OverviewAs part of its extensive Enterprise Zone programs, the State of Connecticut encourages the development of biotech businesses and related properties in certain census tracts in areas along Interstate 84.
Key Incentives for BusinessesFor qualifying manufacturers: Companies involved in manufacturing, research associated with manufacturing and distribution warehousing (new construction/expansion only) may benefit from:
- a five-year 80% abatement of local property taxes on qualifying real estate and personal property (machinery and equipment)—the investment must be new to the municipality’s Grand List as a direct result of a business expansion and/or renovation, and
- other benefits as stipulated in the Connecticut General Statutes.
Statutory ReferenceSec. 32-41s. Bioscience, biotechnology, pharmaceutical and photonics businesses. Benefits. Regulations.
This zoning can benefit those Connecticut businesses that meet the following criteria:
- are willing to renovate an existing facility by investing at least 50% of its pre-acquisition value in the renovation, OR construct a new facility, OR expand an existing facility, OR acquire a facility that has been idle (minimum period of idleness depends on average number of employees);
- are engaged in bioscience*, biotechnology, pharmaceutical or photonics research, development or production;
- have had no more than 300 employees at any time during the preceding 12 months;
- locate within specific census blocks in the following municipalities along Interstate 84: Bristol, Farmington, Hartford, New Britain, or Plainville.
How to Apply
Benefits offered through Connecticut Innovations vary from below; Please see the Connecticut Bioscience Innovation Fund.
For businesses seeking tax incentives and other benefits: Across all cities and towns that are approved by the DECD to participate in the Enterprise Zone program:
- Before starting any project, the business must first submit a formal request through the local economic development office of the municipality in order to obtain a Preliminary Questionnaire.
- If pre-qualified, the business would receive from the DECD a formal application and an invitation to apply.
- The business submits a complete application with required documentation to the DECD prior to October 1 of the year in which the project will be completed.
- If approved, DECD would issue a Certificate of Eligibility.
To view the designated municipal Enterprise Zone coordinators for this zone type, please refer to the Contact section.