January 12, 2012

GOV. MALLOY FORMS TASKFORCE TO REVIEW AND ASSESS EFFECTIVENESS OF STATE'S BUSINESS TAX CREDITS

(HARTFORD, CT) - Governor Dannel P. Malloy today signed Executive Order 17 which will create a nine member Governor's Business Tax Policy Review Taskforce. The taskforce's mission will be to review the state's business tax policies to ensure that Connecticut is getting the maximum return on its investments, with an eye toward policies that will make the state even more competitive for future job growth.

"Over the last year, we've made every effort to reinvent our state, so that we could turn around twenty years of job loss and spur our economy," said Governor Malloy. "From First Five to the bipartisan jobs package, we sent a message across the country and around the world that Connecticut is open for business. This taskforce will make sure that Connecticut is getting a solid return on those investments by closely examining ways to reduce costs, improve efficiency, and ensure that taxpayer dollars are being used to create and retain good, permanent jobs for our workforce. It will also be charged with finding policies that will make our state even more competitive so that we can pull even more jobs into our state."

The taskforce will be jointly headed by Commissioner Catherine Smith of the Department of Economic and Community Development and Commissioner Kevin Sullivan of the Department of Revenue Services. Legislation stemming from the work of the taskforce will build on Governor Malloy's 2011 Economic Summit and the October special session on jobs to improve Connecticut's business tax policy and encourage business development and growth.

They will report findings and recommendations to the Governor by October 1, 2012.

The Executive Order can be found here .

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For Immediate Release: January 12, 2012

Facebook: Office of Governor Dannel P. Malloy