To support manufacturing projects that offer strong economic development potential, the State of Connecticut passed the Manufacturing Assistance Act, which funds direct loans to growing, eligible economic-based businesses.
This funding can be used to support a variety of initiatives, including:
- planning for feasibility studies, engineering, appraisals, market studies and related activities;
- acquisition of real property, machinery or equipment or any combination, provided such assistance does not exceed the fair market value;
- construction of site and infrastructure improvements relating to a business development project;
- construction/renovation/demolition of buildings;
- relocation expenses for the purpose of assisting manufacturing or other economic-based businesses to locate, construct, renovate or acquire a facility;
- working capital for a business development project;
- business support services such as labor training, day care, energy conservation, pollution control, recycling and the like, in conjunction with other state agencies.