Malloy expresses doubts UBS will keep 2,000 jobs in 2011 tax incentive agreement with state

Gov. Dannel P. Malloy says he doubts financial services giant UBS will keep 2,000 jobs in Stamford over five years as part of its 2011 agreement in exchange for $20 million in state incentives.

In a meeting with the editorial board of Hearst Connecticut Media on Monday (http://bit.ly/10hnd5s), the governor said he doesn't think UBS will "meet the full five years," adding he has doubts.

UBS declined to comment.

If it fails to keep all the jobs, UBS must repay the $20 million forgivable loan and $1.5 million in interest.

Malloy's expression of doubt raised the key issue of jobs in his re-election campaign.

Republican challenger Tom Foley quickly criticized Malloy's economic development policies and said such state aid is corporate welfare that fails to create or keep jobs.

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Information from: Connecticut Post, http://www.connpost.com