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    • Baker Polito Vendor Public Safety Radio System
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​Governor Lamont Announces Federal Approval of Connecticut’s Plan To Support Entrepreneurs and Small Businesses Growth With COVID Recovery Funding

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​HARTFORD, CT) – Governor Ned Lamont today announced that the U.S. Treasury Department has approved the State of Connecticut’s plan to deploy up to $119.5 million in funding through the American Rescue Plan Act’s (ARPA) State Small Business Credit Initiative (SSBCI).
Connecticut’s SSBCI program will support underserved entrepreneurs across the state through a variety of loan and equity programs designed to spur small business growth, create jobs, promote equity, and catalyze green technologies.
“We are thrilled to accept SSBCI funding from Treasury and get it into the hands of small businesses, which are at the heart of Connecticut’s strong economy,” Governor Lamont said. “I thank the Biden administration and Connecticut’s Congressional delegation for providing this funding through ARPA to accelerate our COVID recovery.”
“Congress’s goal in passing the American Rescue Plan Act was to help our country quickly recover economically from the COVID pandemic,” the members of Connecticut’s Congressional delegation said in a joint statement. “This use of ARPA funds will spur small business growth and green energy through major investments in entrepreneurship. These vital investments will create thousands of new jobs and will work to make Connecticut more equitable and sustainable. Our delegation is proud to have fought to bring these funds back to Connecticut.”
“This is an historic investment in entrepreneurship, small business growth, and innovation through the American Rescue Plan that will help reduce barriers to capital access for traditionally underserved communities,” Secretary of the Treasury Janet L. Yellen said. “I’m excited to see how SSBCI funds will promote equitable economic growth across the country.”
This new federal support will enable the launch of two initiatives central to the overarching Governor’s Economic Development Action Plan, a strategic package of initiatives undertaken in 2021 that totals more than $600 million over five years that will result in a projected 80,000 new jobs.
SSBCI funds will be administered by Connecticut Innovations, the state’s strategic venture capital arm and leading source of financing and ongoing support for innovative, growing companies.
With this capitalization, Connecticut Innovations will launch two new funds:
  • The Connecticut Future Fund, supporting entrepreneurs from underserved and diverse backgrounds who lead small businesses in a variety of sectors; and
  • The ClimateTech (CT) Fund, supporting early-stage businesses with a focus on clean energy, environmentally safe manufacturing, and climate resiliency.
Both of these new funds will be supplemented with existing Connecticut Innovations funds. Other SSBCI funds will support existing Connecticut Innovations programs, such as initiatives to support bioscience and advanced manufacturing businesses. Connecticut Innovation’s investments will include early-stage venture debt and equity investments.
“This funding allows us to support underrepresented founders and allow us to grow, attract and retain the most promising green tech companies in Connecticut,” Connecticut Innovations CEO Matthew McCooe said. “We look forward to putting these dollars to work and helping Connecticut-based companies succeed.”
“Our strategic investments in underserved entrepreneurs and green technologies will now be supersized thanks to SSBCI,” Connecticut Department of Economic and Community Development (DECD) Commissioner David Lehman said. “As soon as ARPA became law, DECD and our partners at Connecticut Innovations have been hard at work planning how to optimize our use of new federal funding, and we are now ready to hit the ground running with this award.”
