Connecticut enacted H.B. 5506 on 7 May, which establishes the JobsCT tax rebate program (JobsCT). JobsCT provides refundable tax credits for companies in targeted industries increasing employment in Connecticut. JobsCT is expected to replace the JobsCT Grant Program currently offered by the Connecticut Department of Economic Community Development (DECD).
Action item: Companies with potential job growth in Connecticut should analyze whether the JobsCT program may be available for their project.