MetLife Leaving Hartford for Bloomfield

[MadVlad]

There is trying, there is REALLY trying, and there is saying you're trying. We don't know which of these the Mayor and his administration are. He could be paying lip service, making an obligatory call and calling it a day, he could be tirelessly hounding them to stay in the city, or he could be doing nothing and saying he did. Perhaps Metlife remembers how the Mayor fought tooth and nail to keep them out of the city and decided no matter what he said they are moving. I think, at the end of the day, despite what the Mayor has done, or says he's done, that he is ultimately responsible for this loss. In my opinion, he's also responsible for WFSB, MassMutual, ING, and many other losses in the city.

And to answer Frankie, there have been a plethora of reasons companies have given for leaving the city. To be truthful, most have just moved to the suburbs, so they are still in the area, but they've used anything from parking costs, taxes, lack of space, and many other things to flee the city....

[HartfordTycoon]

Agree, at least Hartford has a good amount of corporate base that Providence would love to have. However, things get done in that city. Retail gets built, new condo's get built, the city looks clean, water fire, the city gets films and TV shows to go there (Just read a good article in Amtrak's magazine). Things just seem to get done in Providence, illegal or not its for the better!

[Whaler0718]

Precisely. Taxes and parking. We're going to lose all young talent because young professionals do not want to work in corporate office parks in Bloomfield. The city is stuck; it can't cut taxes and it doesn't own any of the parking. We need a mayor who can effectively lobby businesses and the state. (1) Bussinesses: staying in Hartford is good for you because it will solidify the talent pool and help thwart the brain drain; (2) State: you need to give Hartford a break; change this stupid property tax system so it isn't in Bloomfield's best interest to siphon employers from downtown, and invest in subsidized parking so that, until we have the critical mass for public transit, employees have some place to put their car when they get to work.

[Whaler0718]

There is trying, there is REALLY trying, and there is saying you're trying. We don't know which of these the Mayor and his administration are. He could be paying lip service, making an obligatory call and calling it a day, he could be tirelessly hounding them to stay in the city, or he could be doing nothing and saying he did. Perhaps Metlife remembers how the Mayor fought tooth and nail to keep them out of the city and decided no matter what he said they are moving. I think, at the end of the day, despite what the Mayor has done, or says he's done, that he is ultimately responsible for this loss. In my opinion, he's also responsible for WFSB, MassMutual, ING, and many other losses in the city.

[ctman]

I agree with that, I just don't know that the guys there are any more qualified to deal with the corporate sector challanges than the guys we already have. We are still years behind them in terms of polishing up the physical landscape of the city and don't have a sizable in-city student population yet. So some of the things that work well there just don't translate. Hartford has to focus on Hartford things, like getting Travelers back, building a new Arena, permanently doing something about I84. These are priorities that can realistically be pursued.

[drc72]

This is very disappointing indeed!!!!! Well another business loss under perez's belt!!!

[uconn99]

2 of the 3 things you mention would be heavily funded by the state. most of the development in hartford is due to the state, or heavy state subsidies. also, if anyone reads the hartford business journal, as of last week metlife had not received as much as a phone call from the mayor's office. the article also paints a very grim picture of what may happen when metlife leaves, such as office buildings becoming insolvent. that should be fun to watch as well as attract more residents. a vacancy rate of 18.5% for class A space is NOT good, especially when hartford has not landed a large corporate tennant in decades. I guarantee you the YMCA building is still standing in 5 years. The BOA conversion to condos has already been shelved. eddie perez calling metlife for a car insurance quote doesn't count as asking them to stay. once ING said they were going to leave it opened up the flood gates for companies to leave the city. on the plus side, at the end of 2008 there should be plenty of parking in the hilton lot and in church st garage. with half of cityplace vacant, all those vacant store fronts in hartford 21 will fit right in. i know once my job is moved out there isn't a reason to come into hartford. can get a better dinner at west hartford center and have a better time in the more walkable city of new haven.

