CT SB00307

Commissioner of Economic and Community Development may establish up to 10 knowledge center enterprise zones surrounding colleges, universities, or other institutions of higher learning upon receipt of a proposal from such institution.

Establishment of a zone requires commissioner determination that economic development benefits outweigh anticipated costs to the state and municipalities, and compliance with the state plan of conservation and development.

Proposals must include geographic scope (limited to two-mile radius), nature of business to be developed, job creation plans, collaboration experience, anticipated community development, and projected lost revenue to state and municipalities.

Businesses in knowledge center enterprise zones receive the same benefits and are subject to the same conditions as businesses in existing enterprise zones under state law.

Commissioner must assess performance of each zone at least 10 years after approval and may remove the designation if the zone fails to meet established goals and performance standards.