In a lesson taught to me two years ago by the Sound Off Sister regarding profits, I was told thatPROFITS are not EVIL … that is the goal of any business owner, to make money. When Businesses make money it means that a business has money to spend. That money can be spent in a number of ways. Consider the following:
- Investing in new equipment
- Hiring new employee or employees
- Giving employees raises or other benefits
A company can do a number of things with the money in generates from the sale of its goods and or services. In return the company is free of restraints or restrictions on what it can do with its money, even if it mean that it ends up in the pockets of the business owner(s).
In a free-market, consumers decide what products and services we want. We decide who gets our
hard earned cash; although with the attack lately on large sodas and popcorn we have government beginning to choose for us.
So given the current economic situation here in CT, Dannel P. Malloy feels that its necessary to GIVE tax payer money to companies. But I ask myself why? Here is a list of Businesses that received state money, but notice the one thing they all have in common. They all either retain employees and or hire new ones. So if doing business in Connecticut is good, than why do we have to give companies money to stay open?
DBS Energy, Inc. of Berlin, an integrated energy service company that is investing company funds of $805,000 and receiving a matching grant of $99,600. DBS, which currently offers engineering services, construction support, management services, and training for high voltage electric utility facilities, is moving from a leased space to a purchased facility and expanding into the manufacture of solar power equipment. Funds will be used for fit-out and purchase of machinery and equipment. DBS will retain seven and hire for one new position.
FosterCo, LLC of Bridgeport, provides tax, accounting and professional education services, and offers classes through CT Works. FosterCo is investing $34,000 and is receiving a matching grant of $18,000 to expand its course offerings. The company is retaining two and adding one new hire.
Century Spring Inc. of Bristol, is a full-service manufacturer of high-quality custom springs and specialty fasteners. Century is receiving a $100,000 grant, matching the company’s funds. It is purchasing new machinery and equipment and a new building to consolidate three locations. Century Spring will retain 32 jobs.
Mutual Housing of South Central Connecticut of New Haven, constructs, develops and manages affordable housing units in greater New Haven and New London County. Mutual is investing $100,140 and receiving a $100,000 grant to make leasehold improvements to new office space, retaining 27 positions and adding five new hires.
Kat Burki Inc. of Westport, designs, produces and distributes high-end bath, boudoir and spa products. The company will combine $100,000 of its own funds with a $100,000 matching grant to invest in relocation to a larger facility and expanded production and to train new staff. Kat Burki is retaining three and hiring five new positions.