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FL Gov. Rick Scott Coming to CT to Attract Biz. How FL and CT Compare.

June 16, 2017 By Staff
FL Gov. Rick Scott Coming to CT to Attract Biz. How FL and CT Compare.

Rick Scott and Dan Malloy are trading sharp words over Scott's visit to Connecticut, where the Florida governor will try to attract business to his state.

Gov. Dan Malloy (D-Conn.) is not happy with Gov. Rick Scott (R-Fla.). The Florida governor, a Republican, is visiting Connecticut next week in an effort to attract businesses to his state.

According to NBC Connecticut, the two exchanged sharp words over Scott’s visit:

“Governor Malloy’s administration has been trying, and failing, to tackle a budget deficit with an overwhelming collection of increased taxes and fees. Their job growth rate continues to lag far behind Florida and the nation, and Connecticut has lost more adjusted gross income and people to Florida than any other state in the nation,” Scott said.

…”The truth is, no amount of money or effort will make up for the fact that Gov. Scott is leading his state in the wrong direction. We are happy to host Mr. Scott to show him a better way to serve his state, but if he’s expecting anyone in Connecticut to buy what he’s selling, he’s better off saving his taxpayers the cost of the trip and staying home,” [Malloy’s] statement says.

HOW DO THEY COMPARE?

Despite Malloy’s boast, though, Florida is beating Connecticut on several economic metrics right now:

  • Unemployment rate: A lower rate of Floridians (4.5 percent) are unemployed than Nutmeggers (4.9 percent), according to the Bureau of Labor Statistics.
  • Individual income tax rate: Connecticut has a top individual income tax rate of 6.99 percent. Florida is one of seven states without an income tax.
  • Corporate tax rate: Connecticut’s top corporate income tax rate is nine percent. Florida’s is almost half that, at 5.5 percent.
  • Fiscal condition: When the Mercatus Center ranked the states by fiscal health in 2016, Florida was sixth-best. Connecticut was last.

Scott may bring up these numbers, and more, when he tries to attract businesses from Connecticut to his state.