Opportunity Zone

Groton contains one of Connecticut’s 72 Opportunity Zones, which are designated around historically underserved census tracts. Opportunity Zones offer an incentive for development as capital gains taxes derived from qualified investments are deferred for up to ten years, depending on when the initial investment is made. Investments are made through opportunity funds, which encourage investors to pool their resources and increases the scale of the investments.

Opportunity funds may invest equity into businesses, real estate, or infrastructure that are located mostly or fully within the Opportunity Zone. Real estate projects should either be new development or substantial renovation of an existing building and can include multi- and single-family housing, commercial, retail, industrial, and mixed-use developments.

Business investments can include any company willing to take equity investors either as control or non-control positions. Qualified businesses must operate within the Opportunity Zone (at least 70% of their operations) and derive most of their revenues from sales within the Opportunity Zone (at least 50% of their sales). Energy efficiency and renewable energy projects can also qualify and may derive their appreciation value from reliable long-term cash flow.

A detailed overview of the program is presented in the audio program 'Investing in Connecticut's Opportunity Zones'.

For more information, contact Paige Bronk, or 860-446-5960.

Category: Incentives

More Incentives

This program provides tax incentives for manufacturers and certain related businesses that build or substantially renovate facilities in the Groton-New London Airport area. For details, refer to the Groton-New London Airport ADZ Overview. Learn More
Low-interest loans for brownfield investigation, assessment, remediation and development. Available for manufacturing, retail, residential or mixed-use developments, expansions or reuses. Contact Paige Bronk, 860-446-5960 Learn More
Financing solutions for technologies such as high-efficiency lighting, HVAC upgrades and renewable energy systems. Go to or call 860-257-2176. Learn More
The U.S. Small Business Administration (SBA) is offering a new financial assistance loan expressly for existing small and start-up businesses in underserved areas through the Community Investment Corporation ( in Connecticut. This loan program offers financial and technical assistance to help small businesses adapt to changin... Learn More
Wage and training subsidies to promote the hiring of unemployed jobseekers.  Six-month wage subsidy or training grants of up to $12,500 available per new employee. Contact the Linda Riquier at, 860-455-1555 or go to Details about the program can be found here. Learn More
Save energy and reduce your energy bills with incentives, rebates, financing and services for energy efficiency and clean energy improvements. Go to Learn More
Residential and non-manufacturing commercial property in the Enterprise Zone which is either newly constructed or rehabilitated is eligible for graduated deferral of assessment increases over a seven-year period. Learn More
Tax abatements and fixed assessments targeted towards projects with high anticipated job-creation or other economic benefits.   Eligible uses include: Construction, Expansion and Renovation Facilities & Manufacturing Machinery Equipment Upgrades Contact Paige Bronk at 860-446-5960 Learn More
Incentive-driven direct loans for projects when there is a strong economic development potential. Eligible investments include: Planning, engineering, market studies, etc. Acquisition of property or equipment Construction, renovation, demolition Contact Tricia Paesani at 860-270-8215 or Learn More
Matching (50%) grants for training projects that equip workers to begin or advance their careers—targeted towards economically vital industries with high-growth occupations, e.g., Adv. Manufacturing, Bioscience. Please contact Bernice Zampano at (860) 263-6732 or via email at for further assistance with the program. More details, as wel... Learn More
Up to $25,000 matching grant for investments in process improvement or marketing. Contact Ann Chambers at 860-437-4659 or More details can be found at this link. Learn More
The State Trade Expansion Program (STEP) grant is designed to help Connecticut’s small business community thrive in the global marketplace by increasing the value of small business exports, increasing the number of businesses that export and increasing the number of businesses exploring significant new trad... Learn More