Incentives and Financing

Airport Development Zone

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.

Airport Development Zone Boundary Map

Contacts

Paige Bronk

Economic and Community Development Manager

Town of Groton

134 Groton Long Point Road
Groton, CT 06340

Phone: 860-446-5960

pbronk@groton-ct.gov

Category: Incentives

More Incentives

The Additive Technology Adoption Program (AMAP) seeks to infuse additive manufacturing technologies into the production processes of Connecticut manufacturers.   A program of the Connecticut Manufacturing Innovation Fund, the AMAP program is a partnership of the state Department of Economic and Community Development (DECD) and the Connecticut... 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
Whether you are a small business, commercial developer or entrepreneur, we are here to help locate or expand your business in Groton. This guide is an overview of business incentives and assistance resources. Learn More
Financing solutions for technologies such as high-efficiency lighting, HVAC upgrades and renewable energy systems. Programs include: New Construction/Gut-Rehab Energy Efficiency/Deferred Maintenance Historic Tax Credits Go to greenworkslending.com or cpace.com 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 (http://ciclending.com/) in Connecticut. This loan program offers financial and technical assistance to help small businesses adapt... 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 LRiquier@qvcc.commnet.edu, 860-455-1555 or go to ewib.org. Details about the program can be found here. Learn More
Financial support for public infrastructure associated with new development projects. Example uses include: Utility line extensions Sidewalks/Road Improvements Traffic control/street lighting Complete guidelines can be found here. To apply, contact Paige Bronk, 860-446-5960 Learn More
Save energy and reduce your energy bills with incentives, rebates, financing and services for energy efficiency and clean energy improvements. Go to energizect.com. Learn More
Companies involved in manufacturing, research associated with manufacturing and distribution warehousing (new construction/expansion only) as well as certain service companies that develop properties in an Enterprise Zone or a zone that is eligible for Enterprise Zone-level benefits will receive: a five-year,... 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
Foreign Trade Zones (FTZ) are designated areas which are considered outside of U.S. Customs territory. Companies that operate in FTZ designated areas can defer, reduce, or eliminate customs duties on foreign products that are brought into the zones for storage, exhibition, assembly, manufacture, and processing. Customs... Learn More

This grant program is intended to help Connecticut supply chain companies with the adoption and integration of IoT solutions. The program will provide matching grants up to $20,000 for hardware, sensors, platforms, and related third-party integration services.

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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 patricia.paesani@ct.gov 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 bernice.zampano@ct.gov for further assistance with the program. More details,... Learn More
To help keep pace with state-of-the art product development and manufacturing technology, the Manufacturing Innovation Fund Voucher Program provides companies with access to capital to help them obtain new equipment and the expertise they need to become more efficient, productive, and competitive. Up to... Learn More

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.

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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 trade... Learn More
To support economic development, the Town of Groton may consider the creation of and adoption of Tax Increment Financing (TIF) Districts. TIF is a financing tool that can be used by municipalities to invest in economic development. It allows some or all of public and/or... Learn More