Sec. 32-502. Export extension service program.
Sec. 32-503. Connecticut Innovations, Incorporated export division.
Sec. 32-504. International trade account.
Sec. 32-505. International trade representatives.
Sec. 32-507. Trade consortium program.
Sec. 32-508. Information and education program to promote exports.
Sec. 32-509. Trade development companies.
Sec. 32-510. Program to attract foreign investment into the state.
Sec. 32-511. Connecticut International Trade Council.
Sec. 32-512. Exporting services database.
Secs. 32-513 to 32-529. Reserved
Sec. 32-500. Definitions. As used in sections 32-500 to 32-512, inclusive:
(1) “Corporation” means Connecticut Innovations, Incorporated;
(2) “Commissioner” means the Commissioner of Economic and Community Development;
(3) “Department” means Department of Economic and Community Development;
(4) “Export” means the sale of goods or services by a business in Connecticut to a person, firm or corporation in another country;
(5) “Financial assistance” means grants, extensions of credit, loans or loan guarantees or combinations thereof;
(6) “Participation fee” means a fee paid to the state to compensate for expenses incurred by the state in organizing a trade show;
(7) “Recruitment” means the recruitment of foreign investment to the state;
(8) “Small and medium-sized company” means a business having not more than two hundred fifty employees;
(9) “State” means the state of Connecticut;
(10) “Success fee” means a fee paid to the department by a company which receives a contract to export goods or services as a result of assistance from the department;
(11) “Trade consortium” means an industry cluster grouping of two or more companies, with or without university partners, working as a unified organization for the purpose of promoting and managing the exports of participating companies;
(12) “Trade development company” means a business that assists small and medium-sized companies in entering foreign markets; and
(13) “Trade representative” means a commercial trade representative in important world markets.
(P.A. 94-237, S. 1, 14; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6; June 12 Sp. Sess. P.A. 12-1, S. 152.)
History: P.A. 94-237 effective July 1, 1994; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of Economic Development with Commissioner and Department of Economic and Community Development; pursuant to June 12 Sp. Sess. P.A. 12-1, “Connecticut Development Authority” and “authority” were changed editorially by the Revisors to “Connecticut Innovations, Incorporated” and “corporation”, respectively, in Subdiv. (1), effective July 1, 2012.
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Sec. 32-501. Commissioner's duties re international trade. State business trade with African countries. (a) The commissioner shall have jurisdiction over the coordination of trade development activities in the state. The commissioner shall initiate, conduct and coordinate the implementation of Department of Economic and Community Development programs to promote and assist Connecticut businesses with international trade. The commissioner shall be responsible for planning, developing and administering such programs and may adopt regulations in accordance with the provisions of chapter 54 to carry out the purposes of this chapter. The Department of Economic and Community Development shall constitute a successor department to the Connecticut International Trade Council in accordance with the provisions of sections 4-38d and 4-39.
(b) The commissioner may give priority in such programs to promoting and assisting Connecticut businesses with regard to trade with African countries with whom the United States has diplomatic relations.
(P.A. 94-237, S. 2, 14; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6; P.A. 97-135, S. 1, 4; P.A. 05-191, S. 9; P.A. 13-299, S. 24.)
History: P.A. 94-237 effective July 1, 1994; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of Economic Development with Commissioner and Department of Economic and Community Development; P.A. 97-135 designated existing provisions as Subsec. (a) and added new Subsec. (b) re assistance to state businesses trading with African countries, effective July 1, 1997; P.A. 05-191 amended Subsec. (b) by deleting obsolete provision re commissioner's submittal of report by January 1, 1998; P.A. 13-299 amended Subsec. (a) to make a technical change and add provision re department as successor to Connecticut International Trade Council, effective July 1, 2013.
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Sec. 32-502. Export extension service program. There is hereby established within the Department of Economic and Community Development an export extension service program for the purpose of awarding, within available resources, a grant to a public, private or nonprofit entity for the purpose of certifying, training and overseeing broker agents who shall have expertise in export transactions and shall provide outreach and technical services to businesses that either have not engaged in exporting or have only recently begun exporting.
(P.A. 94-237, S. 3, 14; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6.)
History: P.A. 94-237 effective July 1, 1994; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of Economic Development with Commissioner and Department of Economic and Community Development.
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Sec. 32-503. Connecticut Innovations, Incorporated export division. (a) Connecticut Innovations, Incorporated shall establish an export division within the corporation. The division shall, within available resources, provide: (1) Working capital loans to small and medium-sized companies which are unable to obtain export financing, (2) access for such companies to existing public and private export lenders and other export funding sources, including, but not limited to, transaction financing, letters of credit, equity investments and loan guarantees, and (3) technical assistance to such companies in obtaining such financing. Such export division may give priority to assisting Connecticut businesses with regard to trade with African countries with whom the United States has diplomatic relations.
(b) On or before January 30, 1998, the corporation shall submit a report to the joint standing committee of the General Assembly having cognizance of matters relating to economic development on the progress of the corporation in carrying out the purposes of this section, including a list of successful transactions.
(P.A. 94-237, S. 4, 14; P.A. 97-135, S. 2, 4; June 12 Sp. Sess. P.A. 12-1, S. 152.)
History: P.A. 94-237 effective July 1, 1994; P.A. 97-135 amended Subsec. (a) to provide that the division may give priority in assisting state businesses with regard to trade with African countries and amended Subsec. (b) to defer report deadline from January 30, 1995, to January 30, 1998, effective July 1, 1997; pursuant to June 12 Sp. Sess. P.A. 12-1, “Connecticut Development Authority” and “authority” were changed editorially by the Revisors to “Connecticut Innovations, Incorporated” and “corporation”, respectively, effective July 1, 2012.
