CEDAS 2018 Legislative Agenda

Public Policy Updates

2018 Legislative Update

May 2018

ReporttoCEDASBoard_Policy_52218.pdf

 

April 2018

CEDAS_legislativeupdate_4918.pdf

 


 

2018 Legislative Agenda 

Successful economic development is critical to the well-being and future success of the State of Connecticut. Existing businesses, investors, entrepreneurs, and out-of-state companies will only choose Connecticut if they believe this state provides their company with the opportunity for future growth and success. It is incumbent upon this state’s leaders to create the conditions that allow for this growth by providing the state with fiscal stability, a positive business climate, and infrastructure that can support this growth.

Last year, the Legislature reached a bipartisan compromise to the State’s fiscal challenges. CEDAS was encouraged by these bipartisan efforts and hopes they mark a way forward for addressing other challenges that the State faces. The members of CEDAS respectfully request the Legislature to support the following positions and initiatives in order to encourage economic growth:

  • Fiscal Stability: address state fiscal challenges that create uncertainty for businesses; recommendations from the State Commission on Fiscal Stability and Economic Growth should be seriously considered.
  • Economic Development: maintain or increase the budget of the Department of Economic & Community Development and other organizations responsible for economic development so that they continue to market the state and support the businesses that choose to call Connecticut home.
  • Workforce: continue efforts to align the community college system with the needs of employers; encourage closer ties with the business community at all levels of education.
  • Transportation: invest in transportation assets to keep-up maintenance and build capacity for future growth, specifically with commuter rail, Interstate 95 and regional airports. Develop and implement plans to integrates all areas of the State into the regional transportation network.
  • Historic Tax Credits: maintain and increase the availability of tax credit programs that leverage resources to redevelop communities and increase their vibrancy. Over the last two years, investors have claimed these funds within the first month of the fiscal year. By raising the cap on historic tax credits, the State will encourage more economic investment in development projects.
  • Review Funding Provision: the 2017 Budget Compromise included a provision requiring that any organizations that receive $1 million or more in financial assistance from the Department of Economic and Community Development must comply with prevailing wage laws for all contracts related to the project. CEDAS is concerned that this could have a chilling effect on the acceptance of state incentive packages. While the financial threshold was increased, the law now applies to all contracts. We ask that the Legislature review this provision and the impacts that it may have.
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