[drc72]

At least someone else does notice this fine detail. Not saying he's off the hook, but we all knew this could happen when Met Life bought Travelers Life, a deal that Perez did happen to fight tooth and nail and tried to get Blumenthol to block the acquisition. No one remembers that, huh? Well if the AG would have blocked the deal like Perez asked, due to it potentially wreaking Havoc on Hartford, this would not have happened. But, that was very anti-business of Perez wasn't it? He should roll over and let the corporations do whatever they want regardless of how it impacts the city right? The selective outrage is amazing.

[HartfordTycoon]

Why do you keep defending Perez, he's horrible for business. Weather he is a Democrat or Republican my opinion would be the same of him. Haven't you learned anything from the union BS he pulled at the convention center. Come on????

[drc72]

Painting an accurate picture of someone is not the same as defending someone. Have I said anything untrue or inaccurate? There's a difference between it being Perez's fault Metlife is leaving or if he did enough to stop them. You also assume that is was not inevitable. I don't know if was or not.

[grock]

and one who gets along with the governor

[HartfordTycoon]

and one who gets along with the governor

[Whaler0718]

I think the answer is that the city needs to cut spending wherever it can, includnig social services. There's tons of waste in the school system; the new super cut half the front office staff! Then, lower taxes. Then, take some bold initiatives, like proposing to the state that in lieu of state subsidies, the city tax state office buildings and parking lots. The city should incentivize building garages downtown--to offer practically free parking. We get 311 and lose MetLife! Come on Perez ... you're not going to get anybody to move into Hartford b/c of 311 ... what you need is to get people to work here, thereby increase the likelihood that young professionals will reside here. And the city needs to lobby the state like nobody's business for tax incentives for businesses that stay in Hartford. How about a tax credit for residents of distressed cities! Yeah, that's a state issue, but we're not going to get any movement on something like that with a mayor who can't work with the legislature on anything. It's preposterous. We need a business person to run this town, but the inmates are running the asylum!

[HartfordTycoon]

I think the answer is that the city needs to cut spending wherever it can, includnig social services. There's tons of waste in the school system; the new super cut half the front office staff! Then, lower taxes. Then, take some bold initiatives, like proposing to the state that in lieu of state subsidies, the city tax state office buildings and parking lots. The city should incentivize building garages downtown--to offer practically free parking. We get 311 and lose MetLife! Come on Perez ... you're not going to get anybody to move into Hartford b/c of 311 ... what you need is to get people to work here, thereby increase the likelihood that young professionals will reside here. And the city needs to lobby the state like nobody's business for tax incentives for businesses that stay in Hartford. How about a tax credit for residents of distressed cities! Yeah, that's a state issue, but we're not going to get any movement on something like that with a mayor who can't work with the legislature on anything. It's preposterous. We need a business person to run this town, but the inmates are running the asylum!

[MadVlad]

The problem is the State could care less. So long as Metlife stays in the State, it's all good in their minds. What they don't realize is they are allowing downtown Hartford to be damaged for the long term. Moving all the business' to the 'burbs is stupid logic, it damages the total area which barely perking up the one. Bloomfield gains some tax base, but nothing else. All those people will just hop in their car and leave, they aren't going to add anything else to Bloomfield. The difference is that downtown Hartford would gain exponentially by keeping those people downtown. Unlike Bllmfield, the people in downtown have a chance to walk and interact with the surrounding area, making the city core healthier, thereby making the surrounding areas healthier. But instead let's look at the short term and boost Bloomfield. Unbelievable...

[Whaler0718]

As always you make a lot of sense, but if I'm reading your post correctly a lot of what Perez could offer would come by the way of begging the state for more support so that we can lower taxes and cutting services for city residents so that you can give tax breaks to large corporations. I'm not for that. It's not Hartford's fault that the property tax system is the way it is and Hartford get's screwed with a high mill rate. We have tons of untaxable land and I don't really see where social services should be reduced. That means high taxes to pay for needed services. We need more cops and cleaner streets, all of this costs even more money meaning more taxes. I just don't completely follow the lower taxes, cut services, beg the state strategy that you seem to be advocating. So I do see this a bit differently than you. I don't see a realistic solution for many of our problems to be honest. We need to get the state to kick in for large improvements to the city and get Front Street and the new Arena built. Things within our control. We do not control the way corporate America does business, we have way more control over what residential and entertainment options we are putting into the city to make it more attractive.