 

Read on CT.gov
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  • Surreal ValeCity online media
  • August 2 2022 Edition
    • Bethlehem Mayor J William Reynolds Interview Request
    • Martin on Main Festival 2022
    • Passion Exhibit Gallery Arte Azulejo
    • Kickoff to Christmas Press Conference Bethlehem
    • Blues Brews and BBQ 2022
    • Elections 2022 >
      • Kelly for Alaska >
        • Tshibaka Time for a Change Constitutional Rights
        • Murkowski Continues Charade Pressing Haaland
        • Kelly Tshibaka Statement Planned Trump Rally
        • Tshibaka Statement Supreme Court Ruling Abortion
        • Tshibaka Blasts Gun Control Deal
        • Murkowski Embraces Gun Control Package
        • Murkowski Erode 2nd Amendment Rights
        • Tshibaka Endorsed by Harold Hamm
        • Jimmy Carter Lisa Murkowski Create Obstacles
        • Tshibaka Murkowski Gross Disregard Workers
        • Kelly Tshibaka Leaked Draft Supreme Court
    • Gov Ivey Launch Small Business Grant Program
    • Gov Ivey Progress Report Attainment Goal
    • Covid Influenza Update July 3 - 9
    • 988 Suicide Crisis Lifeline
    • DHSS Becomes DOH and DFCS
    • Covid Influenza Update June 19 - 25
    • Covid Influenza Update June 26-July 2
    • Covid Flu Update June 12 - June 18
    • Gov Hutchinson Addresses Latino Leaders
    • Gov Hutchinson Reacts Revenue Report
    • Gov Hutchinson Building a Culture of Reading
    • Governor Announces Appointment Bill Jones
    • Governor Lauds Roe Reversal
    • Gov Hutchinson Weekly Address Supporting Teachers
    • Gov Lamont Support Small Business Growth
    • Gov Lamont Addressing Motor Vehicle Theft
    • Gov Lamont Seven New Technology Programs
    • Gov Lamont Update Coronavirus Response July 14
    • Gov Lamont Enabling Crucial Federal Support
    • Gov Lamont Statement Resignation Secretary Merrill
    • Gov Lamont Children Free Admission Museum
    • Gov Lamont Gas Tax Holiday Extended
    • Gov Lamont Appoints Mark Kohler
    • Gov Lamont Appoints Joann Ryan
    • Gov Lamont Statement West Virginia v EPA
    • Gov Lamont Update Coronavirus Response June 30 2022
    • Gov Lamont Commission Plan 250th Anniversary
    • Gov Lamont ParkConneCT Program
    • Gov Lamont Covered Connecticut Expands
    • Gov Lamont Appoints Kimberly Martone
    • Gov Lamont Flags Lowered Shinzo Abe
    • Gov Lamont Flags Lowered Highland Park
    • Gov Lamont Launch ReEmployCT
    • Gov Lamont Update Coronavirus Response July 7
    • Gov Lamont Oasis Pro Markets Expansion
    • Gov Lamont Invite Businesses States Restricting
    • Gov Lamont Minimum Wage Increase
    • Gov Lamont Update Coronavirus Response June 24
    • Gov Lamont Statement Roe v Wade
    • Gov Lamont New Credit Card Fees Waived
    • Baker Polito Vendor Public Safety Radio System
    • Gov Baker Nominates Julie A Lowre
    • Gov Baker Appoint Jordan M Maynard
    • Baker Polito Increases Visibility Executive Branch
    • Gov Baker Nominates Jason Yu-Ting Chan
    • Senior Advocacy Groups Urge Tax Cuts
    • Gov Baker Protect Reproductive Health Care
    • Baker Polito Further Improvement Supply Delivery
    • Baker Polito Supreme Court Gun Ruling
    • Gov Whitmer Appointments to Bench July 12
    • Time Names Detroit Greatest Places 2022
    • Gov Whitmer Budget Investments Public Safety
    • Gov Whitmer Refusing to Extradite Women
    • Gov Whitmer Disaster Declaration Ostego County
    • Gov Whitmer Fix Roads Eaton Houghton
    • Gov Whitmer Monthly Jobs Report July 2022
    • Gov Whitmer Signs 4th Balanced Budget
    • Gov Whitmer Fix Roads 13 Counties
    • Gov Whitmer Clean Water Grants Six Communities
    • Task Force Juvenile Justice Reform
    • Gov Whitmer Signs 900th Bipartisan Bill
    • Gov Whitmer Renaming Highways Fallen Officers
