- CBIA, Connecticut Manufacturers’ Collaborative, and ReadyCT call for expansion of Connecticut’s manufacturing apprenticeship tax credit program
- Goal is to make the credit available to business structures favored by smaller businesses
- Groups say the expense of the expanded tax credit would be offset by the economic growth it would create
Summary by Dirk Langeveld
Three Connecticut business groups are calling on the state legislature to expand the state’s manufacturing apprenticeship tax credit program to include smaller manufacturers.
The Connecticut Business & Industry Association, Connecticut Manufacturers’ Collaborative, and ReadyCT sent a letter to legislative leaders on May 6 saying the credit “is critical to workforce development in the state as we focus resources on this vital sector.” The credit is currently limited to C corporations, which tend to be larger companies. The groups are calling for it to be made available to all business structures and for this change to be incorporated into the next state budget
The groups also said:
- An expanded manufacturing apprenticeship tax credit would help small and medium-sized businesses mitigate their training costs and be more competitive with larger companies
- The current program is inadvertently leading to limited apprenticeship opportunities in Connecticut, potentially driving people out of state to seek opportunities elsewhere
- Retirements and defense contracts will create an annual demand for manufacturing employees at 6,000 new workers a year, according to the Governor’s Workforce Council
- An expanded credit would cost the state an additional $1.4 million a year, but spur economic growth that would offset the expense
