As part of its extensive Enterprise Zone programs, the State of Connecticut encourages the development of biotech businesses and related properties in targeted geographical areas.
Key Incentives for Businesses
For qualifying manufacturers: Companies involved in manufacturing, research associated with manufacturing and distribution warehousing (new construction/expansion only) may benefit from:
- a five-year, 80% property tax abatement; and
- a 10-year, 25% business tax credit.
For qualifying service companies: Certain service companies may also be eligible for these benefits based on several sliding scales:
- If they invest $20-90 million: a five-year, 40% property tax abatement on real estate and/or equipment; or
- if they invest more than $90 million: a five-year, 80% property tax abatement on real estate and/or equipment.
- If they create 300-599 jobs: a 10-year, 15% business tax credit; up to
- if they create 2,000+ jobs: a 10-year, 50% business tax credit.
- 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;
- are located in certain census blocks, groups and tracts in Farmington, Hartford, Bristol, New Britain and Plainville.
*Bioscience businesses are defined as those involved in the study of genes, cells, tissues, and chemical and physical structures of living organisms.
How to Apply
- Before starting any project, the business must first submit a formal request — preferably through the local economic development office for the town.
- That application — along with any additional required documents — must be submitted to the Department of Economic and Community Development (DECD) prior to October 1 of the year in which the project will be completed.
- If approved, DECD will issue a Certificate of Eligibility within a few weeks.
Several municipalities have already been designated as a Bioscience Enterprise Zone. For additional information about developing properties in these areas, we encourage you to reach out to the appropriate contact below.
Bristol Development Authority
111 N Main Street #6
Bristol, CT 06010
Fax: (860) 584-7800
Economic Development Director
Town of Farmington
1 Monteith Drive
Farmington, CT 06032-1053
Fax: (860) 675-2319
Director, Community and Small Business Development
City of Hartford Department of Development Services
250 Constitution Plaza, 4th Floor
Hartford, CT 06103-1822
Fax: (860) 722-6402
Business Development Coordinator / Director
Economic Development Office
27 West Main Street. Rm. 209
New Britain, CT 06051
(860) 229-1665 x12
Fax: (860) 223-8341
Interim Director of Planning and Economic Development
Town of Plainville
One Central Square, Room 100
Plainville, CT 06062
(860) 793-0221 ext. 330
Fax: (860) 793-2285