Bridgewater Associates

Pixabay

Republican lawmakers are questioning why a Connecticut commission voted to give millions of dollars to the world’s largest hedge fund, when state programs that serve vulnerable residents are being cut to bridge a state budget gap.

Jessica Hill / AP

Republican leaders in the Connecticut General Assembly are criticizing plans by Democratic Governor Dannel P. Malloy's administration to approve a $22 million loan and grant package for one of the world's largest hedge funds.

WSHU File Photo

The latest Quinnipiac University poll on the Connecticut Governor’s race finds more voters say Republican challenger Tom Foley would do a better job on the economy than Democratic incumbent Dannel Malloy.  

Foley has been attacking Malloy’s economic development policies. One attack focuses on the approval of state subsidies for Bridgewater Associates, the world’s largest hedge fund. The subsidies would have helped Bridgewater move its headquarters from Westport to Stamford.

A recent Foley web ad criticized Malloy for the move that eventually did not happen.

Even though the world's largest hedge fund, Bridgewater Associates, has decided to nix a state-backed $115 million deal to relocate to the site of Stamford's former boatyard, environmentalists and others are still concerned over the future of that 14-acre waterfront site. 

Stamford activist group Save Our Boatyard celebrated this past weekend Bridgewater Associates' decision to back out of a state economic development incentive package to relocate to a 14-acre waterfront parcel in the city's South End. That property, formerly known as Brewer's Yacht Haven had served as the city's boatyard for 100 years until its owner, developer Building and Land Technology, decided to tear down the boatyard in late 2011 and not renew the operator's lease. Maureen Boylan of the activist group says they're now focused on getting a boatyard rebuilt at the site.

Pages