Connecticut Senate Bill SB00224

Connecticut 2012 Regular Session

• Introduced: 2/23/12
• Refer: 2/23/12
• Report Pass: 3/22/12
• Refer: 4/2/12
• Report Pass: 4/10/12
• Refer: 4/17/12

Caption

An Act Increasing The Competitiveness Of Small And Medium Businesses Through Research And Development.

Impact

The passage of SB00224 is designed to directly impact the economic landscape by providing targeted support to smaller firms. This initiative will offer SMEs access to university resources, including facilities, equipment, and expertise from both the University of Connecticut and the Connecticut Center for Advanced Technologies. The bill appropriates a total of one million dollars from the General Fund for the fiscal year ending June 30, 2013, to lay the groundwork for this collaborative program. It aims to stimulate innovation, increase productivity, and ultimately create a more robust business environment in Connecticut.

Summary

SB00224, known as the Act Increasing the Competitiveness of Small and Medium Businesses Through Research and Development, seeks to bolster the capabilities of small and medium enterprises (SMEs) in Connecticut by fostering collaboration between the University of Connecticut and local businesses. The bill specifically defines small businesses as those with fifty or fewer employees and medium businesses as those with fifty-one to one hundred employees. Key components include establishment and funding for a program that will assist SMEs in developing innovations, particularly in advanced manufacturing technologies, thereby enhancing their competitive edge in the market.

Sentiment

Overall, the sentiment around SB00224 appears to be supportive among those who recognize the value of nurturing SMEs as a key sector in the state's economy. Proponents advocate for increased innovation and economic diversity, while simultaneously emphasizing the importance of accessible resources for smaller businesses. However, there could be concerns regarding the effectiveness of such programs and whether the allocated funds will yield the desired outcomes, particularly in addressing the specific needs of SMEs versus larger corporations.

Contention

While there is broad agreement on the need to support small and medium businesses, potential points of contention may arise around the program's implementation details, such as eligibility criteria or the distribution of resources. Critics may argue about whether the funding adequately reflects the disparity in needs between various types of businesses or if it effectively addresses the challenges faced by SMEs in a rapidly evolving market. The bill's emphasis on advanced manufacturing could also lead to discussions about the inclusivity of various industries and the equitable distribution of state resources.