Groton seeks ‘seat at the table’ in awarding tax incentives
Economic Development
Groton is among a group of municipalities seeking a “seat at the table” and more reliable state funding for a program that grants tax incentives to businesses located in areas targeted for economic development.
The town is concerned that the state hasn’t been fully funding tax abatement reimbursements to municipalities under the state’s Enterprise Zone program — and wants a say in the process of awarding the incentives.
A proposed bill, approved last week by the General Assembly’s Finance, Revenue and Bonding Committee, would allow the municipal legislative bodies to vote to opt out of the Enterprise Zone program, though any opt-out wouldn’t affect businesses that already have been approved to receive the benefits.
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