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Governor's Budget Would Help Biotech Industry, Small Businesses
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Governor Jodi Rell’s budget proposals include measures to help small business, boost the state’s biotech industry, and to train more nurses and engineers.

The Governor’s state of the state address emphasized fiscal responsibility with a budget plan that does not break the state spending cap.  Rell also stressed the need for boosting economic development and creating jobs.  Her budget would repeal the business entity tax, a measure that has bipartisan support.  She included cash for nursing scholarships, and loan reimbursements for engineers as a way to help bridge the shortfall in qualified candidates in those fields.  Rell also wants to put five and a half million dollars into the field of nanotechnology.

Nanotechnology draws upon our strengths in the field of biology and chemistry, and it is economic driver in manufacturing and biotechnology.  I want Connecticut to be a national leader in nanotechnology.  It’s a field involving minute little particles, but its development will create mega jobs here in the state.

Business leaders say they’re pleased with the governor’s overall message.  Bonnie Stewart of the Connecticut Business and Industry Association says with an uncertain economy ahead the governor is rightly cautious.

It was important to us that she talk about spending restraints and she did indicate that her budget was within the spending cap, and that’s positive, because spending is an issue that everyone in the state is talking about, whether you’re talking to a resident or a business.

Rell had indicated prior to the speech that state tax rebates as a method of stimulating the economy are off the table – although she did urge federal authorities to act quickly to provide a workable stimulus package.