Connecticut Senate Majority Leader Bob Duff (D-Norwalk) joined Syd Kain, President of Sovereign Home Health Connecticut, at the company’s Norwalk headquarters to tout the state’s InvestCT program (formerly the Insurance Reinvestment Fund) which helped Sovereign Home Health create 40 jobs.

“InvestCT is a little known initiative that is successfully creating jobs in Connecticut,” said Sen. Duff. “Nearly 100 small businesses have utilized InvestCT to create and retain more than 2,600 jobs. For every $1 dollar of tax credit invested, $2.21 is returned to the state. This is another example of how we are moving Connecticut’s economy forward.” InvestCT allows insurance companies to earn tax credits based on investments they make in high growth Connecticut businesses. The program targets investments in green energy, manufacturing and growth in urban centers. In order for the insurance companies to receive the tax credit, the businesses they invest in must reach predetermined job creation and retention goals.

“Because of Enhanced Capital and InvestCT program, we were able to put Sovereign Home Health of Connecticut on a growth course,” Kain concluded.

Since 2010, the program has dispersed the original $200 million fund with nearly 100 companies participating in the program. Over 2,600 jobs have been created and retained in the state. Ninety-eight percent of all of the jobs created and retained by InvestCT offer healthcare and an average annual salary is $60K.