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The Economic Development Division works with
industrial companies, commercial service firms
and chain retailers to retain and create new
jobs and spur investment in the city by
identifying and delivering resources from a wide
variety of service providers, including banks,
State of Connecticut development agencies,
electric and gas utilities and various workforce
development agencies. Site selection assistance
is provided to businesses and their real estate
representatives to ensure that Hartford is
considered for expansion and recruitment
opportunities. For more information on economic
development opportunities and initiatives in
Hartford, contact
Wayne
Benjamin.
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 Hartford: The
Right Location
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Hartford is a
two- hour drive to Boston and New York
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Hartford has access to 100 million customers
within an 8-hour drive
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Headquarters for
3 Fortune 100 companies
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Hartford has an
educated, productive workforce
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Connecticut
students rank # 1 in the nation in
standardized test in math, writing and
reading
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Connecticut leads
the nation in high school completion rates
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Hartford: Connected
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Hartford is the
12th most wired US city and ranks in the top
60 for cyber cities with high bandwidth
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Bradley
International Airport is one of the fastest
growing and most user friendly airports in
the nation
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Bradley
International serves as the distribution hub
for UPS and is the regional center for
Federal Express and the U.S. Postal Service.
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Bradley
International Airport has a Foreign Trade
zone and its cargo security ranks in the top
5 nationally.
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Financial Resources
Project Managers work
with businesses and developers to address
funding gaps in eligible projects through
various local, state and federal government
programs, for examples: Examples of such
programs are:
Municipal Programs
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Tax Fixing
Agreements: The City may provide property
tax relief to eligible developmental
projects, under Conn. Gen. Stat. § 12-65b
and 12-65h,
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Tax Increment
Financing (TIF): TIFS may be used to support
large-scale economic development projects,
whereby the proceeds of City issued revenue
bonds are used to fund a project. A portion
of the incremental tax revenue resulting
from the completed project is then used to
service the debt. For more information on
the City’s TIF Policy,
click here
State Programs
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Enterprise Zone/
Targeted Investment Community (TIC): As a
designated TIC, manufacturers that relocate
to Hartford or expand in the city are
eligible for a 5-year, 80% property tax
abatement and a 25-50% corporate tax credit.
For more information regarding eligibility
and benefits, click here.
www.ct.gov/ecd/cwp
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Urban
Reinvestment Credit (URI): A tax credit for
investments in eligible urban reinvestment
projects through the Department of Economic
and Community Development (DECD). Dollar for
dollar credits on up to 100% of the
investment up to a maximum of $100 million
may be awarded. If approved, credits may be
claimed over a 10-year period. For more
information see Conn. Gen. Stat. § 32-9t.
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Sales and Use Tax
Exemption: Sales and use tax relief on the
purchase of tangible personal property for
qualifying retention and expansion projects
or projects that significantly contribute to
a targeted industry cluster. The minimum
investment in eligible property must equal
$5 million and a total award must not exceed
$10,000 per new job created and $2,000 for
each retained position. For more
information, click here.
DECD Tax Incentives
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For a complete
listing of State tax credits and business
incentives, click here.
www.youbelonginConnecticut.com
Federal Programs
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SBIR: The U.S.
Small Business Administration (SBA)
administers a federal grant aimed at
promoting and sustaining small business
development innovations and solutions for
various federal agencies, such as defense,
energy and health.
For more information, click here
www.ctsbir.com
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