Brought to you by WBIW News and Network Indiana
Last updated on Friday, June 12, 2015
(INDIANAPOLIS) - Governor Mike Pence invited Connecticut businesses, including General Electric, Aetna Inc. and Travelers, to move to Indiana in a full-page advertisement in Wednesday’s The Wall Street Journal in response to Connecticut’s latest tax hike.
"Businesses in Indiana grow with confidence, while businesses in high-tax states like Connecticut operate in fear of seeing their piggy banks raided," said Pence. "On behalf of 6.7 million hardworking Hoosiers, we are constantly meeting with companies around the world that are choosing Indiana and enjoying an instant spike in earnings. With Connecticut taxes skyrocketing, it's important to remind businesses that Indiana is here to help as a state that works."
The newspaper ad, which appeared in The Wall Street Journal in New York, New Jersey and Connecticut, reads, "GE, Aetna and Travelers: We offer our support in the wake of Connecticut's looming tax increase, because friends don't let friends pay higher taxes" and highlights AStateThatWorks.com, a website that underscores the numerous reasons why Indiana is a state that works for business. The creative behind the advertisement was developed by in-house talent.
Today's ad follows on the heels of the Connecticut General Assembly's passage last week of a $40.3 billion biennial state budget that includes nearly $2 billion in a variety of tax increases over two years, including an estimated $700 million increase in taxes on businesses. The Connecticut legislature has increased taxes on companies five times since 2011, ranking the state's business tax rate now as the fifth highest in the country.
In response to Connecticut's latest tax hike, some of the state's biggest corporations, including GE, Aetna Inc. and Travelers, have publicly protested the increases and have threatened to leave the state. Governor Pence sent a letter to each of these companies' chief executives inviting them to consider the Hoosier State for their business.
The Wall Street Journal ad is part of the Indiana Economic Development Corporation's (IEDC) ongoing marketing campaign, A State That Works. Launched in May 2013, the campaign is designed to draw attention to the numerous reasons why Indiana is a state that works for business. To date, AStateThatWorks.com has had more than 110,000 visitors and its digital advertisements have been viewed more than 34 million times.
While Connecticut is continually ranked as one of the most burdensome states for business, Indiana shines as home to one of the strongest business climates in the nation. With its pro-business, low-tax environment, Indiana most recently finished best in the Midwest and sixth nationally in Chief Executive magazine's 2015 Best and Worst States for Business. Meanwhile, Connecticut ranked 45th.
About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana's economic development efforts, focusing on helping companies grow in and locate to the state. Governed by a 12-member board chaired by Governor Mike Pence, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.
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