The Connecticut Business & Industry Association is the voice of business in Connecticut, with thousands of member companies championing change at the State Capitol, shaping debate about economic competitiveness, and fighting for a better future for all.
Incentives the creation of new jobs and increases employment in the state.
Creates an earn-as-you-grow incentive program for businesses to expand in or move to Connecticut. Businesses that create and maintain 25-plus full-time, well-paying jobs are eligible for 25% income tax rebate, or 50% if also located in an opportunity zone or distressed municipality.
Modernizes the state’s occupational licensing system, including for military spouses. Transitions additional licenses to an online renewal system, allows all classroom training to be completed through online courses, expedites the process for recognizing licenses conferred by other states, expands access to on-the-job training, and clarifies and limits which criminal convictions can bar applicants from a license.
Directs DECD to establish a program in which graduates of Connecticut higher education institutions can segregate their income tax liability (a maximum of $2,500 per calendar year) for up to 10 years after graduation to be used to buy their first home in the state.
Establishes a tax credit for businesses that hire formerly incarcerated individuals.