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Winter 2011
Capitol address
Legislative Office Building
Room 3300
Hartford, CT 06106-1591
E-mail me here
On the Web
www.SenatorLooney.cga.ct.gov
Phone
Capitol: 860-240-8600
Toll-free: 1-800-842-1420
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A Bipartisan Approach
to Job Creation
In late October, we dedicated a special session of the legislature to job creation, and we approved new initiatives to jump-start Connecticut's economy.
 I am particularly proud of one aspect of a law called the “Step-Up Program.”. This initiative subsidizes part of a new employee's salary at a small business or a small manufacturer for several months, as long as that person was unemployed, lives in city with an unemployment rate higher than the state average or in a city of 80,000 people or more, and whose family income is less than 250 percent of the federal poverty level. This will ensure that some of our poorest and neediest residents get the jobs they need to get back on their feet and keep Connecticut's economy humming.
The new jobs bill also:
- Provides loans and grants for small business expansion because many private banks aren't lending
- Streamlines and expand the existing job creation tax credits from $500 to $900 per hire
- Subsidizes the hiring and training of certain unemployed workers for up to 6 months
- Cuts the $250 business entity tax in half beginning in 2014
- Streamlines state regulations affecting businesses
- Lowers the investment threshold for 'angel investors' to receive a tax credit
- Matches the curriculum of community colleges and technical schools with the needs of manufacturers
- Invests $50 million in shovel-ready bridge repair and replacement infrastructure projects
Learn more about the Jobs Bill.
Bioscience--A New Growth Industry for Connecticut
 In October we also made a historic investment in Connecticut's growing bioscience industry. Maine-based Jackson Laboratory conducted a nationwide search for a location to expand its operations, and chose Connecticut after learning of our investment earlier this year in rebuilding the UConn Health Center into a hub of bioscience activity.
The opportunities for collaboration between UConn and Jackson Labs are extensive and along with Yale-based research projects will form a nexus of biomedical advances in Connecticut. Permanent jobs associated with the facility are expected to total more than 6,800 over 20 years, including 300 direct jobs within 10 years and 600 direct jobs within 20 years.
After years of stagnant job growth, Connecticut now has a thriving new industry to call our own.
Learn more about the Jackson Laboratory for Genomic Medicine project.
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