Sen. Fasano: Pull Jackson Labs out of Jobs Special Session

October 18, 2011

Hartford, CT – Senator Len Fasano (R-North Haven) is asking the Governor to pull the Jackson Lab Proposal off the table for the Oct. 26 special session.

“What is the rush? We should not be voting on a $291 million proposal until we see all the details and do our due diligence as legislators. Why risk it?” said Senator Fasano.

Let’s see if this investment makes good business sense for Connecticut. Taxpayers deserve no less.

State Senator Len Fasano

The jobs special session is slated for October 26th just one week from now. Governor Malloy has said he would like lawmakers to vote on two separate items during the special session:

o The Jobs Package
o The Jackson Lab Proposal

“Legislators have not seen the entire Jackson Lab deal and those fine details should be vetted,” added Senator Fasano. “There is a memorandum of understanding being put together between the state and Jackson Labs. Why haven’t lawmakers seen that memo?”

In addition the majority party has called for a public hearing for Oct. 20 on the Jackson Lab proposal. “What are taxpayers supposed to comment on? There is no concrete deal.” asked Senator Fasano.

Fasano added that he also has the following questions.

o If Jackson Labs owns the building the state constructs for them can they sell it?
o Will the land be leased or given to Jackson Labs?
o Are there any claw back provisions if Jackson Labs defaults on the deal?
o Will the state recoup any money made on patents?
o When will Jackson Labs be required to put in its own money to the project?

According to the Department of Economic and Community Development (DECD) the deal with Jackson Laboratory will create 841 construction jobs and about 330 jobs over the next 10 years. It also estimated there will be about 4,000 “spin off” jobs created and 2,000 indirect service type jobs created as a result of the investment.

Senator Fasano said, “If the deal is that promising and we are spending a significant amount of taxpayer dollars to invest in bio-technology, then we should take our time and do our homework. Let’s see if this investment makes good business sense for Connecticut. Taxpayers deserve no less.”

Senator Fasano is asking the Governor to hold off and vote on the Jackson Lab proposal in February during the regular session.