Malloy announces results of First Five Plus Initiative

(AP Photo/Michael Dwyer, File)

NEW HAVEN, Conn. (WTNH) — Despite some companies like GE moving out of state, Gov. Malloy insists the state’s business climate is doing well.

Malloy touting results of his ‘First Five Plus Initiative’ Tuesday in New Haven. The program creates incentives for big businesses to add jobs to the state.

The Governor says that companies in the program have added more than 3,000 jobs since it’s start in 2011 and are investing more than a billion in new infrastructure and capital.

“We currently have 13 companies participating in our First Five Plus program. If those companies add the minimum jobs required, they generate $226.4 million of new state tax revenue over the course of 10 years,” said Malloy.

The Governor says the companies also work with local schools and universities to create the next generation of employees.

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