CT SB00221

Establishes the "first five plus program" to provide financial assistance to up to 10 eligible business development projects in fiscal year 2012 and up to 5 projects in fiscal year 2013

Eligible projects must either create at least 200 new jobs within 24 months or invest at least $25 million and create at least 200 jobs within 5 years

Gives preference to projects involving relocation of out-of-state/international manufacturers, corporate headquarters, or jobs from outside the United States, or redevelopment projects expected to create jobs sooner

Authorizes the State Bond Commission to issue up to $1.015 billion in bonds, with $20 million specifically allocated for businesses relocating 100 or more jobs from outside the United States to the state

Allows unused bond authorizations for job relocation to be repurposed for other economic development purposes after the fiscal year in which they were made available