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Giegler represents Danbury, New Fairfield and Ridgefield; Frey reprsents Ridgefield and Smith represents Danbury, Sherman, New Fairfield and New Milford.
Senate Bill 308 – An Act Concerning Manufacturing-Related Issues in the State – requires the Commissioner of Economic and Community Development (DECD) to “develop legislative recommendations for the establishment of a program that allows businesses in the state to exchange unused research and development tax credits,” for capital projects that create or retain jobs, or provide for business expansion that creates a return on investment for the state.
“I’m pleased we were able to get this important legislation passed because it will bring direct benefits to Danbury and Ridgefield and help our state compete for new businesses, while also promoting expansion of companies already located within Connecticut,” said Giegler. “Business-friendly legislation like this will also boost our state’s profile nationally.”
The bill passed within minutes of the legislature’s statutory midnight deadline after being placed on the House of Representatives consent calendar – a legislative practice to approve numerous, broadly supported bills at one time.
“This bill is an example of the type of business-friendly legislation that we should be passing more of in Hartford,” said Frey. “When we help businesses thrive, it helps the whole state.”
“When this legislation is implemented, companies across Connecticut will be able to have more confidence in Connecticut’s business climate, which will bolster growth and expansion,” said Smith.
Boehringer Ingelheim is a top 20 pharmaceutical company that operates globally with 145 affiliates and employs about 47,500. The family-owned company was founded in 1885 and is a world leader in research, development, manufacturing and marketing of new medications with high therapeutic value for both human and veterinary applications.
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