By James Caldwell, Torch assistant editor

According to government records in Connecticut, WWE has received nearly $10.0 million in state tax credits for their production of WWE TV programming in the state.

WWE is fourth out of 78 "production companies" in Connecticut that have received tax credits, according to a report by the Fox affiliate in Hartford. WWE received 14 disbursements in 2009 for productions of Raw, Smackdown, and "The WWE Experience."

The news of how much WWE has received from the state of Connecticut has become a story due to WWE cutting ten percent of its corporate staff in 2009 despite receiving the hefty tax credit.

A spokesperson for Richard Blumenthal, the Democratic opponent of former WWE CEO Linda McMahon in the state's Senate race, is labeling it an indictment of McMahon's character.

"In one of her company's most profitable years, when she took home $46 million, she still accepted millions in tax credits meant to create jobs, but laid off 10 percent of her workers," said Mindy Myers, Blumenthal's campaign manager.

In response, WWE spokesman Robert Zimmerman offered some news that WWE has hired "approximately 55 workers" since 2009 to "make up for those laid off."

Zimmerman did not disclose how many of those are corporate hires in Connecticut. According to the report, he said the "overwhelming majority" of new hires were in Connecticut and WWE "plans to hire more."

WWE also points to having the responsibility to create as much return on investment for their shareholders by taking advantage of available tax credits. WWE also receives a tax credit in Louisiana for the filming of WWE movies in New Orleans.

"WWE, like every other public company, has a duty to its shareholders to take advantage of approved tax credits, just as other movie and television producers such as ESPN/ABC and GE/NBC," Zimmerman said. "The tax credits that have been awarded to WWE have helped the company add approximately 55 jobs since the January 2009 layoffs."

Link: The full story can be read on ctnow.com.

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