The state Senate's jobs-related bill (SB 1) has been approved by a third legislative committee and now heads back to the full Senate for an expected vote.
This week the Labor Committee approved SB 1, which expands on parts of last fall’s Jobs Session and includes some new concepts, such as initiatives to promote tourism and Connecticut-made products.
Among many other things, the proposal also:
- Allows employers of up to 100 employees to apply for low-interest loans, grants, and new-hire tax credits through the Small Business Express Programof the Department of Community and Economic Development.
- 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.
- Provides grant money to employers who hire combat veterans returning from Iraq and Afghanistan.