    • Gov Whitmer Growing Maritime Economy
    • Gov Whitmer Appointments Commissions July 19
    • Gov Whitmer Michigan Parents Council
    • Gov Whitmer Signs Education Budget
    • Lt Gov Gilchrist 6 million Investment Students
    • Gov Whitmer Projects Grow Life Sciences
    • Gov Whitmer Bonuses Childcare Professionals
    • Gov Whitmer AmeriCorps Funding Strengthen Communities
    • Gov Whitmer Congress Lower Healthcare Costs
    • Gov Whitmer Growing MI Business Program
    • Gov Whitmer Women Reproductive Health Care
    • Gov Whitmer Food Legislation Boosting Economy
    • Gov Whitmer Expanding Water Infrastructure Funding
    • Gov Whitmer Appointments Commissions June 30
    • Gov Whitmer Fix Damn Roads Macomb
    • Gov Whitmer Joint Statement Budget Deal
    • Gov Whitmer Celebrates Passage Balanced Budget
    • Gov Whitmer Celebrates Bipartisan Budget
    • Gov Whitmer Investments Connected Communities
    • Gov Whitmer Fix Roads Allegan
    • Gov Whitmer Helping Michigan Distilleries
    • Gov Whitmer Lowers Flags Victims Highland Park
    • Gov Whitmer MDHHS Launch Public Effort
    • Gov Whitmer Record Education Budget Investments
    • Gov Whitmer Fix Roads Berrien
    • Gov Whitmer Business Expansion Flint
    • Gov Whitmer Seeking Reproductive Health Care
    • Gov Whitmer Roundtable with Parents
    • Gov Whitmer Death Loren Courts
    • Lt Gov Gilchrist Thriving Seniors Tour
    • Gov Whitmer Bridge Projects Ingham
    • Gov Whitmer Immediate Consideration Abortion Lawsuit
    • Gov Whitmer HOLO Footwear Headquarters Grant Rapids
    • Gov Whitmer Lower Health Care Costs
    • Gov Whitmer Fix Roads Berrien
    • Gov Whitmer Motion Right to Abortion
    • Gov Whitmer Dobbs v Jackson
    • Gov Whitmer Infrastructure Grants 2 Businesses
    • Gov Parson Embark Trade Mission Germany
    • Gov Parson 988 Suicide Crisis Line
    • Gov Parson Signs HB 1878
    • Gov Parson Signs HB 2116
    • Gov Parson State Operating Budget Bills
    • Gov Parson Signs Eight Bills July 1
    • Gov Parson Issues Legislative Vetoes
    • Gov Parson 5 Appointments July 8
    • Gov Parson Three Judicial Appointments July 8
    • Gov Parson 9 Pardons June 2022
    • Gov Parson Increasing Kansas City Police Budget
    • Gov Parson End Elective Abortions
    • Vaccination Data Newly Eligible Population >
      • Gov Sisolak 2022 State of State Address
      • Reno Center Open Support Child Care Providers
      • Gov Sisolak Launches Nevada Climate Series
      • Gov Sisolak Strengthening Reproductive Health Care
      • Helmsley Charitable Trust Brings Virtual Crisis Care
      • Gov Sisolak Calling on Congress
      • First Lady Kathy Sisolak Gives Keynote Address
      • Gov Sisolak Flags Half Staff Abe Shinzo
      • Gov Sisolak Flags Half Staff Highland Park
      • Susan Brown Retiring Governor Finance Office
      • Gov Sisolak Appointments June 2022
      • Gov Sisolak Statement Sandra Douglass Morgan
      • Gov Sisolak Launches Child Care Fund
      • Governor First Lady Tour STEP2
    • Gov Sisolak Appoints Maria Gall
    • Extreme Heat Centralizes Available Resources
    • Gov Sisolak Joins Reproductive Rights Activists
    • Summer's Here College Settlement Camp Open
    • See Me Roots Open Call Submissions
    • SeeMe Passion Grand Prize Winner
    • Meet Esteban Toro First Judge Roots
    • Roots Strength Beneath the Surface
    • Roots Reflections of Total Selves
    • Roots Open Call Judge Iliana Hoyos
  • Supporting ALL Law Enforcement
  • Thanks to the sponsors
  • Staff and Contact Information
  • Archive 2022
    • Arts
    • Dining Out
    • Editorials
    • Events
    • Festivals
  • Archives 2021
    • Community >
      • Feeding the Homeless Philadelphia
  • Archives 2020
  • Archives 2016 - 2019
  • A Valley and Beyond