OLR Bill Analysis
AN ACT CONCERNING JOBS IN EMERGING SECTORS.
This bill requires the Department of Economic and Community Development (DECD) commissioner to prepare and annually update a plan identifying the state's emerging business sectors. She must submit the plan to the Commerce, Education, and Higher Education and Employment Advancement committees by December 1, 2014, and the annual updates to these committees by December 1, starting in 2015. The bill specifically allows her to assist businesses in the emerging sectors by granting them a preference for economic development assistance.
The commissioner must summarize the emerging sectors plan in DECD's five-year strategic development plan, listing the sectors and recommending how the state can support them. She must also summarize the steps she took to assist the sectors in DECD's annual report to the legislature.
EFFECTIVE DATE: October 1, 2013
ANNUAL EMERGING SECTORS PLAN
The annual plan must identify the state's emerging business sectors that can potentially increase job growth. In doing so, it must analyze the sectors and identify (1) opportunities for supporting their economic development and (2) the financial, environmental, and educational barriers inhibiting their growth.
Further, the plan must:
1. identify the resources available for supporting newly forming businesses in each sector,
2. provide a strategy to align the state's education and higher education systems with the sectors' workforce development needs, and
3. recommend programmatic changes for supporting the sectors and estimate how much it would cost to implement them.
SB 943 (File 71) shortens the timeframe, from five to four years, for DECD's strategic development plan and eliminates many procedural and content requirements for preparing it. It specifically eliminates the requirement that DECD identify and analyze the state's growing and declining economic clusters.