INCENTIVES
Investing In Hartford
The Hartford Area Development Foundation will assist the start up, expansion, or relocation of your business in a confidential manner. Business planning, financial analysis, marketing assistance, workforce topics, and other issues that affect the future of your business are within the scope of services offered. Our staff and our network can help you find solutions to your problems and maximize your opportunities.
Tax Incentives
Tax Abatement: Property taxes on new tax base created from business expansions will be abated on a five year schedule: 1st year – 100%, 2nd year – 75%, 3rd year – 50%, 4th year – 25%, 5th year – 25%.
Sales Tax Rebate: The City of Hartford offers a rebate of local sales tax (2%) on eligible machinery and equipment. Conditions are set forth in Chapter 11.03 of the Hartford Municipal Ordinances.
Tax Increment Financing (TIF): Property taxes on new tax base created from business expansions can be captured to fund infrastructure improvements needed for the project. The Hartford Area Development Foundation will work with the City of Hartford and you to determine what assistance best fits your situation.