The state should step in here and offer a kick ass incentive package if they care about this to keep Metlife Downtown. I bet they could pull it off. Hartford doesn't have anything to give away to Metlife that would compensate for the parking cost, taxes, etc. That's the issue as I see it. Not one man's fault.

[HartfordTycoon]

We need to think like a business. I agree that the property tax scheme isn't the city's fault. But you're not going to get real property tax reform anytime soon (especially not with this mayor, though I do think that a good mayor would hire a lobbying outfit, get corporatations on board, non-profit groups, etc and full court press the legislature). In the meantime, you have to employ some supply side economics. Companies will go where it is cheaper to do business, so make it cheaper here. There's plenty of space for them in Hartford; we can build up. So, make it dirt cheap for them to do business here, they come, and your overall tax revenue goes up. 1 business taxed at 10% is the same as 2 at 5% ... it's short term pain for long-term gain. Cow-tow to the unions and you make Hartford workers happy in the short term, but what happens when the businesses leave?! What's a union without an employer. Last time I checked unions don't pay anybody ... except their bosses and lobbyists. Focus on keeping the employers here. Work with corporations to sponsor infrastructure improvements, rather than just taxing them--let them have an ownership stake in something. And start suing people. Find a reason to sue surface lot operators. Sue them for violating state antitrust laws--heavens knows they price fix. There are tons and tons of ways to solve this but it requires bold leadership, and it absolutely requires a leader who is not afraid to take on unions, including the teachers unions, who are pretty much the biggest obstacle to improving urban public education.

[Whaler0718]

I agree with you ... and it's totally frustrating. But we need to think out of the box rather than bang the same old drum. The state's already got Hartford fatigue from investing in a Convention Center--a dying industry! Why didn't we build a parking garage instead?! The state has a huge hand in this. I blame them like 90%. But we don't have control over the state, so let's exercise what control we do have. The only thing anybody prefers about the suburbs is free parking. That's it. They go there b/c of the cost of land and of parking. All things being equal, I think the preference would be to be able to work downtown b/c of the restaurants, environment, etc. So make all things equal; match the suburbs and the businesses will not only stay--if they stay, downtown will continue to improve. If it improves then Hartford can charge a premium b/c there are reasons to stay in the city that make it worth paying to do so.

Look at NYC ... corporate headquarters left in droves until Giulianni. Rent was actually cheaper in Manhattan than at Queens in the mid-90s. New York had Hartford's problems on an even larger scale, and its reputation was bad internationally. People forget that many had absolutely given up on New York. I remember when my parents wouldn't ride the subway. Yes Hartford is smaller, but we have to employ the same methods on our scale. Be business friendly, reform the schools, improve policing, lobby the state. We have to stop shaking our heads and pointing fingers at the state. We have to operate under the assumption that the state will always work against us, and then figure out how to best proceed.

[HartfordTycoon]

I agree with you ... and it's totally frustrating. But we need to think out of the box rather than bang the same old drum. The state's already got Hartford fatigue from investing in a Convention Center--a dying industry! Why didn't we build a parking garage instead?! The state has a huge hand in this. I blame them like 90%. But we don't have control over the state, so let's exercise what control we do have. The only thing anybody prefers about the suburbs is free parking. That's it. They go there b/c of the cost of land and of parking. All things being equal, I think the preference would be to be able to work downtown b/c of the restaurants, environment, etc. So make all things equal; match the suburbs and the businesses will not only stay--if they stay, downtown will continue to improve. If it improves then Hartford can charge a premium b/c there are reasons to stay in the city that make it worth paying to do so.

