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CBIA Calls Budget Proposals a Blow to Economic Recovery

Nick Papakyriazis/Flickr
The Conneticut Business and Industry Association sees Governor Malloy's budget proposal as a hindrance to the state economy.

The state’s largest business organization has called the governor’s budget proposals a serious blow to business confidence and the economic recovery.

The Connecticut Business and Industry Association said it will oppose the measures, which include effective tax hikes on many businesses in the state.

The budget, which aims to close billion-dollar deficits in each of its two years, caps the amount of tax credits that companies can use, reduces the amount of losses they can set against future tax bills, and continues indefinitely the 20 percent surcharge on corporate tax -- a measure that was due to sunset this year.

CBIA is appealing to the legislature to find more spending cuts as an alternative way to balance the budget.

New Gas Pipeline Partner

Another major utility provider has joined Eversource investing in a $3 billion gas pipeline expansion project. National Grid, which is headquartered in the UK, has several million gas and electric customers in Massachusetts.

It will become a partner with Eversource, the former Northeast Utilties, and Spectra in the Access Northeast plan, which aims to increase the flow of natural gas into the region by 2018.

Major Hiring Fair

The new mall under construction at Foxwoods Resort Casino is hiring.

Tanger Factory Outlets said it will hold a job fair in March, seeking 900 employees for the 80 or so stores that will open at the mall in May. The job fair will be held March 19 in the Premier Ballroom at Foxwoods.

Harriet Jones is Managing Editor for Connecticut Public Radio, overseeing the coverage of daily stories from our busy newsroom.

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