Noroton is currently targeting companies from the below industries. Expand each industry for more context.
Noroton, CT, is part of the broader Fairfield County area, which is a hub for hedge funds and financial services. This sector provides significant employment opportunities and contributes to the local economy through high-value jobs and investment opportunities.
The healthcare sector, including biotechnology companies, is a growing field in Noroton, CT, benefiting from its proximity to major research universities and hospitals. This industry not only supports innovation and health services but also drives job creation in both scientific and support roles.
Given its location along the Long Island Sound, Noroton, CT, has a natural inclination towards the maritime industry, including shipping, boating, and marine manufacturing. This sector supports the local economy through tourism, recreation, and the production of goods and services related to maritime activities.
Noroton Economic Development Team
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Taxes in Noroton, 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%, translating to $7.50 per $100.
Property Tax: Property tax rates vary by municipality, but a common rate in Connecticut is around 2.14%, or $2.14 per $100.
More comprehensive tax data for Noroton is coming soon!
Featured Profiles
Business and Tax Incentives in Noroton, CT
Noroton offers a variety of economic incentives to help businesses at the local, state, and federal level.
Connecticut First Five Plus Program
This program is designed to encourage the creation of jobs by investing in projects that have the potential for significant economic impact. Businesses that commit to creating a minimum number of new jobs within Connecticut may receive substantial financial assistance in the form of tax credits, loans, and grants.
Urban and Industrial Sites Reinvestment Tax Credit
This incentive offers tax credits to investors redeveloping commercial, industrial, and residential properties in urban areas, including brownfields. The aim is to stimulate investment in underutilized properties by offsetting the costs associated with redevelopment.
Small Business Express Program (EXP)
The EXP provides a blend of loans and grants to Connecticut’s small businesses to spur growth and innovation. It is designed to support businesses with fewer than 100 employees, offering resources to purchase machinery, capital improvements, or provide working capital.
Reviews
Let’s see what local businesses have to say about doing business in Noroton.
FAQs about Noroton, CT
Businesses in the financial services, healthcare and biotechnology, and maritime industries can greatly benefit from relocating to Noroton due to the area's strong economic environment, skilled workforce, and strategic location. Additionally, companies in professional services, real estate, and those looking to leverage the affluent demographic for high-end retail and services would also find Noroton attractive.
The Connecticut First Five Plus Program benefits businesses in Noroton by offering substantial financial incentives for job creation. Companies committing to creating a set number of jobs within the state can access tax credits, loans, and grants, encouraging business growth and economic development within Noroton and the broader Connecticut area.
Yes, the Small Business Express Program (EXP) provides financial support to small businesses in Noroton with fewer than 100 employees. This program offers a mix of loans and grants to assist with purchasing machinery, making capital improvements, or providing working capital, helping small businesses to innovate and expand.
Noroton's coastal location along the Long Island Sound makes it inherently attractive for maritime industry businesses. The area's vibrant maritime sector includes shipping, boating, marine manufacturing, and related services, benefiting from the local tourism, recreation, and a community supportive of maritime activities.
Yes, new businesses in Noroton can access support from local economic development organizations such as the Darien Chamber of Commerce and the Fairfield County Economic Development Association. These organizations provide resources, networking opportunities, and advocacy to promote local businesses, attract investments, and support economic growth in the area.
While Noroton itself does not host higher education institutions, its proximity to Stamford and Fairfield provides access to universities and colleges that contribute to workforce development. These institutions offer continuing education and specialized training that benefit local businesses and residents, ensuring a skilled and educated workforce in the area.
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