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Lamont Touts $150M Small Business Investment Program

Courtesy of Pixabay

Connecticut Governor Ned Lamont rolled out a plan to invest $150 million in small businesses on Monday. Lamont visited a business incubator in a renovated factory building in Hartford to highlight the initiative.

The Swift Factory in the North End of Hartford once produced gold leaf used to decorate buildings, like the dome of the state Capitol. Now, it’s revitalizing the neighborhood business community.

Lamont said the state’s $150 million initiative, called the Connecticut Fund, would be focused on startups in areas like the North End that were hit hard by the pandemic.

“Now we are starting dreams, starting up businesses and they are going to be right here in this community. And that’s going to rebuild this community. That’s what this future fund, what this equity fund, is all about,” Lamont said.

The fund includes $75 million in state bonding and $75 million from federal COVID relief. More than half the money would go to businesses owned by women and minorities, including people with disabilities and veterans.

As WSHU Public Radio’s award-winning senior political reporter, Ebong Udoma draws on his extensive tenure to delve deep into state politics during a major election year.