State Representatives Rosa C. Rebimbas (R-70) today praised passage of a bipartisan jobs bill that will spur business growth and bring new jobs to Connecticut.
During a special legislative session to focus on jobs, the legislature overwhelmingly passed H.B. 6801, An Act Promoting Economic Growth and Job Creation in the State by a vote of 147 to 1.
Since the end of the regular session in June, Rep. Rebimbas has toured numerous Naugatuck Valley businesses to get a first-hand look at Connecticut’s business environment and the impact of legislation on the daily operations of these vital small businesses. Many of the ideas discussed during those tours, including reducing the business entity tax and providing job training subsidies, made their way into the final jobs bill.
“With provisions to provide funding for manufacturing job training, loan credits for small companies, matching employment grants for businesses that hire currently unemployed workers, and $10 million a year for vo-tech school programs, among others, this legislation will provide much needed assistance and bring down Connecticut’s high rate of unemployed and underemployed,” Rep. Rebimbas said.
Connecticut’s unemployment rate has hovered around 9% for about 2 years.
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:
o Revolving Loan Fund – for small businesses.
o Job Creation Incentive Program – for small stable businesses looking to expand employment.
o Job Creation Matching Grant – for small stable businesses looking to expand.
Step Up – $10 million a year for employee training programs
o $5 million a year for employee training targeted at unemployed low-income people in high unemployment areas.
o $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:
o 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.
o 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 business to expand and hire new workers, and provides $340 million to the Manufacturing Assistance Act (MAA) over the next two years.
