Governor Malloy's "First Five"
Job Creation Initiative
On February 16, 2011, Governor Dannel P. Malloy proposed his First Five job creation initiative. The First Five program provides incentives to businesses that, depending on the size of the company’s investment, create a minimum of 200 new, full-time jobs in the state within the next two years, or 200 new, full-time jobs in the state within five years. After receiving overwhelming bipartisan support for the legislation in the General Assembly, Governor Malloy signed the bill into law on July 8, 2011.
First Five augments and combines the state's best incentive and tax credit programs to encourage job creation. In addition to the incentives based on the creation of the first 200 new full-time jobs within Connecticut, businesses would continue to receive credits for each net new job created above 200, increasing the potential to thousands of jobs in the state. Before companies can be eligible for the First Five program, they must receive approval from the Department of Economic and Community Development.
The program was designed to: (1) Attract new companies into the state; (2) Keep the companies we already have and retain their current job levels; and (3) encourage businesses to expand and add new jobs.
Businesses interested in the First Five program can contact Ron Angelo at the Department of Economic and Community Development for more information at 860-270-8020.
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