HARTFORD — The state Senate approved a bill last week meant to expand and build upon job-generating and economic development initiatives enacted last fall.
“This bill advances last fall’s job-generating initiatives — among its provisions is an adjustment to the package of small business incentives we enacted that are already bearing fruit,” state Sen. Joseph Crisco (D-17) said in a news release. “Many of the tax credits and hiring incentives approved then applied only to businesses with 50 employees or fewer; this year we expanded that to businesses with 100 employees or fewer. The straightforward logic behind this: when more small businesses are eligible for economic stimuli there are improved chances for economic growth among them.”
The bill, “An Act Concerning Jobs and the Economy” was approved last week and advanced to the House of Representatives for its consideration.
Crisco said the vote coincided with Connecticut’s lowest unemployment rate in three years. Since January, the release stated, Connecticut has added 10,500 new jobs.