The State Bond Commission approved Gov. Dannel P. Malloy’s $600 million proposal for statewide investments on Friday. The contribution will advance developing projects, increase job opportunities and fund community activities across Connecticut.
“The state’s small business express initiative, which is supporting over 1,500 companies and helping them grow, will see an infusion $10 million to further expand jobs, and the Manufacturing Innovation Fund will see a $5 million investment,” Malloy’s deputy press secretary David Bednarz said.
The investments will renovate brownfield land into suitable living and working environments with the effect of improving local economies. Approximately $12.5 million will aid local communities.
Transportation and infrastructure anticipate large investments such as $68.9 million for state road resurfacing, $30 million for Town Aid Road grants, $17.5 million for improvements on the Danbury Branch Line in Norwalk and $7 million for recreational trails across Connecticut, according to Bednarz.
“Our rail infrastructure and the Metro-North line play a vital role in our economy and the daily lives of Connecticut commuters,” Senate Majority Leader Bob Duff said in a press release. “By making critical upgrades to the Danbury Branch Line we will improve safety, increase ridership and invest in our economy.”
From Bethany to Bridgeport, housing developments will see an increase of $78 million, which is vital to the economic growth, Bednarz said.
“I am proud that Gov. Malloy has made housing such an important part of his administration,” said Department of Housing Commissioner Evonne Klein. “By taking these necessary steps to rehabilitate our housing portfolio, we are ensuring that Connecticut residents will have an affordable, quality, and safe place to call home for years to come.”
The funding will benefit mostly every area in Connecticut. Eastern Connecticut plans to receive about $38 million across areas like Franklin, New London and Stonington. Central Connecticut will receive approximately $69 million including Enfield, Windsor Locks and Hartford.
Southern Connecticut will obtain $46.7 million across Hamden, New Haven and Cromwell. Last, western Connecticut will receive $64.3 million across Norwalk, Stamford and Danbury.
“The world is changing, and we need to adapt with it. Central to that is making strategic investments to enhance our competitiveness in long-term,” Malloy said in the press release.
Richard Monroy is a campus correspondent for The Daily Campus. He can be reached via email at email@example.com.