Local & State Business Incentive Programs

Plainville wants to help you grow. Whether you are already located in Town or want to relocate to Plainville, we offer several business incentive programs:

EDA Revolving Loan Program: The Town’s Economic Development Agency (EDA) can consider business loans up to $50,000 to help small businesses start up, expand, or relocate to Plainville. The loan program can be used for a variety of purposes including beautification efforts, plant expansion, capital purchases, employee hiring and more. A more in-depth program narrative can be found here, and an application can be found here.

EDA Tax Incentive Program: The Town’s Economic Development Agency (EDA) offers a tax abatement program to attract new business and industry to the Town. Abatements are applied to local taxes on real property. Within limits established by State statute, members of the EDA can vote to propose an abatement percentage based on the amount of business investment, job creation, site use, future tax value, and overall benefit to the Town. A more in-depth program narrative can be found here, and an application can be found here.

State of CT Tax Incentive Program: The State of Connecticut has established Enterprise Zones in certain areas of Towns. Plainville offers two such Enterprise Zones; a Contiguous Municipality Zone and a Bioscience Zone. Please click each respective link to read more.

A map of the Contiguous Municipality Zone can be found here. Focusing on manufacturing and/or distribution warehousing, businesses may benefit from a five-year, 80% property tax abatement; and a 10-year, 25% business tax credit.

A map of the Bioscience Zone can be found here. Focusing on manufacturing, research associated with manufacturing, or distribution warehousing of items involved with the study of genes, cells, tissues and chemical and physical structures of living organisms, businesses may benefit from a five-year, 80% property tax abatement; and a 10-year, 25% business tax credit.

 

For any questions regarding the above applications, please contact the Economic Development Coordinator, Cal Hauburger, by email or at 860-793-0221 x7178.