Beacon Falls is currently targeting companies from the below industries. Expand each industry for more context.
Beacon Falls, CT, aims to attract advanced manufacturing companies, focusing on precision manufacturing, aerospace, and green technologies. This sector is seen as a cornerstone for economic development due to its high-value jobs and export potential.
With an emphasis on sustainable development, Beacon Falls is targeting green energy industries, including solar and wind energy production and energy-efficient technologies. This sector promises not only to create jobs but also to position the town as a leader in environmental stewardship.
The healthcare and biotechnology sector is another key area for economic growth in Beacon Falls, with a focus on medical research, biotech startups, and healthcare services. This industry is expected to grow due to an aging population and advancements in medical technologies.
Beacon Falls Economic Development Team
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Taxes in Beacon Falls, CT
Sales Tax: The sales tax rate is 6.35%, which is $6.35 per $100.
Corporate Income Tax: The corporate income tax rate is 7.5%, which is $7.50 per $100.
Property Tax: The property tax rate varies by municipality, but for illustrative purposes, if the rate were 35 mills, it would be 3.5%, or $3.50 per $100.
More comprehensive tax data for Beacon Falls is coming soon!
Featured Profiles
Business and Tax Incentives in Beacon Falls, CT
Beacon Falls offers a variety of economic incentives to help businesses at the local, state, and federal level.
Manufacturing Assistance Act (MAA)
The MAA provides financial assistance to manufacturing projects that demonstrate a strong potential for economic development in Connecticut. This includes direct loans, loan guarantees, and grants for projects that support the growth of the manufacturing sector.
Connecticut Small Business Express Program (EXP)
This program provides loans and grants to Connecticut's small businesses to spur job creation and growth. It is designed for businesses with fewer than 100 employees and offers a streamlined process for accessing capital.
Urban and Industrial Sites Reinvestment Tax Credit
This incentive offers tax credits to investors who invest in the rehabilitation of brownfields or the redevelopment of urban and industrial sites in Connecticut. The program aims to encourage private investment in areas that are in need of economic revitalization.
Reviews
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FAQs about Beacon Falls, CT
Beacon Falls is focusing on attracting businesses in advanced manufacturing, particularly those involved in precision manufacturing, aerospace, and green technologies. Additionally, the town aims to attract companies in the green energy and sustainability sector, as well as healthcare and biotechnology industries.
Yes, Beacon Falls businesses can benefit from several financial incentives offered by the state of Connecticut, including the Connecticut Small Business Express Program (EXP), the Urban and Industrial Sites Reinvestment Tax Credit, and the Manufacturing Assistance Act (MAA), which provide loans, grants, and tax credits to support economic growth and development.
The Beacon Falls Economic Development Commission plays a key role in supporting economic development by attracting new businesses, aiding existing businesses, and enhancing the town's economic well-being. Additionally, regional organizations such as the Naugatuck Valley Council of Governments work on broader economic development initiatives that benefit Beacon Falls.
Beacon Falls offers a strategic location with easy access to major highways and proximity to larger cities like New Haven and Waterbury. The town boasts a diverse and skilled workforce, competitive median rent, and a high quality of life with ample outdoor recreation opportunities. These factors, combined with its supportive economic development organizations and financial incentives, make Beacon Falls an attractive location for businesses.
Yes, startups and small businesses can find substantial support in Beacon Falls through various programs such as the Connecticut Small Business Express Program (EXP), which provides loans and grants designed to spur job creation and growth. The town's economic development efforts are geared towards nurturing a supportive environment for businesses of all sizes.
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