Connecticut House Bill HB05323

Connecticut 2013 Regular Session

• Introduced: 1/17/13
• Refer: 1/17/13

Caption

An Act Designating Thomaston As An Enterprise Zone.

Impact

The designation of Thomaston as an enterprise zone is expected to have several positive effects on state laws concerning economic development. By amending the existing statutes to authorize this designation, the bill will enable the Commissioner of Economic and Community Development to offer particular benefits that may include tax incentives, grants, and assistance to stimulate local businesses. The initiative is designed to attract both new companies and the expansion of existing ones, which would in turn contribute to broader economic growth within the state.

Summary

House Bill 05323 proposes the designation of Thomaston as an enterprise zone. This bill aims to enhance the economic development of the town by allowing targeted incentives for businesses that choose to establish or expand their operations within this area. Through this designation, the state seeks to stimulate job creation, investment, and overall economic revitalization in Thomaston, which may have been facing economic challenges.

Contention

While there may be an overall support for fostering growth in Thomaston, potential contention could arise around the use of state funds for these incentives and the criteria for businesses to qualify for the enterprise zone benefits. Concerns could include the effectiveness of such zones in creating sustainable economic growth, as well as equity in how these designations are applied across different regions. Stakeholders may debate the balance between incentivizing business development and ensuring public resources are used responsibly.