Gayle Slossberg

Slossberg Hails Passage of Landmark Bill to Grow Jobs, Expand Businesses and Boost Economy

Legislation includes employment & training program that targets retuning post 9/11 combat veterans

State Senator Gayle Slossberg (D-Milford) announced passage of a landmark Jobs Bill that will bolster the economy by supporting small businesses, growing jobs and fostering pride in Connecticut-made products and state tourism treasures.

The priority legislation of today’s special session was the highly anticipated Jobs Bill, which will expand state workforce and small business development programs, provide incentives to hire post-9/11 combat veterans, promote Connecticut’s economic and cultural assets, and seek to reward businesses that are willing to relocate jobs from overseas back to Connecticut.

“This bill shows that we in Connecticut mean business about nurturing job growth,” Sen. Slossberg said. “Our jobs programs that we created in October are already making a difference in the lives of small business owners and job seekers around the state. Of all the expansions and new initiatives outlined in this bill, I am particularly pleased with jobs program targeting returning combat veterans. One of the wisest investments we can make as a state is in the talented military men and women who served in Iraq and Afghanistan.”

One of the hallmarks of the October Jobs Bill was the Small Business Express program, which set aside $100 million in state loans and grants over two years for small manufacturers, especially those in precision manufacturing, business services, green and sustainable technology, and bioscience and information technology.

The new Jobs Bill:

• Expands the existing Small Business Express Program to an estimated 3,600 additional state businesses. Under current law, a business qualifies for Express loans and grants if it employs 50 or fewer people; this bill raises that employee ceiling to 100 employees.
• Establishes the Unemployed Armed Forces Member STEP-UP program (Subsidized Training and Employment Program) with grants to subsidize a businesses’ cost of hiring unemployed veterans during their first 180 days (about six months) on the job. The bill authorizes $10 million in bonds for the program, with $5 million available upon passage and the balance available in Fiscal Year 2014.
• Creates “Connecticut Made” and “Connecticut Treasures” programs to promote products made in Connecticut and promote the state’s cultural, educational and historic attractions. Part of the bill provides for the design, planning, and implementation of a multiyear, state-wide marketing and advertising plan that includes television and radio advertisements showcasing Connecticut-made products and the advantages they offer.
• Seeks to bring home overseas jobs to Connecticut by allowing the state Department of Economic and Community Development to give a preference under the “First Five Plus” program to companies that relocate jobs from overseas to Connecticut; assistance includes loans, tax incentives and other forms of economic development that create jobs and invest capital within a certain timeframe.