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State of Connecticut Department of Economic and Community Development News
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The state legislature's Commerce Committee advance ...
April 5, 2000
The state legislature's Commerce Committee advanced a bill to assist the state's small and medium-sized businesses compete internationally through trade networks. State Senator Stephen R. Somma of Waterbury introduced legislation to require the state Department of Community and Economic Development toprovide matching grants to a consortium of new export businesses. The purpose of the grants would be to recruit member firms, research international markets, contract brokers and fund trade shows. Mr. Somma said that, since many small businesses have neither the resources nor the manpower to help them to sell products abroad, this legislation will allow them to pool resources just to do that. He cited that Connecticut Metal Components of Waterbury as a good example of this type of network the legislation aims to promote. He said that six small metal manufacturing companies from western Connecticut teamed up to sell their products abroad. The trade network bill now goes to the floor of the state Senate for further approval.
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