Jobs Bill Awaiting State Senate’s Approval
Expanding on parts of last fall’s Jobs Session and including some new concepts, this year’s jobs bill (SB 1) is now awaiting action by the Senate.
Among the new initiatives contained in the Commerce Committee proposal are those promoting tourism and Connecticut-made products.
SB 1 also expands eligibility for employers who want to take advantage of the Department of Community and Economic Development's Small Business Express Program.
The bill allows employers of up to 100 employees to apply for low-interest loans, a grant program, and new-hire tax credits, through the Express.
The bill also expands the “First Five” program into the “First Ten,” with substantial financial incentives for companies that create 200 jobs. Foreign companies looking to locate jobs in Connecticut will be given preference.
Also included in SB 1 is a measure providing grant money to employers who hire combat veterans returning from Iraq and Afghanistan.
CBIA encourages lawmakers to pass SB 1 because it keeps positive momentum going after last October's bipartisan jobs bill.
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