Enterprise Zone

Connecticut Urban Enterprise Zones & Enterprise Corridor Zones

Enterprise Zones were created to encourage the reuse of established industrial areas of the state. Businesses can take advantage of a complete package of state and local incentives, electric utility economic development rates, and the generally more affordable rents in these older industrial areas.

The Connecticut Department of Economic Development, in partnership with participating local communities, provides companies with a Certificate of Eligibility for Enterprise Zone Benefits.

The following benefits are available to assist the growth of sound business and residential development to firms that move to or expand within an Enterprise Zone.

Benefits:

Manufacturing & Service Businesses

  • A five-year 80% abatement of local property taxes on real estate improvements and personal property acquisitions.
  • A ten-year 50% corporate business tax credit, and a grant up to $1,500 per position, when at least 30% of new employees are either residents of the zone or eligible for federal job training subsidies. The maximum grant is $75,000.
  • Exemption from state real estate conveyance taxes and sales taxes on manufacturing replacement parts.
  • Job training and placement assistance.
  • Commercial & Residential Building Owners
  • Minimum seven-year graduated tax deferral of increased taxes resulting from real property improvements. The income of occupants of residential properties must not exceed 200% of the median incomes of the municipalities.
  • Exemption from state real estate conveyance taxes.
  • Additional local abatements may apply, but must be negotiated up front.
  • Electric Utility Rates
  • Special Economic Development Rates and Riders may apply to businesses locating within Enterprise Zones. Businesses that qualify are eligible for discounts on electric rates.

Eligibility

Businesses:

  • Manufacturers – SIC code numbers from 2000-3999.
  • Service Industries – Companies providing direct service to the public are not eligible.
  • Businesses in the Enterprise Zone making significant investment in facility renovation or expansion.

Buildings:

  • Must be either newly constructed or substantially renovated or expanded, or facility must be acquired by new owners after being idle for a minimum period of time, generally one year.
  • May be acquired by purchase, or by lease for a certain minimum term.
  • Should the company decide to move within that term, the existing Certificate of Eligibility stays with the building if new occupants move in within 90 days.

Urban Jobs Program

  • Available to eligible companies that operate in Targeted Investment Communities (any community with an Enterprise Zone), but are not located within the Enterprise Zone. Groton & New London are targeted investment communities.
  • A ten-year 25% corporate business tax credit. Also provides many of the incentives offered by an Enterprise Zone location.

The following towns along the I-395 Corridor are in the Enterprise Zone: Griswold, Killingly, Lisbon, Plainfield, Putnam, Sprague, Sterling and Thompson.

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