Connecticut Jobs Bill Passed Easily

It took a while for Connecticut legislators to work out the details of the jobs bill but it only took one day in Special Session to pass it Wednesday night. The vote in favor of the $626 million bill designed to spur job growth in Connecticut was almost unanimous.

Norwich Rep. Chris Coutu, who is campaigning for U.S. Rep. Joe Courtney’s Second District seat in Congress, and Sen. Kevin Witkos of Canton, both Republicans, were the only two lawmakers to vote against it.

Gov. Dannel P. Malloy, who was expected to sign the bill into law today, thinks the package will go a long way toward creating jobs, spurring innovation, and making the state more competitive. The proposal, he said, was the result of a true bipartisan effort.

“I’ve spoken a lot about reinventing Connecticut, and I think Democrats and Republicans working together is one illustration of that reinvention,” Gov. Malloy said. “How often do you see this happening in Washington? Putting people back to work and making Connecticut more business-friendly aren’t goals owned by any one party, and they aren’t owned by any one branch of government –no single person has cornered the market on good ideas."

Lawmakers comment

“This legislation focuses on initiatives designed to create a climate in Connecticut that is ripe for maintaining, attracting and creating jobs,” said state Rep. Tom Reynolds, D-42nd. “The bill received bipartisan support that shows we can work together and achieve positive results to help create and retain quality jobs in Connecticut.”

“We took giant steps today in the State of Connecticut to cut taxes for small businesses, eliminate burdensome regulations, give employers the loans and incentives they need to expand and hire, and move students from the classroom to the factory floor as quickly as possible,” said Senate President Donald E. Williams, Jr. “This is a solid, bipartisan jobs victory for the people of Connecticut.”

"This proves that when there is a free and open exchange of ideas across the political aisle we can do good things that are in the best interests of all of Connecticut," said House Minority Leader Larry Cafero. "Our work does not end with this successful effort, it begins. Small businesses, the engine of job creation in Connecticut, will benefit greatly from this legislation."

Highlights of the Bill

To help small businesses: A newly-created Small Business Express Package and other initiatives make $180 million available to support small business growth, with job creation incentives, financial assistance for small businesses, and training assistance. It includes small business loans and grants that range from $10,000 to $250,000.

To make it easier to do business in Connecticut: The jobs bill shortens the timeframe for obtaining critical permits, such as those required by the Department of Energy and Environmental Protection, eases burdensome regulations, and creates a new e-business portal to make it easier for companies to access programs and services.

To encourage innovation and entrepreneurship: The package includes $25 million for startup company loans, investments and matching grants and aims to increase the number of “angel” investors in high-tech and emerging-industry companies by lowering the minimum investment from $100,000 to $25,000.

To ensure the workforce has the skills that match business needs: The bill includes $20 million for manufacturing technology programs in vocational and technical schools and community colleges. It also lays out workforce strategies, both short-term and long-term, to meet private sector demand.

Jackson Lab Funds Approved

Legislators also voted in favor of a more contentious bill to provide $291 million in state funding to bring Jackson Laboratory to the University of Connecticut Health Center. According to a press release issued by Gov. Malloy, the deal is, “A collaborative effort between Jackson Laboratory, the State of Connecticut, the University of Connecticut and Yale University, the Jackson Laboratory for Genomic Medicine."

The overall goal is accelerate the development of new medical treatments tailored to each patient’s unique genetic makeup.

Permanent jobs associated with the facility total more than 6,800 over 20 years, including 300 direct jobs within 10 years and 600 direct jobs within 20 years, according to the Governor's office.

The total 20-year capital and research budget for the institute is projected to be $1.1 billion, with Jackson Laboratory providing $809 million through federal research grants, philanthropy and service income, and the State of Connecticut contributing $291 million ($192 million in a secured construction loan and $99 million in research partnership participation).

For every $1 the state is spending on this project, Jackson Laboratory will spend $3, states a press release issued by the governor's office.

Note: This article is based on information provided in press releases from the Governor’s office released after the vote late last night.