Bill Introduced By State Sen. L. Scott Frantz Advances out of Commerce Committee

March 17, 2009

Bill Aims to Increase Connecticut’s Economic Competitiveness

Hartford, CT – State Senator L. Scott Frantz (R-Greenwich) today announced his bill, SB 50: An Act Concerning the Competitiveness of Connecticut as a Place to do Business, has been voted out of the Commerce Committee. The bill will require the Department of Economic and Community Development (DECD) to annually submit a brief, three-page report to the Governor and the Commerce Committee evaluating the economic vitality and national competitiveness of the state as a place to do business.

“Now more than ever, in the face of this crippling economic downturn, we need to explore ways to maintain Connecticut’s competitive edge in attracting and sustaining business,” said Senator Frantz. “I believe this bill is a critical first step in getting a more accurate picture of our state’s economic vitality and will ultimately enable us to broaden our tax base with new business.”

According to the bill, the report from DECD will include an evaluation of how state programs and policies affect the economy and a breakdown of what other states are doing to improve their business climates. In addition, the report will also contain specific recommendations for policies and programs the state could implement to improve Connecticut’s competitiveness.

“As we work to close our growing budget deficit, we must also look forward at ways to reinvigorate our economy,” said Senator Frantz. “We should be open to all options and all ideas. Having DECD take a good long look at our current business conditions will provide us with invaluable information in developing long-term growth strategies for making Connecticut more business-friendly.”

Senator Frantz is a ranking member on the General Assembly’s Commerce Committee. Senator Frantz was able to attract his Republican colleague Senator Rob Kane (R-32) as a co-sponsor of the bill and looks forward to many more joining in the effort as it moves forward.

Senator Frantz represents the 36th District communities of Greenwich, Stamford and New Canaan. His press secretary is Rachel Reese. She may be reached at 860.240.8865 or via email at [email protected].