Job Layoffs

World's largest hedge fund gets aid package from Connecticut

A commission approved a $22 million loan and grant package on Friday to help the world's largest hedge fund upgrade and expand its offices despite questions about whether the deal makes financial sense for a state facing continued budget problems.

Democratic Gov. Dannel P. Malloy said he wished Connecticut didn't have to compete with other states like Massachusetts, New York, New Jersey and Rhode Island by offering money to keep or attract companies, but that was today's reality. He said this agreement with Bridgewater Associates will ultimately be a good investment for the state.

"If we are to win any of these competitions, then we have to participate in the same way...