Connecticut Senate Bill SB00533

Connecticut 2013 Regular Session

• Introduced: 1/24/13
• Refer: 1/24/13

Caption

An Act Concerning Economic Development In The Area Surrounding Route 80 In East Haven.

Impact

If enacted, the bill would amend Title 32 of the general statutes to formalize this designation, which is expected to yield substantial benefits for the local community. This initiative could lead to increased investment opportunities, generating both short-term and long-term economic benefits for East Haven. Additionally, it may enhance the competitiveness of local businesses by providing them with more resources and support, making it easier for them to thrive in a favorable economic environment.

Summary

SB00533, introduced by Senator Fasano and Representative Albis, aims to designate the area surrounding Route 80 in East Haven as an economic development zone. The primary objective of this bill is to foster economic growth and attract new businesses to the area by creating a designated zone that may include an enterprise zone. This classification is intended to provide various incentives and support for businesses looking to establish or expand their operations within the defined region, thereby stimulating local economic activity and job creation.

Contention

While proponents of SB00533 argue that the creation of an economic development zone will revitalize the community, there may be points of contention regarding the effectiveness and sustainability of such initiatives. Critics may raise concerns about the potential for increased traffic, changes to the urban landscape, or whether the taxes and subsidies offered will adequately balance the needs of local residents with those of incoming businesses. Moreover, there may be discussions about the actual criteria for qualifying as an enterprise zone and how the benefits will be distributed among various types of businesses.