[Chin Diesel]

What you can ding Connecticut on is development around UConn. There is no reason why the area around UConn is not booming with development and businesses that are an offshoot from UConn. Storrs and surrounding area should be an economic growth engine for CT.

As long as we have 169 fiefdoms, it will only get worse.

Lather. Rinse. Repeat.

 

[Pudge]

Lather. Rinse. Repeat.

ha ... you think NYS is better?

WE have that balance of the WEIGHTY NEEEDY Greater NYC versus the entire upstate + Long Island. The needs of the City get seesaw with upstate/LI push for funding more for suburban schools. Which is why - often - you find the best public schools districts in the country in NYS.

What you can ding Connecticut on is development around UConn. There is no reason why the area around UConn is not booming with development and businesses that are an offshoot from UConn. Storrs and surrounding area should be an economic growth engine for CT.

First hand knowledge. ONE OF THE FINEST National Student Housing Development Firms (led by a personal friend) - got a beautiful conceptual design approved by Mansfield above the Tech park. The State/UCONN paid them off to go away: we don't know that the intent is. Anyone who has been to any campus in the last 20 years have seen an explosive growth in student housing. Why compare the University of Connecticut housing choices to 20 others as a Parent? sheesh I dunno

 

[Chin Diesel]

ha ... you think NYS is better?

WE have that balance of the WEIGHTY NEEEDY Greater NYC versus the entire upstate + Long Island. The needs of the City get seesaw with upstate/LI push for funding more for suburban schools. Which is why - often - you find the best public schools districts in the country in NYS.


First hand knowledge. ONE OF THE FINEST National Student Housing Development Firms (led by a personal friend) - got a beautiful conceptual design approved by Mansfield above the Tech park. The State/UCONN paid them off to go away: we don't know that the intent is. Anyone who has been to any campus in the last 20 years have seen an explosive growth in student housing. Why compare the University of Connecticut housing choices to 20 others as a Parent? sheesh I dunno

??????

I commented on a reason for large scale projects being tough to do as being relates to a bunch of geographically small towns each with their own interests. Specifically Mansfield and Storrs residents being resistant to development near the campus.

Definitely think CT can leverage its ability to attract talent away from NYS since CT still has room to spread out. This includes a fancy member who got out of NYC and moved to Fairfield County.

Also agree with @Subbthat CT's future isn't in manufacturing mo matter how high tech it is..
Samsung isn't building a chip factory in CT.

 

[giddyup]

Can't roll my eyes hard enough at this. CT is a skilled white collar worker state, but not a tech state. You can blame the lack of investment in UConn specifically for that. We aren't competing for industrial manufacturing or low wage retail.

The State completely blew it. That’s why UConn doesn’t have a computer science program in the top 100. They bet in all the wrong places… fuel cells, nano materials, legacy pharma. There at least a dozen structural policy defects that have left the State behind the curve.

 

[CONN78SEJ]

Three hundred acres including runways to be marketed for warehouse developments. Should have some negative impact on stadium parking.

Raytheon Technologies markets 300-acre site near Pratt & Whitney for future warehouse in East Hartford

East Hartford and jet engine maker Pratt & Whitney are taking a new look at how to develop 300 acres, with a future warehouse among the early candidates that can occupy one of the few remaining…

www.courant.com

I wouldn’t walk on that ground if you paid me. God knows what’s buried there going back to the 1920’s. There was an airfield and anti aircraft battery on that land going back to before WW2.

 

[uconnbill]

One thing that has really changed in recent years is the relative cost of housing and office space in CT which is starting to change the way some companies think about locations. Using the Zillow database, here is the comparison of housing costs in Charlotte, NC, Tampa, FL and the state of Connecticut:

Average home value:

2014: Charlotte, NC: $164k, Tampa: $152k, Connecticut: $246k
2022: Charlotte, NC: $338k, Tampa: $346k, Connecticut: $328k


And, office space is also cheaper in Hartford:

Class A office space:

Hartford: $24.38/ft2
Charlotte: $31.20/ft2
Tampa: $35.77/ft2

Sure, utilities and health care costs are still a problem in Connecticut, but Connecticut is not the ridiculously high cost state that is was even 10 years ago primarily due to economic stagnation. Relative to Boston, NYC, and even Providence, Hartford is a very low cost location.

You forgot one important thing. Taxes are higher here and overall cost of living is higher as well. We have snow, the other two areas are nicer overall weather wise.
Connecticut is 6th in overall taxes
North Carolina is 28th
Florida is 45th

 

[giddyup]

You forgot one important thing. Taxes are higher here and overall cost of living is higher as well. We have snow, the other two areas are nicer overall weather wise.
Connecticut is 6th in overall taxes
North Carolina is 28th
Florida is 45th

And the estate taxes are higher, gas taxes are higher, and there is more onerous business regulation. However, our schools are better, our medical care is generally better, and there are 4 seasons if you like that. It’s a great place to live if you can afford it.

 

[BPT2Storrs]

We should have properly invested in our cities and our infrastructure and we didn’t. The shift from suburban office parks and large regional shopping malls to walkable urban centers made Connecticut less competitive, along with the other obvious things -high taxes, utility costs and regulations.

Also, it takes longer to get to NYC on Metro North now then it did decades ago. That along with the lack of a decent airport in southwestern Connecticut is mind boggling

 

[CL82]

We should have properly invested in our cities and our infrastructure and we didn’t

How so?