Why Connecticut Wanted Bridgewater To Locate In Stamford

Why would a U.S. State give away almost a $100 million in incentives to Ray Dalio’s Bridgewater Associates, one of the world’s most successful hedge funds that managed 78 billion in assets? Moreover, those ‘incentives’ include a “forgivable” 10-year loan at 1 percent to Bridgewater Associates to help finance its two new buildings. According to this report in FINalternatives, Connecticut Governor Dannel Malloy took to Bloomberg Television to explain and defend his decision. The background to the decision was the need of Bridgewater Associates to move its 1225 employees, presently located across four different buildings in Westport, to one premises….