Governor Jodi Rell’s budget proposals contain a number of measures aimed at boosting job creation in the state. WNPR’s Harriet Jones reports.
Rell told lawmakers she wants to focus her efforts on two core issues: creating jobs and balancing the state budget. She announced a new bonding-backed credit consortium to make loans more available to Connecticut businesses.
Employers need loans and financing to buy equipment and inventory, expand space or just to meet daily cash flow demands.
"As we all know the credit crunch has crippled a great many employers. Financing that was readily available in years past is difficult, if not impossible, to find."
Rell also wants to see a number of expanded tax credits for businesses, including a job creation tax break. And she’s calling for an education loan forgiveness program for those who train for green jobs in the state. John Rathgeber, the CEO of the Connecticut Business and Industry Association says those measures will all help on the margins, but he’s most encouraged by Rell’s call for a special commission to look at unfunded mandates and structural issues in the budget.
"Employers small or large are very concerned about the future in the state of Connecticut, and unless we start to deal with these issues and start to address the budget problems, they understand that there’s just going to be a new round of debate over tax increases on businesses and individuals."
Connecticut is currently facing a projected $500 million budget deficit.
For WNPR, I'm Harriet Jones.