Connecticut's Manufacturing Assistance Act (MAA), created in the early 1990s, was initially designed to support manufacturing companies facing fierce offshore competition. However, over the years, the program has expanded its scope, with only 40% of recent funds being allocated to manufacturing. Since its inception, the MAA has witnessed a staggering 48% job loss in the manufacturing sector, totaling over 140,000 jobs. This trend raises questions about the effectiveness of the program in its original mission to bolster manufacturing jobs in the state.
The First Five program, launched in 2011 under former Governor Dannel Malloy, aimed to create jobs by providing direct assistance to companies. Yet, of the 19 companies that received funding, only four were manufacturers, indicating a significant deviation from the program's intended focus. In response to these developments, the Lamont administration has shifted its attention to new initiatives such as JobsCT and the Small Business Boost Fund. These programs offer tax incentives and loans to businesses but have faced criticism for not adequately supporting the manufacturing sector.
Chief Manufacturing Officer Paul Lavoie has set an ambitious goal to increase manufacturing's share of Connecticut's GDP from 12% to 20% by 2030. He emphasizes the need for innovation and automation to achieve this target. Additionally, federal investments are being directed towards workforce development in advanced manufacturing, aiming to enhance the skills of the workforce and adapt to the evolving industry landscape. As Connecticut navigates these changes, the effectiveness of its support programs for manufacturing remains a critical issue for policymakers and industry leaders alike. [938b7af2]