Small Steps on Economy

State lawmakers approved a few measures that, while not strong enough to overcome the impact of new tax increases and mandates, could help increase Connecticut’s competitiveness.
Brownfields development
Lawmakers approved a proposal (HB 6526) to make cleaning up and redeveloping abandoned or contaminated brownfields a more attractive investment for developers. Several members of CBIA’s Environmental Policies Council were instrumental in drafting and negotiating the final language of the bill.
First Five
The governor’s initiative (SB 1001) will provide financing assistance for five new or expanding companies if they agree to create at least 200 new jobs by July 1, 2013, or to invest $25 million in their business and create 200 new jobs within the next five years.
Energy, Environment merge
A new state agency will consolidate the management and oversight of energy and environmental policies in Connecticut. Among other things, under SB 1243, the new Department of Energy and Environmental Protection (DEEP) will focus on reducing ratepayer costs and creating jobs.
Bradley governance
With the ultimate hope of strengthening Bradley International Airport’s economic competitiveness, SB 1003 creates a nine-member Connecticut Airport Authority to replace the current Bradley board of directors. Representatives from both the public and private sectors will serve on the authority.
Jobs Roundtable
Creation of a Manufacturing Reinvestment Account is part of the Majority Leaders’ Job Growth Roundtable bill, HB 6525, which gained final approval from the Senate this week. Also included is an expansion of the Innovation Network statutes to promote technology-based economic development; and creation of a “Learn Here, Live Here” program to encourage graduates of public higher education in Connecticut to invest in a first-time home buyer’s account.
For more information, contact CBIA’s Bonnie Stewart at 860.244.1925 or bonnie.stewart@cbia.com.