Why Does Connecticut Have a Department of Economic and Community Development?

 Why does Connecticut have the Department of Economic and Community Development?  What is their purpose in the state using Connecticut Taxpayers monies and have little if any accountability for their actions?  Do you they know really where the money they give businesses actually goes?  Is this money actually productive?  Can a full forensic audit take place of the money they gave out to businesses in the state?  How much money has been written off from failed businesses they gave money to?  Can they post this list publicly so Connecticut Taxpayers can see how much money was lost?

Or is this department yet another waste of Connecticut Taxpayers monies?  Think about why Connecticut must give free money to businesses in order either to move into the state and supposedly create jobs and or to retain businesses already in the state to keep jobs here?  Doesn't that tell you something about bad the state's economy is in order for state government to do that?  Over the past 30 years million upon millions of dollars has gone to companies to either stay in the state or possibly move in.  And what are the real results of this giveaway that in essence picks the winners and losers who are able to operate in the unstable and illogical Connecticut state economy?  

Connecticut has a host of economic issues that have been created mostly by years of unchecked Democrat party rule since the ill fated Weicker administration and the force feeding of a state income tax back in 1991.  30 years later here are the results of this one party ultra liberal rule.  The results include $150 billion dollars in short and long term debt along with unfunded liabilities.  The results include a $62,500 state debt per person that is one of the highest in the country.  The results include being one of the highest taxed states in the country.  The results include having still not recovered from the recession of 2008-09 nor in my opinion ever recovering from the recession of 1990-91.  The results include still one of the lowest level of job creation in the country despite the hundreds of million of dollars spent by the Department of Economic and Community Development.  The results include unchecked and deadly crime.  The results include an Executive Order Lamont administration that has used Connecticut Taxpayers monies for their own profits in their family hedge fund while rewarding Democrat political allies with jobs and other giveaways.  The results include a new $5 million dollar grant being given to a company that was owned by the Lamont family hedge fund to create an unreal cyber currency.  The results include Executive Order Governor Ned Lamont stating that it is easier to do business in Tennessee than in Connecticut.  

One can argue effectively that the Department of Economic and Community Development has wasted Connecticut Taxpayers monies.  One can argue effectively that the current 30 years plus of one party rule of the Connecticut Democrat Party has helped to lead Connecticut into a never ending economic nightmare of high taxes, authoritarian rule, senseless laws that protect criminals and encourage crime along with outright fraud, lies, deception, and a disregard for the state constitution. 

To try to buy jobs using Connecticut Taxpayers monies has not worked for 30 years now.  Connecticut with or without the Department of Economic and Community Development is basically in the same economic shape it was 30 years ago only now with an ever increasing debt load and unchecked state employee fixed costs for benefits, pensions and salaries.  State government spending is out of control and no amount of feel good giveaways that the Department of Economic and Community Development can offer will change this.  2022 is fast approaching and sadly the same economic failures and economic issues begin anew on January 1.  Transparency and full disclosure of the use of Connecticut Taxpayers monies should be the norm.  Maybe a complete overhaul of what Connecticut's state government looks like and how it operates should be the theme of the election of 2022.  Maybe a real political alternative can be offered in the upcoming election instead of the same stale and corrupted rhetoric of a failed Connecticut Democrat party gasping for its life via the unlimited cash of Executive Order Governor Lamont and his political hacks.   Enough is enough.

The Corruption of DECD

Connecticut's Department of Economic and Community Development (DECD) needs to go.  In the realm of trying to create new businesses and attract new businesses it has done little to help Connecticut's chronic recession and debacle of an economy.  It has wasted a great deal of Connecticut's Taxpayers money over the years. 
Some of the new scandals and wastes of money include a Suffield firm that received $3.5 million dollars in loans and still went bankrupt and the new allegations this week that were reported by the Yankee Institute's Marc Fitch (https://yankeeinstitute.org/2019/08/13/the-fitch-files-whistleblower-complaint-alleges-decd-gave-second-loans-modifications-to-delinquent-borrowers/) about a DECD employees complaint about companies that were delinquent with loans kept getting new loans.  For example Connecticut Casket Company received over $850,000 in three loans even though they were delinquent on the first and second loans.  They also received an initial $100,000 grant in 2012.
Other examples are found in Fitch's article highlight the other illegal loans that were made since the businesses were delinquent in their initial loans and or did not meet the job creation requirements that the grant or loan stated.  Also a 2017 State audit found issues with excessively high fees paid to third-party lenders for loans. 
To me what is going on at the DECD is fraud.  You can't make these types of loans in our banking system.  I have tried to read and reread the DECD Annual Report and in some areas it defies economic logic as to what Connecticut is spending on supposed new job creation.  If Connecticut was not so anti business and a high tax state it would not have to bribe companies to stay and or relocate to Connecticut.  And what business in their right mind would want to relocate to Connecticut with all of its economic problems and high taxes it has?  The DECD has done little to improve the state's economy and the results are found in Connecticut's chronic last and or bottom ranking in most economic and business categories.
The Connecticut Democrat Party's constant pay-to-play rules of doing business in the state including a total lack of oversight at the DECD have been a constant factor in the ruining of our economy.  While the nation prospers Connecticut continues its constant march into economic oblivion. 
Supposedly business savvy Governor Ned Lamont should actually show some leadership by dismantling the DECD and lowering taxes to achieve economic stimulation and growth in Connecticut.  The DECD does not make economic sense for the state as it just wastes Connecticut Taxpayer's monies on a daily basis.  And maybe someone in our state legislature would be dynamic enough to order a full forensic audit of this agency and clean it up to close it down.  The money spent on this agency could go to lowering taxes on Connecticut businesses and the laws of supply and demand could actually be seen once again in Connecticut.