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Sec. 32-504. International trade account. There is established an international trade account which shall be a separate nonlapsing account within the General Fund. The account may contain any moneys required by law to be deposited in the account, including success fees pursuant to section 32-500 and participation fees pursuant to section 32-506, and any other moneys received by the commissioner from other public or private sources for the purposes of sections 32-500 to 32-512, inclusive. The commissioner shall use the moneys in the account for the purposes of sections 32-500 to 32-512, inclusive.
(P.A. 94-237, S. 5, 14; May 25 Sp. Sess. P.A. 94-1, S. 101, 130.)
History: P.A. 94-237 effective July 1, 1994; May Sp. Sess. P.A. 94-1 specified account as separate nonlapsing account within the general fund, effective July 1, 1994.
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Sec. 32-505. International trade representatives. (a) The Commissioner of Economic and Community Development may retain trade representatives in foreign countries to assist Connecticut businesses in finding (1) export customers, agents and distributors and (2) foreign companies to invest in Connecticut.
(b) The commissioner shall, within available resources, establish an international trade representative program to assist Connecticut businesses in exporting their products to foreign markets. On or before October 1, 1994, the commissioner shall establish a registration process for businesses interested in participating in the program. Such process shall include, but not be limited to, a requirement that the business agree to pay, over a three-year period beginning on the date of execution of a contract for an export sale, a success fee of not more than three per cent of the price of the products being sold under such transaction, excluding freight, handling and insurance charges. The department shall deposit such fees in the account established by section 32-504.
(c) The commissioner shall keep a separate accounting of all fees paid from such program and use such accounting as a measurement of export sales achieved through the program. The commissioner may utilize the services of an impartial third party to monitor the sales of program participants.
(P.A. 93-140, S. 1, 3; P.A. 94-237, S. 6, 14; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6.)
History: P.A. 93-140 effective July 1, 1993; P.A. 94-237 designated existing provisions as Subsec. (a) and added Subsecs. (b) and (c) re establishment of international trade representative program, effective July 1, 1994; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of Economic Development with Commissioner and Department of Economic and Community Development.
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Sec. 32-506. Trade shows. The commissioner shall, within available resources, organize the participation of Connecticut businesses at trade shows in major industries and in major markets throughout the world to introduce them to potential customers or representatives. The commissioner may charge such businesses participation fees as compensation for expenses incurred in organizing such trade shows and shall deposit such fees in the account established by section 32-504.
(P.A. 94-237, S. 7, 14.)
History: P.A. 94-237 effective July 1, 1994.
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Sec. 32-507. Trade consortium program. The commissioner shall, within available resources, establish a trade consortium program to facilitate and sponsor the formation of trade consortia to promote and manage the exports of participating businesses. The commissioner may, within available resources, provide “seed” financing for the start-up of such consortia through appropriate and existing financial assistance programs.
(P.A. 94-237, S. 8, 14.)
History: P.A. 94-237 effective July 1, 1994.
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Sec. 32-508. Information and education program to promote exports. The commissioner shall, within available resources, establish a program of information and education to promote exports. Under such program, the commissioner may, within available resources, (1) provide for and coordinate international trade communication channels, such as newsletters and literature, to businesses and other interested parties in the state to increase awareness of state and private services and information available to exporters; (2) make available to exporters and potential exporters data about foreign markets and international trade flows; (3) provide financial support to public and private organizations which can provide international trade information; and (4) cooperate with, and, within available job training resources, provide financial support to, industry associations, educational institutions, the federal government and other public and private organizations to provide education and training concerning international trade and the techniques employed in successful exporting and to coordinate state activity in such education and training.
(P.A. 94-237, S. 9, 14.)
History: P.A. 94-237 effective July 1, 1994.
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Sec. 32-509. Trade development companies. The commissioner shall, within available resources, (1) promote and organize the formation of trade development companies in the state to assist small and medium-sized companies in entering foreign markets and (2) provide a referral service to help such companies locate appropriate assistance.
(P.A. 94-237, S. 10, 14.)
History: P.A. 94-237 effective July 1, 1994.
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Sec. 32-510. Program to attract foreign investment into the state. The commissioner shall, within available resources, undertake a foreign recruitment program to promote the benefits of Connecticut to foreign companies to encourage them to invest in the state. The program may include the coordination of investment missions, seminars and meetings in targeted foreign countries to attract foreign investment into the state.
(P.A. 94-237, S. 11, 14.)
History: P.A. 94-237 effective July 1, 1994.
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Sec. 32-511. Connecticut International Trade Council. Section 32-511 is repealed, effective July 1, 2013.
(P.A. 94-237, S. 12, 14; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6; June Sp. Sess. P.A. 98-1, S. 68, 121; P.A. 13-299, S. 95.)
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Sec. 32-512. Exporting services database. Not later than October 1, 1995, the commissioner shall, within available resources, establish a database of federal agencies, state agencies, financial institutions, export trading companies, insurance companies and brokers, trade specialists, foreign trade representatives, institutions of higher education, law firms and international trade organizations that provide export diagnostic services, marketing services, technical assistance, financing, insurance, legal services, transportation services or other services required to begin or expand exporting. The database shall, for each such entity, include a description of the exporting services provided and the resources and experience of the entity. The commissioner shall make the database available to the public and may impose fees for access to the database. Any such fees received by the commissioner shall be deposited in the international trade account established under section 32-504.
(P.A. 94-237, S. 13, 14.)
History: P.A. 94-237 effective July 1, 1994.
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Secs. 32-513 to 32-529. Reserved for future use.
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