2016 Connecticut General Statutes
Title 32 - Commerce and Economic and Community Development
Chapter 578 - Department of Economic and Community Development
Section 32-4l - First five plus program.

(a)(1) The Department of Economic and Community Development shall establish a first five plus program to encourage business expansion and job creation. As part of said program, the department may provide substantial financial assistance to up to fifteen eligible business development projects by June 30, 2016.

(2) A business development project eligible for financial assistance under the first five plus program shall commit, in the manner prescribed by the Commissioner of Economic and Community Development, to (A) create not less than two hundred new jobs within twenty-four months from the date such application is approved; or (B) invest not less than twenty-five million dollars and create not less than two hundred new jobs not later than five years after the date such application is approved.

(3) The Commissioner of Economic and Community Development may give preference to a business development project that (A) involves the relocation of an out-of-state or international manufacturer or corporate headquarters, (B) involves the relocation of jobs that are outside the United States to the state, or (C) is a redevelopment project if the commissioner believes such redevelopment project will create jobs sooner than the schedule set forth in subdivision (2) of this subsection.

(4) The Commissioner of Economic and Community Development may, in awarding financial assistance to an eligible business development project, work with Connecticut Innovations, Incorporated, to secure financing for such project.

(5) The Commissioner of Economic and Community Development shall certify to the Governor for his or her approval that a business development project applicant has satisfied all the eligibility criteria in the program. Financial assistance awarded through the first five plus program shall be with the written consent of the Governor.

(b) Financial assistance for the first five plus program for eligible business development projects shall be exempt from the provisions of subsection (c) of section 32-223, section 32-462, subsection (q) of section 32-9t and, at the commissioner’s discretion, section 12-211a for the fiscal years ending June 30, 2012, June 30, 2013, June 30, 2014, June 30, 2015, June 30, 2016, and June 30, 2017.

(c) The commissioner may take such action as the commissioner deems necessary or appropriate to enforce such commitment, including, but not limited to, establishing terms and conditions for the repayment of any financial assistance awarded pursuant to the provisions of this section.

(d) On or before September 1, 2013, January 1, 2014, September 1, 2014, January 1, 2015, September 1, 2015, January 1, 2016, and September 1, 2016, the Commissioner of Economic and Community Development shall report in accordance with the provisions of section 11-4a to the joint standing committees of the General Assembly having cognizance of matters relating to commerce and finance, revenue and bonding on the projects funded through the first five plus program, the number of jobs created and the impact on the economy of this state.

(P.A. 11-86, S. 1; Oct. Sp. Sess. P.A. 11-1, S. 38; June 12 Sp. Sess. P.A. 12-1, S. 209; P.A. 13-247, S. 132; June Sp. Sess. P.A. 15-5, S. 42.)

History: P.A. 11-86 effective July 1, 2011; Oct. Sp. Sess. P.A. 11-1 changed “first five program” to “first five plus program”, amended Subsec. (a) to increase number of eligible business development projects from 5 to 10 and specify that up to 10 projects would be provided assistance in fiscal year ending June 30, 2012, and up to 5 projects in fiscal year ending June 30, 2013, in Subdiv. (1) and to add Subpara. (A) re relocation of out-of-state or international manufacturers and corporate headquarters and designate provision re redevelopment project as Subpara. (B) in Subdiv. (3), and amended Subsec. (d) to require additional report on or before September 1, 2012, effective October 27, 2011; June 12 Sp. Sess. P.A. 12-1 amended Subsec. (a) by replacing provision re ten eligible business development projects in fiscal year ending June 30, 2012, and five such projects in fiscal year ending June 30, 2013, with provision re fifteen such projects by June 30, 2013, in Subdiv. (1), making a technical change in Subdiv. (2)(B), adding new Subpara. (B) re relocation of jobs outside the U.S. and redesignating existing Subpara. (B) as Subpara. (C) in Subdiv. (3), and deleting reference to Connecticut Development Authority in Subdiv. (4), effective June 15, 2012; P.A. 13-247 amended Subsec. (a)(1) to replace “2013” with “2015” and made conforming and technical changes in Subsecs. (b) and (d), effective July 1, 2013; June Sp. Sess. P.A. 15-5 amended Subsec. (a)(1) to replace “2015” with “2016”, amended Subsec. (b) to add “June 30, 2016, and June 30, 2017”, and amended Subsec. (d) to add “January 1, 2016, and September 1, 2016,”, effective July 1, 2015.