Business
Connecticut’s Lamont concerned Mamdani may dull NY finance edge
Connecticut Governor Ned Lamont said he’s a “little bit” worried about the potential impact on his state should fellow Democrat Zohran Mamdani win the mayor’s race in New York City and follow through on his agenda.
Lamont acknowledged concerns from the finance industry about Mamdani in an interview with Bloomberg Television at the Greenwich Economic Forum. Connecticut serves as a hub to the hedge fund industry and is home to many commuters.
“New York City is the financial capital of the world — and we’re a big piece of it here,” Lamont said. “I want to make sure that the next mayor understands how important New York City is to that system and that’s important to Connecticut.”
Mamdani, a self-described socialist who won the Democratic primary, leads the race on pledges for rent freezes, free child care and open government-run grocery stores. But he’s rattled Wall Street, the real estate industry and other segments of the city’s business community with his plans to raise taxes on corporations and the wealthy to help pay for his agenda.
Lamont said he thinks the finance industry appreciates the stability in Connecticut as well as the state’s slightly lower taxes. He added that Democratic governors are leading his party, saying they have to “get stuff done.”
Connecticut has the second highest level of hedge fund capital in the US, after New York City, according to AdvanceCT, an economic development organization in the state.
Governors have to balance the budget, Lamont said. “They have to do it on time. Governors can’t shut down a government. Governors are sort of the opposite of what you see going on in Washington.”
