Connecticut

Connecticut offers a range of incentives to encourage job creation and economic growth, especially for small businesses that are expanding their workforce. Programs like the JobsCT Tax Rebate Program provide significant tax rebates for companies creating new jobs, while other options like the seCTerRise Grant Program offer direct financial support to help small businesses grow in Connecticut.

Small business grants in Connecticut

JobsCT Tax Rebate Program

• Purpose: Encourages private sector job creation across Connecticut.
• Eligibility: Businesses creating at least 25 new full-time jobs, with a minimum wage of $37,500. Salaries must be at least 85% of the median household income in the job location’s municipality.
• Benefit: 25% tax rebate on withholding taxes from new employees; 50% rebate for employers in Distressed Municipalities or Opportunity Zones.
• Application process: Apply through the Connecticut Department of Economic and Community Development (DECD).
• More info: Visit the DECD website for eligibility and application guidelines.

seCTerRise Grant Program

• Purpose: Supports small business growth in southeastern Connecticut, with grants specifically targeted at fostering local economic development.
• Eligibility: For-profit businesses registered in specified southeastern Connecticut towns, in good standing with the Connecticut Department of Revenue Services.
• Benefit: Grants of $10,000 or $25,000 to help small businesses expand and create jobs.
• Application process: Applications open March 1, 2024.
• More info: For details, visit the seCTerRise Grant Program website.

Connecticut grants for small businesses

Connecticut provides valuable resources for small businesses looking to expand and create jobs. Programs like the JobsCT Tax Rebate Program and seCTerRise Grant Program offer financial support through tax rebates and grants, making it easier for Connecticut companies to invest in their workforce and community.

Other relevant programs in Connecticut

• Small Business Express Program: Offers loans and grants to help Connecticut-based small businesses with job creation and growth. Applications are available through DECD.
• Connecticut Small Business Boost Fund: Provides low-interest loans up to $150,000 to support small businesses with fewer than 50 employees and annual revenue under $3 million.

Helpful websites for small businesses in Connecticut

To get the most current and accurate information about grants, tax credits, and training programs specifically for small businesses in Connecticut, it's recommended to contact these organizations directly or visit their websites. They can provide up-to-date details on available programs, eligibility requirements, and application processes.