In Old Saybrook, Sen. Linares Talks Jobs, Economy Pledges to Continue to be “Voice for Local Businesses” at State Capitol
May 13, 2014Sen. Art Linares on May 13 provided a legislative update to members of the Old Saybrook Chamber of Commerce and state and local officials during a breakfast forum at the Saybrook Point Pavilion.
“We can make Connecticut a Top 20 state for business,” Sen. Linares said. “To get there, we must pass policies which reduce tax and regulatory burdens on businesses. We must pass pro-growth policies which unlock our potential as a state, address our weaknesses, and capitalize on our strengths. We need to listen to what Connecticut businesses are telling us.
In the presentation, Sen. Linares discussed new policies he is supporting which aim to spark the economy and help area businesses grow and retain jobs in Connecticut.
- Starting next year, new legislation allows businesses to earn apprenticeship tax credits for manufacturing trades. Businesses could then sell, assign, or transfer the tax credits to other taxpayers, including corporations that may in turn claim the tax credits to reduce their corporation tax liability.
- Legislation which will improve and enhance the current Manufacturing Reinvestment Account (MRA) program and open it up to small businesses with up to 150 employees. An MRA is like an IRA for manufacturers, allowing profits to be reinvested back into companies without having to pay taxes.
“This is about giving our manufacturers incentives to stay here, grow here, and hire here,” Sen. Linares said. “Each manufacturing job in Connecticut creates 1.5 to 4 additional jobs in other parts of the state’s economy. I have toured manufacturers in Chester, Colchester, Essex, Old Saybrook, Portland and Westbrook. These measures are in direct response to the concerns these manufacturers have expressed to me.”
Sen. Linares, who serves on the state legislature’s Commerce Committee, also co-sponsored legislation creating a statewide Port Authority. The Port Authority will market Connecticut’s ports to domestic and foreign shippers, seek private investments, and pursue funding for dredging and other improvements needed to boost shipping and cargo capacity.
“Our state has so much potential,” Sen. Linares said. “I will continue to be a voice for area businesses at the State Capitol, and I will continue to reach out to employers to hear their concerns. I’m listening, and I will continue to work in a bipartisan fashion to make Connecticut one of the best places to do business in the country.”
Sen. Linares thanked the Old Saybrook Chamber of Commerce and the Connecticut Business and Industry Association for hosting the legislative wrap up.