Overview
This program provides tax incentives for manufacturers and certain related businesses that build or substantially renovate facilities in the Bradley International Airport area.
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;
- if they create 2,000+ jobs: a 10-year, 50% business tax credit.
Eligibility
A variety of different types of businesses may be eligible for these incentives, including those that:
- manufacture, process or assemble raw materials or parts;
- perform manufacturing-related research and development; or
- significantly service, overhaul or rebuild industrial machinery and equipment;
- warehouse and transport freight (as long as the business is dependent on goods shipped by air);
- provide business services, including information technology services, directly related to airport operations.
Since these programs are designed to encourage capital improvements to land and/or buildings, businesses must be prepared to either 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).
Note: if the applicant is leasing this qualifying facility, the lease must be for at least five years with the option at that point to either 1) renew the lease for an aggregate term of not less than 10 years or 2) buy the facility.
This zone, which is located around Bradley International Airport, will include specified census blocks within the towns of East Granby, Suffield, Windsor and Windsor Locks.
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 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.
Contacts
EAST GRANBY
James Hayden
First Selectman
East Granby Town Hall
9 Center Street P.O. Box 1858
East Granby, CT 06026
(860) 653-2576
Fax: (860) 653-4017
jimh@egtownhall.com
SUFFIELD
Bill Hawkins
Suffield Town Planner
230 C Mountain Road
Suffield, CT 06078
(860) 668-3848
Fax: (860) 668-3327
bhawkins@suffieldct.gov
WINDSOR
Jim Burke
Economic Development Director
275 Broad Street
Windsor, CT 06095
(860) 285-1877
Fax: (860) 285-1809
burke@townofwindsorct.com
WINDSOR LOCKS
Jennifer V. Rodriguez, AICP
Town Planner, Director of Planning and Development
Town Hall
50 Church Street
Windsor Locks, CT 06096
(860) 627-1447
Fax: (860) 292-1121
jrodriguez@wlocks.com