During the 19th century, Connecticut was home to thriving mills and factories that manufactured textiles for edging tools and cars. Now, aerospace, bioscience, and other technological ventures pave our path to the future and add to an economic base that still includes farms and businesses that are more than a century old. From Waterbury Buttons and Timex, to Subway and Sikorsky, the list of major companies that are headquartered in Connecticut continues to grow.
Connecticut businesses are creating jobs, increasing productivity, and capitalizing on growth opportunities here and globally. Our unemployment rate is at an 8-year low. According to Bloomberg, we are the 5th most innovative state in the country. We have a diverse economy with a long history of innovation and invention.
Connecticut's workers are among the most productive in the nation, ranking 4th among states. CNBC’s 2016 America’s Top States for Business rankings put Connecticut in the Top 20 for our workforce productivity, education system, and technology and innovation. Connecticut has a highly educated workforce ranking third for an adult population with advanced degrees.
What Have We Done to Help Businesses in Connecticut?
Small Business Express
Is your small business creating new jobs in precision manufacturing, business services, green tech, bioscience or IT? Then Connecticut’s Small Business Express Program might be right for you!
If your business has operations in or plans to relocate to Connecticut and employs less than 100 workers, you may be eligible for $10,000 to $300,000 in loans and matching grants to purchase machinery and equipment, start construction, get training or cover other business-related expenses. Visit www.decd.org and click on the Small Business Express banner to find out more.
Entrepreneur Learner’s Permit
The Entrepreneur Learner’s Permit program provides up to $1,500 in reimbursements for first-time entrepreneurs in IT, biotechnology, and green technology.
Only fees paid after July 1, 2016 will be eligible for reimbursement, please visit ctnext.com/entrepreneur-learners-permit to see if you qualify.
Growth Company Grants
CTNEXT Growth Company Grants of up to $25,000 are available for promising start-ups to pursue projects in a variety of areas.
Eligible companies must be
- Incorporated for 10 years or less
- Able to raise private capital
- And show annual gross revenue increases of 20 percent over the last three years
*Grants require a one-third match and match dollars must come from external, non-state sources.
Unlock your potential with a Growth Company Grant from CTNEXT! Visit http://ctnext.com/growth-company-grants for details.
2017 Proposed Bills
HB 5583 - AN ACT EXPANDING INVESTMENT ELIGIBILITY UNDER THE ANGEL INVESTOR TAX CREDIT PROGRAM
A successful company is nothing more than a group of people willing to invest in an idea. Most business owners have no trouble investing their time and effort, yet they sometimes struggle to find the financial backing required to get their ideas off the ground. This bill allows accredited investors who seek to consult and mentor prospective small business owners to contribute to a fund established to support the growth of small businesses.
HB 5584 - AN ACT CONCERNING THE CREATION OF A SMALL BUSINESS HOTLINE
Running a small business is hard work. We must give entrepreneurs the tools and resources they need to succeed. This bill creates a statewide information hotline providing prospective and existing small business owners with customized advice, education, and network resources.