Look at NYC ... corporate headquarters left in droves until Giulianni. Rent was actually cheaper in Manhattan than at Queens in the mid-90s. New York had Hartford's problems on an even larger scale, and its reputation was bad internationally. People forget that many had absolutely given up on New York. I remember when my parents wouldn't ride the subway. Yes Hartford is smaller, but we have to employ the same methods on our scale. Be business friendly, reform the schools, improve policing, lobby the state. We have to stop shaking our heads and pointing fingers at the state. We have to operate under the assumption that the state will always work against us, and then figure out how to best proceed.

[Whaler0718]

I agree NY is a tough comparison, and I also agree that the city isn't solely responsible for its woes. The state's ridiculous property tax structure is one thing; classic American sprawl is another (of course it has been fueled by 1, but I think it's also part of a national trend. And I'll hold reservation on the CCC since it's standing, and since it is a fabulous venue. I certainly hope you're right that it'll work. I also think it's fair to say that Perez has done some good, but much of that, I fear, has been dumb luck. That said, as I ponder whom to vote for in the next election (chances are I won't even have a chance because I'm a registered Republican and can't participate in the make-or-break Democratic primary), I will still struggle b/c as you said, Perez is 50/50. He is absolutely mediocre. But mediocre is better than horrible; and horrible is a real possibility.

[MadVlad]

He is absolutely mediocre. But mediocre is better than horrible; and horrible is a real possibility.

[HartfordTycoon]

I agree NY is a tough comparison, and I also agree that the city isn't solely responsible for its woes. The state's ridiculous property tax structure is one thing; classic American sprawl is another (of course it has been fueled by 1, but I think it's also part of a national trend. And I'll hold reservation on the CCC since it's standing, and since it is a fabulous venue. I certainly hope you're right that it'll work. I also think it's fair to say that Perez has done some good, but much of that, I fear, has been dumb luck. That said, as I ponder whom to vote for in the next election (chances are I won't even have a chance because I'm a registered Republican and can't participate in the make-or-break Democratic primary), I will still struggle b/c as you said, Perez is 50/50. He is absolutely mediocre. But mediocre is better than horrible; and horrible is a real possibility.

[MadVlad]

I wish Dr. Bob Painter would run....

[drc72]

I agree with that completely. I'm not saying he's doing a good job and that we don't need a change. I think we do. I'm just saying all of the bad things that happen are not solely his fault. These issues are all way more complicated than that. I wish it were that simple honestly that we could pin everything on one man.

drc, please tell me with what tools at his disposal was he to do this. You seem to be under the misguided impression that the city has deep pockets and an abundance of resources to throw at companies. The city is not in a position to offer the type of financial incentives it would have taken. Trust me. The only entity that really could have helped is the State and Governor's office, who probably could still help. But she won't and the state doesn't care because they are only moving to Bloomfield. Metlife doesn't want to be Downtown. It's that simple. Same goes for the corporate owners of WFSB and ING. They all want to move to the suburbs. That's the first choice. Hartford would have been a back up plan for all of these companies. WFSB announced they were looking around before they accepted the deal that Perez offered and then reneged. Who's fault is that? Please, please explain.

[drc72]

As always you make a lot of sense, but if I'm reading your post correctly a lot of what Perez could offer would come by the way of begging the state for more support so that we can lower taxes and cutting services for city residents so that you can give tax breaks to large corporations. I'm not for that. It's not Hartford's fault that the property tax system is the way it is and Hartford get's screwed with a high mill rate. We have tons of untaxable land and I don't really see where social services should be reduced. That means high taxes to pay for needed services. We need more cops and cleaner streets, all of this costs even more money meaning more taxes. I just don't completely follow the lower taxes, cut services, beg the state strategy that you seem to be advocating. So I do see this a bit differently than you. I don't see a realistic solution for many of our problems to be honest. We need to get the state to kick in for large improvements to the city and get Front Street and the new Arena built. Things within our control. We do not control the way corporate America does business, we have way more control over what residential and entertainment options we are putting into the city to make it more attractive.

The state should step in here and offer a kick ass incentive package if they care about this to keep Metlife Downtown. I bet they could pull it off. Hartford doesn't have anything to give away to Metlife that would compensate for the parking cost, taxes, etc. That's the issue as I see it. Not one man's fault.