HARTFORD - State Rep. Linda M. Gentile, D-Ansonia, today applauded one of Gov. Dannel P. Malloy’s legislative priorities – the creation of an Advanced Manufacturing Fund, which will receive an initial investment of $25 million to help companies modernize and grow, purchase equipment and develop new technologies, and provide access to training and specialized education for workers.
|Linda M. Gentile|
“This comes at a critical time because job creation must be our top priority,” Gentile said.
“The idea helps our manufacturers find trained and educated workers and state-of-the-art equipment to operate on a level playing field with their competitors and help them obtain the capital to grow and expand.”
Historic manufacturing hubs
A key component of the proposal is to give priority to companies that locate in the 42 communities that are historic manufacturing hubs in Connecticut, such as Ansonia and Derby.
This provision is expected to have a positive impact on local economic development and help lower the high unemployment rates in some of the state’s most distressed communities.
“Incentives like this and a strong network between investors and the state can transform Connecticut into a center of innovation that can be a magnet for entrepreneurs, talented people and great ideas to take root,” said Gentile, House Chair of the Environment Committee.
“Not only is this initiative sound economic policy, but it most certainly is responsible and balanced environmental policy, as well. Let's put our previous manufacturing properties back onto our tax rolls, and protect and preserve open space and pristine land.”
According to the U.S. Bureau of Economic Analysis, Connecticut's manufacturing industry’s annual output rose 5 percent over the last two years and exceeds $24 billion or 10.5 percent of the state’s Gross State Product.
The manufacturing industry employs 159,200 people, representing nearly 10 percent of the state’s total non-farm jobs.
This is a press release from Gentile's office.