Linda McMahon, in her first official trip to Connecticut as a member of the Trump Administration, said the state has to work on becoming more business-friendly.
She said recapturing the state’s reputation of the 1970s and 1980s should be a priority.
"It's sad for me because one of the first reasons that my husband and I came to Connecticut to start a business was the favorable tax environment," said McMahon of the current fiscal situation in Connecticut. "We were able to start our business and really grow it and today it's just not true and we have many businesses that are leaving because we have an unfavorable tax environment."
General Electric made its move to Boston official this past summer with a groundbreaking. Aetna announced it would move to New York City in the next year.
Aetna did cite Connecticut’s uncertain budget situation as a factor, but General Electric did not. As a matter of fact, the tax climate in both Boston and New York are very similar to Connecticut, and in some respects, even more expensive places to do business.
Nevertheless, McMahon said Connecticut has an image problem at the very least and has a reputation for turning to tax increases to solve budget problems.
"We've eroded the tax base," McMahon said. "There are many people graduating from our colleges and institutions who leave the state to go elsewhere because there aren't jobs for them here."
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McMahon was tapped by President Donald Trump to be the administrator of the Small Business Administration. She’s one of the founders of World Wrestling Entertainment and is a twice-failed candidate for the US Senate. She spent tens of millions of her own money in unsuccessful bids for public office.
