It is hereby found and declared that there exists in this state a great and growing need for additional forms of state financial assistance for Connecticut's manufacturing and other economic base firms to preserve and promote development and to create and maintain employment; that the availability of financial assistance is an important and increasingly critical consideration in the preservation and development of the state's economy; that there exists a serious risk of plant closing and relocations out-of-state; that there exists a shortage of risk capital and other forms of financial assistance for business which has had and will continue to have a serious effect on the development and preservation of important business enterprises and employment in this state, and therefore, it is necessary and in the public interest and for the public good that the provisions of sections 32-23hh to 32-23ll, inclusive, are hereby declared a matter of legislative determination.
(P.A. 91-319, S. 1, 7; June Sp. Sess. P.A. 91-3, S. 148, 168.)
History: June Sp. Sess. P.A. 91-3 removed the word “major” which had modified “plant closing”.
See Sec. 32-477 re priority for applicants establishing work environments consistent with criteria in Sec. 32-475.