Connecticut Senate Bill SB00571

Connecticut 2019 Regular Session

• Introduced: 1/25/19
• Refer: 1/25/19

Caption

An Act Establishing An Enterprise Zone In The Town Of Plymouth.

Note

The legislative discussion surrounding SB00571 may highlight these various perspectives, offering insights into both the potential advantages of the bill and the challenges it may face as it moves through the legislative process.

Impact

The establishment of an enterprise zone in Plymouth is expected to provide various tax incentives and benefits to businesses operating within the area. This could include property tax abatements, income tax credits, and other financial incentives aimed at reducing operational costs for companies willing to invest in Plymouth. By creating a more attractive environment for businesses, the bill intends to foster job creation and enhance the local economy, potentially leading to a revitalization of Plymouth’s economic landscape.

Summary

SB00571 is proposed legislation aimed at establishing an enterprise zone in the town of Plymouth. The act seeks to amend section 32-70 of the general statutes, designating Plymouth as an official enterprise zone. The objective of this designation is to stimulate economic growth and development within the town, encouraging the establishment and expansion of businesses. This initiative aligns with broader state efforts to enhance economic activity in specific regions identified as needing additional support.

Contention

While the bill presents a proactive approach to economic development, there could be differing opinions regarding its effectiveness and fairness. Some stakeholders may argue that such measures disproportionately benefit larger businesses or corporations at the expense of local enterprises that may not qualify for the same incentives. Additionally, there may be concerns about the long-term sustainability of tax incentives and whether the expected economic benefits will materialize in a measurable way for the community.