Bill > HB07165

This bill proposes several modifications to Connecticut's economic development statutes that address multiple areas of state economic policy. First, it establishes a program for the Department of Economic and Community Development to sell Connecticut brand merchandise and advertising space, with proceeds going to the Tourism Fund. The bill revises workforce development incentives for employers who hire individuals with intellectual disabilities, expanding eligibility and adjusting grant amounts based on the percentage of such employees. It modifies relocation requirements for businesses receiving state financial assistance, stipulating that businesses cannot move out of state for ten years without repaying assistance and paying a penalty. The bill also allows the state to provide financial support to AdvanceCT Foundation, Inc., and expands the types of real property the department can sell or lease to include cultural and historical attractions. Additionally, the legislation clarifies definitions of business organizations and financial assistance, and provides more flexibility for the department in managing economic development programs. These changes are designed to support Connecticut's economic growth, workforce development, and business retention efforts, with most provisions set to take effect on July 1, 2025.

Business and Industry

Commerce Committee (J)

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB07165&which_year=2025