Connecticut, the home of Warren Buffett's General Reinsurance Corporation, has offered a 20 year $9M loan at 2% to the company to remain in the state, amid concern that the company would move to neighbouring Westchester County.
Read what the Connecticut Governor had to say and the importance she places on retaining jobs:
"Gen Re had to make a decision -- stay in Stamford or relocate to Westchester County, New York -- and we were not going to lose those dependable jobs," Rell said. "Smart, targeted loans and investments by the state will prevent" the loss of insurance-industry positions.
Compare and contrast that to any of the empty political rhetoric around the window dressing term limits policy (chasing away jobs) and the attitude from the Government that our insurance companies would never leave Bermuda.
Time to get creative. It's a competitive world out there. Complacency is no longer an option. Other governments are getting the picture.
