Connecticut Senate Bill SB00666

Connecticut 2019 Regular Session

• Introduced: 1/28/19
• Refer: 1/28/19

Caption

An Act Concerning Funding For Local Entrepreneurs And Businesses.

Impact

The bill is poised to impact state laws concerning economic development by ensuring that financial assistance is readily available for local businesses dedicated to innovation. By expanding funding opportunities, SB00666 seeks to stimulate job creation and promote sustainable business practices. The emphasis on innovation suggests a strategic move to keep pace with evolving market demands while encouraging entrepreneurs to develop new solutions and technologies, thereby driving overall economic growth within the state.

Summary

Senate Bill 00666, also known as the Act Concerning Funding For Local Entrepreneurs And Businesses, is proposed to enhance support for local entrepreneurs and businesses in the state. It aims to facilitate access to funds managed by the Department of Economic and Community Development, specifically targeting those businesses that focus on innovation and employment growth. This initiative underscores the importance of fostering local economic activity and aims to empower smaller enterprises to thrive in a competitive economic landscape.

Contention

One of the main points of contention surrounding SB00666 may revolve around the allocation of funds and the criteria for determining which businesses receive support. Stakeholders may have differing opinions on the effectiveness of government-funded programs and the administrative capacities of the Department of Economic and Community Development. Critics could argue that without stringent oversight, these initiatives might lack transparency or fail to provide equitable support across varying industries. Additionally, there may be debates over the long-term sustainability of relying on state-funded programs to foster economic development.