A business or developer that will add significant new economic activity, increase employment in a new facility and generate significant additional tax dollars to the municipality and state are eligible for tax credits from the state. Minimum investment of $5 million or $2 million if the project involves the preservation of a historic facility for mixed use that includes at least 4 housing units.
The Urban Jobs program offers enticing incentives for businesses who are located in Stamford, but outside the Enterprise Zone. Benefits may include local property tax abatement and a reduction in the State corporation business tax. Eligible projects include manufacturers, warehouse distributors, and certain designated service-related businesses.
Entertainment-related businesses may be offered additional benefits for beginning, relocating or expanding their business within the entertainment district of Stamford. Eligible businesses may include manufacturing, communications, wholesale, retail, and general services related to the entertainment industry.
Businesses planning to develop in brownfield locations are eligible for a variety of benefits, including negotiable low-interest, long-term loans, up to $4 million in grants, and a special fund for environmentally friendly dry cleaning businesses.