October 5, 2011 

JOBS GROWTH AT CENTER OF LEGISLATIVE FORUM

House Majority Leader Brendan Sharkey (D-Hamden) and State Senate Majority Leader Martin Looney (D-New Haven) opened the October 2011 Majority Leaders’ Job Growth Roundtable meeting with a presentation by Department of Economic and Community Development (DECD) Commissioner Catherine Smith. Job growth initiatives and the upcoming special session of the General Assembly was the topic of conversation during the meeting held today at the Legislative Office Building.

“This group has been meeting over the past year and produced a series of recommendations we might include in discussions at the jobs summit tomorrow and upcoming special session,” said Rep. Sharkey. “For example, we need to increase the interest in venture capital investing in state; work toward  creating an ‘innovation ecosystem’ where academia, the state and private sector come together like the Jackson Labs UConn project; and making it easier for small businesses to start-up and grow. I’d like to see a ‘First 50’ small businesses program like we did with the ‘First Five’.”

DECD Commissioner Smith reported on the feedback she and Governor Malloy received during their three-month jobs tour, which included over 70 stops and meetings at businesses around Connecticut.

“I think this type of forum is an important part of the larger public discussion on job growth.  I know last year’s roundtable led to significant legislation on the jobs front and I believe we can build on that groundwork,” said Commissioner Smith.  “With the Governor’s Jobs Tour and Economic Summit, and with the creative ideas generated here, there seems to be emerging consensus on how we can jumpstart Connecticut’s economy.”

“We have an opportunity at the Jobs Summit to bring the discussion to a larger group and then refine the concepts for the upcoming session,” said Rep. Sharkey. “We need to delve deeper into how to streamline the regulatory environment affecting small businesses; better assess if workforce development and training is meeting the needs of Connecticut businesses; and look at lowering the threshold for venture capital investment to receive state tax credits, among other ideas.”

“Many of the themes discussed today by Commissioner Smith are in accord with what the Majority Leaders’ Roundtable members have been advocating; state assistance opportunities for small business, regulation relief and streamlining, and ways to enhance workforce development,” said Sen. Looney.

The most comprehensive jobs bill of the 2011 legislative session: An Act Concerning the Continuance of The Majority Leaders’ Job Growth Roundtable, (HB 6525) became effective October 1st. The bill received unanimous bipartisan support and will help create and retain manufacturing and technology-based jobs through incentives and a strong network between investors, academics and the state to transform Connecticut into a center of innovation for long-term growth.

Formed by the House and Senate majority leaders, the Jobs Growth Roundtable working group members brainstorm ideas to develop a strategic direction to strengthen the state's economy, create jobs, and lay the groundwork for future stable, long-term growth. It also includes leaders in the business community, labor, educators, entrepreneurs and venture capitalists.