An forecast for economic recovery in the United States has accelerated rapidly compared to a few months ago. In Connecticut, legislative efforts are looking to attract tech industries and strengthen manufacturing; the state is also facing legal challenges over its COVID-19 distribution.
National
The Organization for Economic Cooperation and Development has revised its economic forecast and now anticipates that the United States economy will recover twice as fast as previously expected. Due to the ongoing COVID-19 vaccine rollout and the anticipated passage of the $1.9 trillion American Rescue Plan, the OECD expects the U.S. economy to expand by 6.5 percent this year – up from 3.2 percent in a December forecast.
Connecticut
The Hartford Business Journal notes bipartisan support for strengthening Connecticut’s manufacturing industry in several bills before the state legislature. Some proposals include tax credits for hiring apprentices, grants for worker training programs and equipment upgrades, and “Buy Connecticut” initiatives.
Governor Ned Lamont has signed a bill providing 20- to 30-year tax breaks for qualifying data centers. Supporters of this initiative hope the incentive will help attract financial services businesses and other high-tech industries to Connecticut.
Connecticut is facing legal complaints charging that it’s COVID-19 vaccine distribution is discriminatory. One complaint was filed shortly after the state adopted an age-based distribution, saying it discriminates against disabled residents; a more recent complaint says the state is not providing adequate vaccine distribution to residents of color.
