Senators Williams and LeBeau welcome CIGNA expansion and hundreds of new high-quality jobs: video link attached
Slap, Derek
FOR IMMEDIATE RELEASE CONTACT: Derek Slap
July 12, 2011 (860) 240-8641 / 519-9672
Senate Democrats Say Job-Generating Legislation Already Paying Off
Senate President Williams and Senator LeBeau welcome new insurance jobs to Connecticut, expect additional private-sector job growth
Hartford: Senate President Donald E. Williams, Jr. (D-Brooklyn) and Senator Gary LeBeau (D-East Hartford) joined Governor Dannel P. Malloy and other state officials at a news conference today to announce that the company is adding hundreds of jobs to its Bloomfield headquarters. The announcement – which calls for the creation of at least 200 jobs - is evidence that the “First Five” jobs creation program, passed during the 2011 legislative session, is working.
The new law promises substantial state financial assistance to the first five new businesses in Connecticut that create at least 200 new jobs by July 1, 2013 or invest at least $25 million and creates at least 200 jobs within the next five years.
“There was no greater priority this legislative session than helping Connecticut grow high-quality jobs,” said Senator Williams. “That’s why we worked with Governor Malloy to create a number of job-generating initiatives – including the First Five Program. The retention of thousands of jobs, and creation of hundreds more, will have a profound impact on the local economy and send a message to the rest of the country – Connecticut is open for business.”
“When we passed this bill in the Senate I predicted that the additional incentives would give us the potential for a series of high-profile homeruns,” said Sen. LeBeau, who is Senate chairman of the Commerce Committee. “This bill has clearly provided a lot of flexibility for the DECD commissioner to go out and make a big move for Connecticut. I’m thrilled they’re off to such a great start.”
Senate Bill 1001 – which passed with bipartisan support - exempts the first five large business projects from various legislative caps on financial assistance amounts. It also expands the Urban and Industrial Site Reinvestment Tax Credit from $500 million to $750 million, and increases the Job Creation Tax Credit from $11 million to $20 million.
The bill also requires the state Department of Economic and Community Development (DECD) commissioner to report to the Commerce and the Finance, Revenue and Bonding committees on the projects that receiving state assistance under this bill and indicate the number of jobs created and how they affect the economy. The reports are due on January 1, 2012, January 1, 2013, and September 1, 2013.
URL to video:
http://www.youtube.com/watch?v=rdNcDoOpTWI
Embed code for video:
<iframe width="425" height="349" src="http://www.youtube.com/embed/rdNcDoOpTWI?hl=en&fs=1" frameborder="0" allowfullscreen></iframe>
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