Even as a state agency reportedly recommended ending several tax credit programs, Connecticut moved ahead with a plan to expand an existing program to free up financing for a wide range of small businesses.
A venture capital group has raised $72 million for investments in more than 25 small businesses in Connecticut, under an updated state law that certifies fund managers to invest private capital furnished by insurance companies.
Advantage Capital Partners became the first venture capital and small business finance firm to be certified as a fund manager under the newly revised insurance reinvestment tax credit program, a 1994 program expanded as part of the state’s jobs bill passed last year.
To read the full, original article click on this link: State expands tax credit | Westfair Online
Author: Alexander Soule
