Pawcatuck is currently targeting companies from the below industries. Expand each industry for more context.
Pawcatuck, CT, benefits from its proximity to waterways, making it an ideal location for maritime manufacturing, including boat building and marine equipment production. This sector capitalizes on the skilled workforce and the area's rich maritime history.
Advanced manufacturing, focusing on innovative technologies and high-efficiency production methods, is a key sector for Pawcatuck, driven by a push for modernization and the presence of a skilled labor force. This industry includes aerospace, medical devices, and precision manufacturing.
Pawcatuck Economic Development Team
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Taxes in Pawcatuck, CT
Sales Tax: The sales tax rate is 6.35%, which translates to $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 by locality, but a common rate in Connecticut is around 2.14%, or $2.14 per $100.
More comprehensive tax data for Pawcatuck is coming soon!
Featured Profiles
Business and Tax Incentives in Pawcatuck, CT
Pawcatuck offers a variety of economic incentives to help businesses at the local, state, and federal level.
Connecticut Enterprise Zone Program
This program offers various tax incentives to businesses located in designated enterprise zones within the state, including property tax abatements and corporation business tax credits. Businesses in sectors such as manufacturing, warehousing, and certain services that invest in these zones and create jobs can benefit.
Small Business Express Program (EXP)
The Small Business Express Program provides loans and grants to Connecticut's small businesses to spur job creation and growth. It offers access to capital, employment incentives, and technical assistance to eligible businesses with fewer than 100 employees.
Urban and Industrial Sites Reinvestment Tax Credit
This program offers a dollar-for-dollar corporate tax credit of up to 100% of capital investment on eligible projects in urban areas and industrial sites. The tax credit is aimed at encouraging the cleanup and redevelopment of brownfield sites and the revitalization of underutilized buildings.
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Let’s see what local businesses have to say about doing business in Pawcatuck.
FAQs about Pawcatuck, CT
Businesses engaged in manufacturing, warehousing, and specified services that invest and create jobs in designated enterprise zones in Pawcatuck can benefit from the Connecticut Enterprise Zone Program. This includes access to property tax abatements and corporation business tax credits.
Small businesses in Pawcatuck with fewer than 100 employees can access loans, grants, and technical assistance through the Small Business Express Program (EXP). This program is designed to spur job creation and growth by providing financial and support services.
The Urban and Industrial Sites Reinvestment Tax Credit is a program that offers a dollar-for-dollar corporate tax credit of up to 100% of capital investment in eligible projects in urban areas and industrial sites. In Pawcatuck, this can apply to businesses involved in the cleanup and redevelopment of brownfield sites or the revitalization of underutilized buildings, encouraging economic development and environmental restoration.
Yes, economic development in Pawcatuck is supported by organizations such as the Eastern Connecticut Chamber of Commerce and the Southeastern Connecticut Enterprise Region (SeCTer). These organizations provide resources, support local businesses, and promote economic initiatives to foster growth and development in the area.
Pawcatuck's proximity to waterways makes it an ideal location for maritime manufacturing businesses, including boat building and marine equipment production. This sector benefits from the area's skilled workforce, strategic location, and rich maritime history, contributing to its attractiveness for businesses in this industry.
The advanced manufacturing sector in Pawcatuck stays competitive through a focus on innovative technologies, high-efficiency production methods, and a skilled labor force. The presence of industries like aerospace, medical devices, and precision manufacturing drives modernization and contributes to the area's economic vitality.
McKinney offers an inviting landscape for businesses to prosper while enjoying the city's unique blend of heritage and business growth.
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