Bethany is currently targeting companies from the below industries. Expand each industry for more context.
Bethany, CT, has a rich tradition of agriculture, making it a prime location for local food production and sustainable farming practices. This sector supports the local economy by providing fresh produce to the community and creating opportunities for agritourism.
The town encourages the growth of small businesses and retail sectors to diversify its economy and provide employment opportunities. This includes support for local artisans, boutiques, and service providers that cater to both residents and visitors.
With a focus on education, Bethany aims to develop as a hub for educational services and training programs. This sector not only supports the local population but also attracts students and professionals from surrounding areas for specialized training opportunities.
Bethany Economic Development Team
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Taxes in Bethany, CT
Sales Tax: The sales tax rate is 6.35%, which equals $6.35 per $100.
Corporate Income Tax: The corporate income tax rate is 7.5%, amounting to $7.50 per $100.
Property Tax: The property tax rate varies, but for an example rate, it could be 29.07 mills or 2.907%, which is equivalent to $2.907 per $100.
More comprehensive tax data for Bethany is coming soon!
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Business and Tax Incentives in Bethany, CT
Bethany offers a variety of economic incentives to help businesses at the local, state, and federal level.
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. The goal is to stimulate economic activity and job creation by making underutilized properties productive again.
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 to provide access to capital, encourage investment, and enhance productivity.
Manufacturing Assistance Act (MAA)
The MAA provides direct financial assistance for projects that strengthen the competitiveness of Connecticut’s manufacturing sector. This includes grants, loans, and loan guarantees for projects that support job creation, capital investment, and skills training for workers.
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Let’s see what local businesses have to say about doing business in Bethany.
FAQs about Bethany, CT
New businesses in Bethany can leverage the Connecticut Small Business Express Program to access financial support for job creation and growth. This includes favorable loans and grants aimed at enhancing productivity, encouraging investment, and providing vital capital to help start or expand their operations.
Projects eligible for the Urban and Industrial Sites Reinvestment Tax Credit in Bethany include the rehabilitation of brownfields and the redevelopment of underutilized urban and industrial properties. The initiative aims to stimulate economic activity by transforming these sites into productive commercial or industrial spaces.
The Manufacturing Assistance Act supports Bethany businesses by providing direct financial assistance for projects that enhance the competitiveness of the manufacturing sector. This could include grants, loans, or loan guarantees for activities related to job creation, capital investment, or worker training and development.
Small businesses and startups in Bethany can expect support from local economic development organizations in the form of networking opportunities, business development programs, and guidance on accessing financial incentives. These organizations aim to foster a supportive environment for local entrepreneurs and businesses to thrive.
Bethany is focused on attracting and growing industries such as agriculture and local food production, small business and retail, and education and training services. These target sectors align with the town's economic development goals of diversifying its economy, supporting sustainable practices, and enhancing educational opportunities.
Bethany's attractiveness to entrepreneurs and businesses stems from its strategic location near major highways, its affluent and well-educated population, and its commitment to preserving a rural charm while supporting economic development. Additionally, the town's low crime rate, quality of life, and supportive business climate make it an ideal place for business ventures.
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