Connecticut House Bill HB06805

Connecticut 2019 Regular Session

• Introduced: 1/30/19
• Refer: 1/30/19

Caption

An Act Concerning Tax Credits And State Assistance For Sustainable Manufacturing Businesses That Move To Connecticut.

Impact

The proposed bill seeks to amend general statutes related to business incentives in the state. By offering tax credits specifically tailored for sustainable manufacturing firms, the bill aims to establish Connecticut as a competitive destination for companies prioritizing environmentally friendly production methods. This action could lead to an influx of new businesses, potentially boosting local economies and creating diverse employment opportunities for residents.

Summary

House Bill HB06805 aims to encourage sustainable manufacturing businesses to relocate to Connecticut by providing tax credits and state assistance. The primary goal of the bill is to enhance job opportunities for residents in Connecticut, thereby stimulating economic growth and promoting environmentally sustainable practices within the manufacturing sector. This legislation reflects a growing trend in state policy to attract businesses that align with sustainability goals and to create a more robust job market.

Contention

A notable point of contention surrounding HB06805 may arise from the balance between state investment in private businesses and the potential implications for local economies. Critics might argue that providing substantial tax incentives to attract certain types of businesses could lead to inequitable resource allocation and might not directly benefit existing local enterprises or communities. Conversely, proponents highlight that the long-term environmental and economic benefits of attracting sustainable firms justify the initial investment, fostering a forward-thinking economic landscape.