DOING BUSINESS
Incentives & Taxes
The partners in the Greater Bridgeport Area provide resources and assistance to entrepreneurs and businesses, helping them navigate local regulatory processes and access funding opportunities.
A partial listing of available incentives may include: corporate income and property tax exemptions, corporate sales tax exemptions, state and federal enterprise zone benefits, utility benefits, and brownfields tax credits. Businesses considering the Greater Bridgeport Area may also consider the area’s proximity to Research and Development hubs, including Yale University in New Haven, Connecticut, and prestigious institutions in the Boston area, including Harvard and MIT. This allows businesses to access cutting-edge research and foster innovation and technological advancements through collaboration.
Industries in the Greater Bridgeport Area may especially want to consider locations in one of the area’s Enterprise Zones, Opportunity Zones, and Foreign Trade Zone.
The partner communities of the Greater Bridgeport Area are committed to providing businesses with the most current information on the financial incentive programs available to them. Whether it is a local, state, or federal program, we can help you find the right program for your business.
The State of Connecticut offers various business support programs, incentives, and tax credits to attract and retain businesses.
Explore State Incentives
Numerous incentive programs administered by the Connecticut Department of Revenue Services are designed to lessen the tax burden and overall cost of doing business for companies locating, relocating, or expanding in Connecticut.
Tax Credits for Connecticut Business Investments
- Fixed Capital Investment
- Second Insurance Reinvestment Fund
- Machinery and Equipment Expenditure
- Urban and Industrial Site Reinvestment
Tax Credits for Creating Jobs & Developing a Connecticut Workforce
- Apprenticeship Training in
Manufacturing, Plastics, Plastics-related, or Construction Trades - Human Capital Investment
Tax Credits for Film, Television & Digital Media
- Digital Animation
- Film Production
- Film Production Infrastructure
Tax Credits for Research & Development
- Research and Experimental (Incremental) Expenditures
- Research and Development (Nonincremental) Expenses
Special Incentive Tax Credits
- Donation of Land
- Historic Homes Rehabilitation
- Housing Program Contribution
- Electronic Data Processing Equipment Property Tax
- Historic Rehabilitation
- Neighborhood Assistance Act Program
- Student Loan Payment
JobsCT Tax Rebate Program
Since adopted in 2022, Connecticut’s JobsCT Tax Rebate Program is designed to provide refundable tax credits for companies in targeted industries that are increasing their workforce in Connecticut. Generally, the rebate is $2,000 per new job created, or 25% of the income tax withholdings that would be paid on the average wages of the new positions.
The percentage may increase to 50% of income tax withholdings for jobs created in opportunity zones or distressed municipalities as defined by the state. In the Greater Bridgeport Area, Bridgeport and Stratford have targeted opportunity zones and Bridgeport is identified by the state as a distressed municipality.
Rebates will not be granted for more than seven successive calendar years. Companies may use the rebates as a credit against the corporate business tax or pass-through entity tax; or as an offset against the insurance premiums tax.
To qualify, companies must:
- Be engaged in economic-based industries, particularly those involved in manufacturing, corporate headquarters, life sciences, entertainment/digital media, clean energy, insurance/financial services, R&D facilities, aerospace/defense, and information technology sectors
- Must employ at least 25 new full-time employees (who must work or be expected to work at least 1,750 hours in a calendar year) in the year immediately prior to the calendar year in which the rebate is being claimed
- Must pay the new employees wages that are equal to the greater of $37,500, or 85% of the median household income for the location where the job is primarily located.
Connecticut Innovations
Connecticut Innovations (CI) is the state’s strategic venture capital arm and is the leading source of financing and ongoing support for innovative, growing companies by offering equity investments, strategic guidance, and introductions to valuable partners.
CI can act as a conduit for a sales and use tax exemption for a company’s anticipated qualifying capital equipment and/or construction materials, relieving the company and/or developer from the state’s 6.35% sales tax, up to the CI Board-approved amount.
Taxes
Connecticut has a 7.5% corporate tax rate and a 6.35% sales tax rate.
Licenses/Permits
If you are conducting business in the State of Connecticut under any designation, name, or style, corporate or otherwise, or an assumed name other than your real name, you must file a Trade Name Certificate in the town where the business is being transacted:
Additional State of Connecticut business licensing and registration may be required for a new business. For information on state licensing and requirements visit:
- Connecticut Secretary of State For corporations, LLCs, LPs and other partnerships, etc.
- Dept. of Administrative Services (DAS) For construction, crane operators, fire codes, small businesses, etc.
- Dept. of Agriculture (DoAG) Dairy, livestock and poultry, agricultural, and pet licenses, etc.
- Dept. of Consumer Protection (DCP) For construction-related, food and beverage, drug manufacturers, pharmacies, real estate, telecommunications, etc.
- Dept. of Developmental Services (DDS) Community companion and living arrangement licenses, medication administration certification, etc.
- Dept. of Energy and Environmental Protection (DEEP) For environmental, air quality, land use, water, waste, recycling, remediation, pesticides, etc.
- Dept. of Motor Vehicles (DMV) For driver's license renewals, vehicle registrations, transfer of ownership, plate cancelations, etc.
- Dept. of Transportation (DOT) For trucking, traffic, advertising and signage, and public transportation permits, etc.
- Dept. of Public Health (DPH) Drinking water, environmental, emergency medical services, healthcare facilities, and restaurants, etc.
- Dept. of Revenue Services (DRS) Manufacture of cigarettes and other tobacco products, vending licenses, etc.
For more information and resources, visit our Business Resources page.