Rep. Piscopo’s Proposal on Business-Friendly Legislation Gains Traction
HARTFORD – State Rep. John Piscopo (R-76) applauds the Commerce Committee of the CT General Assembly for passing his proposed bill, which supports economic growth and development in the town of Thomaston.
The bill, HB 5515- An Act Allowing the Designation of the Town of Thomaston as An Enterprise Zone,
would allow an area in the town of Thomaston to be designated an enterprise zone.
“I have continued to support this initiative for over 20 years as a member of the CT General Assembly “, said Rep. Piscopo. This important legislation will bolster our local economy by attracting new business to the area, stimulating economic growth, and creating jobs.”
Businesses currently located in, or relocating to an enterprise zone qualify for a series of tax breaks, which allow businesses to maintain their capital, and reinvest back into the business, leading to further growth, more jobs, and an expanding economy.
“We have the space to accommodate new and expanding businesses,” said Rep. Piscopo. “Companies will invariably move into or remain in an enterprise zone, as a strategy to benefit from tax abatements, as opposed to an area like Thomaston, which currently is not able to offer this incentive.”
Currently, Thomaston does not belong to an enterprise zone but is surrounded by towns that do. The Naugatuck Valley, Waterbury, and Bristol are designated enterprise zones. This legislation would make Thomaston a competitive player in bidding for new and expanding businesses looking to move to the area.
“Giving Thomaston the enterprise zone designation would greatly increase the ability of local manufacturers in my community not only to expand physically, but also give capacity to increase job force, thereby helping not only the region economically, but also the entire state of Connecticut,” said Selectman Mone.
Both Piscopo and Mone testified in support of this legislation at the Commerce Committee public hearing earlier this month. The bill passed unanimously out of the Commerce Committee last week, and will be debated on the floors of the legislature later this session.
To contact Rep. Piscopo with questions or comments on this or any legislative issue, please call 800-842-1423 or email john.piscopo@housegop.ct.gov.
Rep. Piscopo represents the 76th District in the Connecticut General Assembly.
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