September 27, 2013/News

CT Dems Executive Director Jonathan Harris Calls Out Mark Boughton’s Hypocrisy

(Hartford, Connecticut) — This afternoon, Connecticut Democratic Party Executive Director Jonathan Harris responded to Mark Boughton’s ludicrous statement attacking today’s bonding commission vote to create jobs in Bridgeport.

“Mark Boughton can’t have it both ways- he praises investments in Danbury, but chastises job creation efforts in all other Connecticut communities.  That’s not leadership for Danbury and it’s certainly not leadership for the State of Connecticut.  One of the reason’s Danbury is doing reasonably well is because of Governor Malloy’s job creation investments, just like the one approved today for Bridgeport.  Mr. Boughton should save his nonsensical ramblings for his Twitter page.”

Background: Key point bolded

DANBURY — A New York City financial firm is expected to announce Wednesday it will open a new subsidiary here that represents a $13 million investment, The News-Times has learned.

Sources confirmed Tuesday that Gov. Dannel P. Malloy and executives of NewOak Capital will announce a deal Wednesday that will allow the company to establish NewOak Credit Services at theMatrix Corporate Center.

James Frishling, the company’s president and chief executive officer, confirmed he will visit the city Wednesday to announce some “exciting news about good things to come” with NewOak and the state of Connecticut.

He declined further comment until Wednesday’s announcement.

Sources told The News-Times on Tuesday that NewOak plans to invest $13 million in the new enterprise and will receive a $3 million loan from the state Department of Economic and Community Development.

The loan, sources said, would be forgivable if the company meets its projections of hiring up to 50 new workers in the first year and up to 100 workers in the first three years.

NewOak Capital is a financial advisory company whose clients include global banks and insurance companies. The firm manages more than $3 trillion in assets.

Mayor Mark Boughton said Tuesday that the announcement is an important economic development initiative for the city, and local officials have been working with the corporate center in recent months to help move the deal forward.

“This is a major investment in the city that’s going to create lots of good-paying jobs,” he said.

NewOak had been looking at several locations that have been “aggressively courting” the company, including White Plains, N.Y., before settling on Danbury, according to Stephen Bull, president of the Greater Danbury Chamber of Commerce.

“We met with the company early on and they seem to be extremely progressive and want to make a commitment to Danbury and the region,” Bull said. “I’m pleased to hear the deal has been closed. The company is poised to hire both from our local employment rolls and from our universities.”

He added that “it’s always nice when we can bring a company from New York City into Danbury.”

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