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Saturday June 16, 2012

10:00 AM at the Seekonk Library

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The Seekonk Republican Committee brings this site to introduce our organization and highlight important areas on our site. We want to build a strong Republican presence in this community and in our state.

HOUSE LEADERS OUTLINE JOBS BILL

A new manufacturing grant program to support small businesses, increased funding for a program that helps advance large economic projects, and expanded efforts to expedite permitting are included in job creation legislation outlined Monday afternoon by House leaders.  In addition to several initiatives addressing small business capital needs, the bill also calls for innovation economy matching funds, appropriations to match stipends in the private sector for tech startup interns, and permitting allowances to facilitate development projects that have been unable to move forward due to tight credit markets. 

At a press conference, House Speaker Robert DeLeo contrasted Bay State budget-balancing efforts with California, noting tax increases under consideration there and a $32.4 billion budget approved last month by the Massachusetts House that does not include higher taxes.   Among the bill's other provisions:

• Extending tax credits for two more years, until 2015, to allow redevelopment of brownfields;
• Creates a tax credit program under which credits would be competitively awarded based on "community improvement efforts."
• Requiring small business loan review boards to offer feedback, including information about alternative financing programs, to small business owners when their loan requests are denied;
• Requiring the state pension fund to invest at least $100 million, up from the current $50 million, in institutions that make capital available to small businesses;
• Creation of a local infrastructure development program to help cities and towns leverage private funding for infrastructure improvements needed to support economic development;
• Tasks a new Mass Creative Economy Network with creating a mentoring network and a way for creative economy businesses to be certified;
• Consolidates six programs into a MassWorks Infrastructure Program, the state's latest effort at "one-stop shopping";
• Creation of a new Innovation Investment Fund that would offer matching grants to research and development projects, with eligible projects needing to secure at least $3 for every $1 of state money;
• Establishes and funds a Talent Pipeline Program that would match dollar-for-dollar stipends for interns at tech and innovation start-ups and "builds connections to venture capital financing."