ProgramFinder: Enterprise Zone Program and Enterprise Corridor Zone Program

Enterprise Zone Program and Enterprise Corridor Zone Program - DECD

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Agency: Department of Economic and Community Development (DECD)

Program Description:
80 percent tax abatement on real and personal property for five years; and a 25 percent or 50 percent state corporate business tax credit for 10 years. Enhanced state corporate business tax benefit is subject to meeting a minimum hiring threshold.

Intent is to make it attractive for manufacturers and certain designated service sector firms already located in an Enterprise Zone or Enterprise Corridor Zone to reinvest in that area and to attract new eligible businesses to stimulate job creation in those communities.

Available to manufacturers and certain qualifying service sector firms in the Enterprise Zones, the Northeast Enterprise Corridor Zone, Route 8 Enterprise Corridor Zone, and Upper Naugatuck Valley Enterprise Corridor Zone.

Traditional Enterprise Zones are located in the following Targeted Investment Communities: Bridgeport, Bristol, East Hartford, Groton, Hamden, Hartford, Meriden, Middletown, New Haven, New Britain, New London, Norwalk, Norwich, Southington, Stamford, Waterbury, and Windham (Willimantic)
Non-targeted Investment Community Enterprise Zones have been designated in Bloomfield, Plainville and Stratford
Northeast Corridor communities include Griswold, Killingly, Lisbon, Plainfield, Putnam, Sprague, Sterling and Thompson
Route 8 Corridor towns are - Ansonia, Beacon Falls, Derby, Naugatuck and Seymour
Upper Naugatuck Valley Enterprise Corridor Zone - Winchester and Torrington

The program is geared toward manufacturing and certain service sector businesses as well as research and development related to manufacturing and non-retail distributors of manufactured products. Eligible facilities include newly constructed facilities, older facilities idle for at least one year prior to being acquired through lease or purchase, and facilities that are substantially renovated or expanded. Also, must generally have a standard industrial code 2000 to 3999 or North American Industry Classification(Sector 31-33), unless otherwise specified.

Leased facilities must be for a minimum initial term of five years with a renewable option for five years or the option to purchase within the first five years. (Three-year lease with three year option for companies with less than 10 employees.)

Program Region: Ansonia, Beacon Falls, Bloomfield, Bridgeport, Bristol, Derby, East Hartford, Griswold, Groton, Hamden, Hartford, Killingly, Lisbon, Meriden, Middletown, Naugatuck, New Haven, New Britain, New London, Norwalk, Norwich, Plainfield, Plainville, Putnam, Seymour, Southington, Sprague, Stamford, Sterling, Stratford, Thompson, Torrington, Waterbury, Winchester, Windham (Willimantic)

Program Contact(s):
Anne Karas
505 Hudson Street
Hartford, CT 06106
Phone: (860) 270-8143
Fax: (860) 270-8055
anne.karas@po.state.ct.us
www.ct.gov/ecd/cwp/view.asp?a=1099&q=249764

For More Programs on State Agency Resources, Tax Credits and Incentives, Manufacturing:

Other Programs Available From This Agency:

Agency Profile

Agency: Department of Economic and Community Development (DECD)

Mission: To make Connecticut an unparalleled place for people to live, work, learn and play by providing quality technical and financial assistance in the areas of housing and economic development to businesses, local government and community organizations.

Contact Information:
505 Hudson Street
Hartford, CT 06106
Phone: (860) 270-8000
www.decd.org

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