Tax & Financial Incentives in Connecticut
Enterprise Zone and Target Investment Community Incentives
Eligible businesses in eligible communities may qualify for:
- A 5-year, 80% abatement of local property taxes on qualifying real estate and personal property that is the direct result of a business expansion or renovation project.
- A 10-year, 25% credit on that portion of the corporate business tax directly attributable to a business expansion or renovation project as determined by the CT Department of Revenue Services. The credit may increase to 50% based on the number of new jobs created.
Additional Zones Eligible for Enterprise Zone-Level Benefits
- Bradley Airport Development Zone: This zone establishes tax incentives for manufacturers and certain related businesses that build or substantially renovate facilities in the area and create new jobs. The zone includes specified census blocks within the towns of East Granby, Suffield, Windsor and Windsor Locks.
- Bioscience Enterprise Corridor Zone: This zone is for eligible businesses with not more than 300 employees at any time during the preceding 12 months and engaged in bioscience, biotechnology, pharmaceutical or photonics research, development or production in CT. Enterprise zone-level benefits include certain businesses and commercial properties in certain census blocks, groups and tracts in Farmington, Hartford, Bristol and New Britain.
For more information, visit the Connecticut Department of Economic & Community Development.
Category: Business, State
More Business, State