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Photo of Senator Carlo Leone.

STATE SENATOR

Carlo Leone

Integrity & Collaboration

Standing Up for Business Growth

This week, I sat down for about an hour in a high-rise in Stamford with my colleague Senator Bob Duff and with Bob LaPenta, the CEO of Revolution Lighting Technologies in Stamford, which is doing great work in Stamford, in Connecticut, and across the country in LED lighting technology.

Greenbank

We talked about a number of subjects, including how the Republican state budget for Connecticut raids the state’s Green bank of $26 million over the next two years. None of us believe that’s wise.

The Connecticut Green Bank is America’s first green bank. It was established by the Connecticut General Assembly in 2011 to achieve cleaner, less expensive, and more reliable sources of energy while creating jobs and supporting local economic development. The Republican budget also takes money out of Connecticut’s energy efficiency fund.

One of Revolution Lighting’s subsidiaries received 90 percent of its revenue in 2016 from Connecticut’s energy efficiency programs. LaPenta calls the Green Bank a “terrific program” and believes that cutting it would damage the state—reducing money-saving energy-conservation measures at large and small businesses that could be used to hire more people. “You should protect these dollars,” LaPenta told me.

That’s just one of the many reasons why I oppose the proposed Republican state budget, and why I’m asking my leaders to work on a truly bipartisan spending plan that maintains our state investments in pro-business, pro-jobs programs like the Green Bank.