Fasano Statement on State Auditors’ Report on DECD Inflating Jobs Numbers, Misreporting Information

April 25, 2018

Senate Republican President Pro Tempore Len Fasano (R-North Haven) released the following statement regarding the State Auditors’ Report on the Department of Economic and Community Development 2017 Annual Report. The auditors found that in DECD’s reporting on grants and loans it gives to state businesses the agency has overstated number of jobs created and retained, misreported information, is not collecting certain information, and included errors in estimates off by tens of millions of dollars.

“The auditors’ report is disturbing yet indicative of Governor Malloy’s continued misrepresentation of Connecticut’s economy. The report confirms what everyone already knew, that the governor’s ‘First 50+’ program has not been the success it’s been made out to be and our state has completely failed to accurately monitor the taxpayer money it’s been handing out. The governor’s policies have focused on picking winners and losers, and unfortunately it seems like in many regards the biggest loser has been the taxpayer.

“For all the money Governor Malloy gives out to large companies, his administration’s systems to monitor the effectiveness of these dollars are alarmingly deficient. The errors uncovered are beyond unacceptable.  It’s disrespectful to every single resident whose tax dollars are being used to pay these businesses. If Connecticut is going to invest in businesses with loans, grants and tax credits, we need to be able to track the effectiveness of this state funding. This administration has completely failed in that regard.”

“For years Republicans have called for greater transparency and reporting by DECD. We’ve been repeatedly told by DECD that they cannot share certain information with lawmakers. Today it’s clear that the information the agency does have is significantly flawed and inaccurate. All those who have long called for enhanced reporting and transparency need to continue our efforts to shine a light on this agency and hold them accountable.”