Connecticut Senate Bill SB00408

Connecticut 2010 Regular Session

• Introduced: 3/4/10
• Refer: 3/4/10

Caption

An Act Concerning The Administration Of Bradley International Airport.

Impact

The bill introduces a tax credit for businesses that occupy properties within the airport development zone, conditional on meeting employment thresholds. Specifically, companies can receive a tax credit of thirty percent for hiring between 25 to 150 new employees, while a credit of fifty percent is available for those employing more than 150. This financial incentive is intended to stimulate job growth and provide ongoing economic benefits to the municipalities involved, thereby increasing their revenues through business activities in the development zone.

Summary

Senate Bill 00408 establishes an airport development zone that spans specific census tract blocks in Windsor Locks, Suffield, East Granby, and Windsor. This new zone aims to incentivize economic growth and development around Bradley International Airport. By creating a structured area designated for businesses, the bill seeks to attract new investments and enhance the surrounding economy by developing infrastructure and supporting facilities within the zone.

Contention

Some points of contention surrounding SB00408 may arise regarding the impact on municipal authority and existing tax regulations. Opponents may argue that by offering substantial tax benefits to new businesses entering these areas, existing businesses could be disadvantaged, potentially leading to an uneven playing field. Additionally, concerns about the long-term effectiveness of such incentives in truly boosting employment versus creating temporary or shifting job positions might be raised, particularly if existing employees are merely relocated from other areas within the state. Overall, while proponents advocate for the economic potential of the bill, discussions may focus on ensuring a balanced and fair approach to local business development.