State Representatives Livvy R. Floren, R-149th District, and Michael L. Molgano, R- 144thDistrict, today applauded passage of a bipartisan jobs bill that will spur business growth and bring new jobs to Connecticut.
During a special legislative session where jobs was the singular focus, the legislature overwhelmingly passed a multi-layered jobs bill which is a first step in getting Connecticut back to work.
Yesterday Governor Malloy held a press conference in Stamford to announce the move of NBC Sports Group to the old Clairol site. This makes the NBC Sports Group the 4th participant in the “First Five” program which provides incentives to companies that bring jobs to Connecticut.
Rep. Floren said, “It is exciting to have a major network choose Stamford as its new home. This is a result of new and expanded pro-business programs which reward companies for staying in Connecticut and growing their workforce which also brings down Connecticut’s high rate of unemployed and underemployed.”
Connecticut’s unemployment rate has hovered around 9% for about 2 years with zero private sector job growth for more than 20 years.
“Over the last few months the governor focused his efforts on large companies, and today’s bill was timely because so many small and mid-sized business owners worried that many in the legislature had forgotten about them,” Rep. Molgano said. “We’ve started to address crucial issues at Connecticut companies face every day. This is a positive step, but we’ve got a lot more to do.”
The package of bi-partisan reforms negotiated between the Governor’s office and legislative Democrats and Republicans includes:
Small Business Express Package – $50 million a year for three programs:
- Revolving Loan Fund – for small businesses.
- Job Creation Incentive Program – for small stable businesses looking to expand employment.
- Job Creation Matching Grant – for small stable businesses looking to expand.
Step Up – $10 million a year for employee training programs
- $5 million a year for employee training targeted at unemployed low-income people in high unemployment areas.
- $5 million a year for programs geared toward manufacturers.
Streamlining the Permitting Process – Hiring consultants to perform a LEAN analysis at DAS, DECD, DOT and DEEP to develop systemic changes at these agencies to permitting process, and enforcement for businesses; allow for pre-permitting in some instances. Also:
- Job Creation Tax Credits which consolidates and increases existing credits to $500 per month for each new job created by a small business; $900 per month for hiring unemployed, disabled or veterans.
- Manufacturing Reinvestment Account increases eligibility from 50 to 100 companies, and increases tax-exempt reinvestment.
Job Training – $10 million per year for two years to establish or expand manufacturing technology programs at three community colleges and $10 million per year for two years to establish and/or expand manufacturing technology programs at three vo-tech schools.
The bill passed today also includes provisions that create a program for Airport Development Zones which will be a boon for the Waterbury-Oxford Airport and surrounding community, authorization of a second “First Five” program to provide incentives to established Connecticut businesses to expand and hire new workers, and provides $340 million to the Manufacturing Assistance Act (MAA) over the next two years.