Connecticut Senate Bill SB00080

Connecticut 2013 Regular Session

• Introduced: 1/10/13
• Refer: 1/10/13

Caption

An Act Designating South Stratford As An Enterprise Zone.

Impact

The implications of SB00080 may significantly alter local economic dynamics. The designation of South Stratford as an enterprise zone is expected to enhance the area’s appeal for new businesses, potentially leading to an increase in employment opportunities and local revenue. This economic boost could help revitalize parts of South Stratford that may have been economically distressed. However, the long-term effectiveness of such policies often depends on the specific incentives implemented and the commitment from the local government to sustain them.

Summary

Senate Bill 00080 proposes to designate South Stratford as an enterprise zone, a measure aimed at fostering economic development in the region. By designating this area as an enterprise zone, the bill seeks to provide various incentives for businesses to establish operations in South Stratford. These incentives typically include tax breaks and reduced regulatory burdens, which are designed to attract investment and stimulate job creation within the community.

Contention

While support for SB00080 centers around the potential for economic revitalization, there could be points of contention regarding how the designation might affect existing businesses and neighborhoods. Critics may argue that establishing an enterprise zone could lead to gentrification and unintended consequences on housing costs and local services. Additionally, there may be concerns over whether the expected economic benefits will reach all segments of the community or primarily benefit newer businesses at the expense of existing local enterprises.