Global financial services giant UBS AG received $11.4 million in loan forgiveness from the state of Connecticut after cutting roughly 1,300 jobs, according to both a state audit and information listed on the Connecticut Open Data website. The Switzerland-based bank which logged $42.9 billion in revenue in 2019, according to ...
In the face of declining tax revenues and weak job reports, state lawmakers have to decide whether or not to continue to fund Governor Malloy's controversial First Five Plus program, which is scheduled to end this year. To fund the program, the state borrows money, which it then hands out to major corporations through grants, low interest loans and tax subsidies in order to create jobs. Commissioner Catherine Smith of the Department of Economic and Community Development testified before the Commerce Committee on March 15 that the program should continue for another three years.