HARTFORD, Conn. — The state has authorized nearly $57 million in borrowing for business loans and grants to 13 companies to help spur economic growth, but not everyone is happy.
State Rep. Chris Davis cast the sole vote against the package approved Wednesday by the State Bond Commission. The Ellington Republican told the Hartford Courant that Connecticut is in no position to give financial aid to companies at a time of cuts to social programs.
Democratic Gov. Dannel P. Malloy, who heads the bond commission, says companies of all sizes are expanding or relocating in Connecticut.
He says the 13 companies have committed to establishing nearly 1,600 jobs and keeping another 2,949.
The beneficiaries of the state aid include Xerox Inc., the Norwalk-based maker of office equipment.
Information from: Hartford Courant, http://www.courant.com