Business Incentives

The Office of Economic Development works closely with companies to address their short and long-term business needs, and strengthen their overall competitiveness in the global marketplace.

We partner with the CT Department of Economic and Community Development to offer incentives to new and expanding business in Stamford, and will act as a guide to companies interested in taking advantage of them.

State Incentives

Enterprise Zone
This attractive business incentive program was initially established to encourage development and re-use of rehabilitated industrial areas.  Under this CT DECD program, qualified companies can receive substantial tax abatement to expand or relocate their business to certain areas of Stamford.

There are 2 business benefits associated with an Enterprise Zone location:
1. A five-year, 80% abatement of local property taxes on qualifying real and personal property; or
2. A ten-year, 25% credit on that portion of the state’s corporation business tax that is directly attributable to a business expansion or renovation project.

Entertainment District
Certain entertainment-related types of businesses are eligible for full Enterprise Zone-level benefits if they complete an eligible project anywhere within the municipality.  Within the Entertainment District – the entire City of Stamford – any type of real property improvement is eligible for an enhanced property tax, which is provided by the municipality.  Eligible businesses may include manufacturing, communications, wholesale, retail, and general services related to the entertainment industry.

Brownfields
CT State Brownfield Remediation Programs include incentives designed to promote brownfield cleanup and redevelopment.  More information can be found at the CT Department of Energy & Environmental Protection.

Urban Jobs Program
Benefits are provided for eligible projects taking place in Stamford but outside of the Enterprise Zone.  More information can be found at the CT Department of Economic and Community Development.

Green Initiatives

Small and large businesses alike have an opportunity to save money and promote sustainable business practices through recycling and waste reduction programs

C-PACE program will allow commercial and industrial property owners to pay for energy-related improvements to their properties using a finance program that offers low fixed rates and longer repayment periods than traditional loans.  Public Act 12-2, which contains provisions for C-PACE, was signed by Governor Malloy on June 15, 2012.