October 27, 2011

REP. SUSAN JOHNSON VOTES YES ON JOBS
Jobs Bill Slashes Red Tape & Invests in Small Businesses

State Representative Susan Johnson voted for bipartisan legislation today that improves Connecticut’s ability to grow and retain jobs.

“Today’s bill is good news for Windham residents and our small business owners. It increases state support for smaller companies and provides tax credits to firms that hire new workers—and firms that hire veterans or the unemployed will be given additional credits, ” said Johnson.

Johnson said one of the key components of today’s Jobs Bill (HB 6801) is the Small Business Express Package making $50 million a year available to small businesses through incentives, grants and loans. It also shortens the time it will take businesses to get permits from the state.

The Jobs Bill also contains short and long-term strategies to help ensure Connecticut’s workforce matches business demand by aligning programs at the state’s vocational high schools, community colleges and universities with the needs of employers, including manufacturing and technology companies.

Some of the key provisions of the Jobs Bill include:

• Reducing the business entity tax
• Increasing the tax credit for companies which hire new workers
• Extending the“First Five” program  to five additional companies
• Remediating state-owned industrial sites/brownfields  to make them attractive to developers
• Investments in local roads and bridges
• Replenishing funds for the Manufacturing Assistance Act (MAA)
• Expanding the small town Main Street commercial centers improvement initiative

In addition, the legislature today approved the deal with Jackson Labs to build a $1.1 billion, state-of-the-art research facility at the UConn Health Center campus in Farmington. The State of Connecticut will invest $291 million and Jackson Labs will raise the balance of $860 million for the project.

According to the state Department of Economic and Community Development (DECD), the project is expected to create over 660 new positions at Jackson Labs in Farmington within 20 years. DECD estimates more than 4,600 bioscience jobs would be generated through spin-off companies, and another 2,000 would be added to local service and area retail stores. The project would yield more than 840 construction jobs as well. Most importantly, it represents a critical step in establishing Connecticut as a global hub for genomic research, attracting companies and world-class minds dedicated to the pursuit of diagnostic and therapeutic medical breakthroughs.