Cheshire Village is currently targeting companies from the below industries. Expand each industry for more context.
This sector is pivotal in Cheshire Village, providing essential medical services, long-term care, and social support. It is a major employer and is crucial for the well-being of the community.
Education services in Cheshire Village play a significant role in economic development by nurturing a skilled workforce and attracting families seeking quality education for their children. The presence of reputable schools and educational institutions fuels local development and supports other sectors.
The retail trade sector is vital for local economic vitality, offering a variety of goods and services to residents and visitors. It not only meets the daily needs of the community but also creates job opportunities and supports local suppliers.
Cheshire Village Economic Development Team
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Taxes in Cheshire Village, CT
Sales Tax: The sales tax rate is 6.35%, which equates to $6.35 per $100.
Corporate Income Tax: The corporate income tax rate is 7.5%, translating to $7.50 per $100.
Property Tax: The property tax rate varies by municipality, but for a general estimate, it can be around 2.07%, or $2.07 per $100.
More comprehensive tax data for Cheshire Village is coming soon!
Featured Profiles
Business and Tax Incentives in Cheshire Village, CT
Cheshire Village offers a variety of economic incentives to help businesses at the local, state, and federal level.
Connecticut Small Business Express Program (EXP)
This program provides an array of financing options to support small business growth in Connecticut. It offers loans and grants to Connecticut-based businesses with fewer than 100 employees at the time of application.
Urban and Industrial Sites Reinvestment Tax Credit
This incentive offers tax credits to investors for rehabilitating, expanding, or improving sites in urban areas or industrial zones. Credits can cover up to 100% of the investment, aimed at encouraging development in underutilized areas.
Manufacturing Innovation Fund Voucher Program
Designed to support the growth of Connecticut's manufacturing sector, this program provides companies with access to funding for equipment, technology, and workforce development. It aims to make Connecticut manufacturers more competitive by funding innovative projects.
Reviews
Let’s see what local businesses have to say about doing business in Cheshire Village.
FAQs about Cheshire Village, CT
The main advantages include a strategic location with easy highway access, a highly educated workforce, a supportive business environment with incentives such as the Connecticut Small Business Express Program, and a high quality of life that attracts and retains talent.
Cheshire Village supports small businesses through various programs like the Connecticut Small Business Express Program, which offers loans and grants. Additionally, the Cheshire Chamber of Commerce and the Economic Development Commission provide resources, networking opportunities, and support for business growth and development.
Yes, businesses in Cheshire Village can benefit from the Urban and Industrial Sites Reinvestment Tax Credit, which offers tax credits for rehabilitating or improving sites in urban and industrial zones, thereby encouraging development in these areas.
Cheshire Village focuses on economic development in sectors such as healthcare and social assistance, education services, and retail trade. These sectors are vital for the local economy, providing essential services, employment opportunities, and supporting the community's needs.
The Manufacturing Innovation Fund Voucher Program benefits local manufacturers by providing funding for equipment, technology upgrades, and workforce development. This support helps manufacturers become more competitive by funding innovative projects and improving operational efficiency.
While some incentives are specifically designed to support businesses within Connecticut, including Cheshire Village, eligibility often depends on the specific program requirements. Businesses are encouraged to consult with the Economic Development Commission of Cheshire or the Cheshire Chamber of Commerce for guidance on incentive eligibility.
Startups in Cheshire Village have access to a variety of resources including financing options through state programs, mentorship and networking opportunities through the Cheshire Chamber of Commerce, and local economic development initiatives aimed at supporting new business growth and innovation.
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