Sherwood Manor is currently targeting companies from the below industries. Expand each industry for more context.
This sector is pivotal in Sherwood Manor, CT, due to the growing demand for health services among its aging population. It encompasses hospitals, nursing and residential care facilities, and social assistance services.
With a focus on excellence in education, this sector is crucial for the area's development, offering opportunities in primary, secondary, and higher education institutions. It plays a significant role in workforce development and attracting families to the area.
This sector serves as a significant source of employment and economic activity in Sherwood Manor, CT, catering to the daily needs of its residents and visitors. It includes a wide range of establishments from large supermarkets to small local businesses.
Sherwood Manor Economic Development Team
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Taxes in Sherwood Manor, 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: Property tax rates can vary widely, but for an approximate figure, a rate of 2.07% or $2.07 per $100 could be considered.
More comprehensive tax data for Sherwood Manor is coming soon!
Featured Profiles
Business and Tax Incentives in Sherwood Manor, CT
Sherwood Manor 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 loans and grants to Connecticut's small business 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 that invest in the rehabilitation of brownfields or the redevelopment of urban and industrial sites within Connecticut. The goal is to encourage the revitalization of underutilized or abandoned properties.
Manufacturing Innovation Fund Voucher Program
Targeted at Connecticut's small and medium-sized manufacturers, this program provides vouchers up to $50,000 for the purchase of specialized equipment and expertise that improve productivity and efficiency. It aims to support the growth of manufacturing in the state.
Reviews
Let’s see what local businesses have to say about doing business in Sherwood Manor.
FAQs about Sherwood Manor, CT
Businesses in Sherwood Manor can benefit from the local Chamber of Commerce through networking opportunities, business development resources, advocacy, and visibility within the community. The Chamber facilitates connections between businesses and offers various programs and events designed to support business growth and community engagement.
To start a business in Sherwood Manor, entrepreneurs should first develop a business plan, choose a business structure, and register the business with the State of Connecticut. Next, obtain any necessary permits or licenses, and register for state taxes. It's also recommended to connect with the Sherwood Manor Chamber of Commerce for local resources and support.
The proximity to universities and colleges benefits businesses in Sherwood Manor by providing access to a pool of educated potential employees and opportunities for collaboration on research and development projects. It also enables businesses to engage with student internships, co-op programs, and recruitment, enhancing their workforce development.
Startups in Sherwood Manor can access grants through programs like the Connecticut Small Business Express Program (EXP), which offers financial assistance to support job creation and business growth. Additionally, startups may qualify for other state or federal grants focused on innovation, technology, and economic development.
Women and minority-owned businesses in Sherwood Manor can access various resources including specialized assistance from the Connecticut Small Business Development Center, which offers counseling, training, and networking opportunities. Additionally, state and federal programs may offer grants, loans, and certification programs to support these businesses.
Businesses in Sherwood Manor may benefit from tax credits for hiring local residents through programs like the Work Opportunity Tax Credit (WOTC), which incentivizes employers to hire individuals from certain groups who have consistently faced significant barriers to employment.
Sherwood Manor offers support for businesses looking to expand through the Manufacturing Innovation Fund Voucher Program, which provides financial assistance for purchasing equipment and expertise. Additionally, the Urban and Industrial Sites Reinvestment Tax Credit can aid businesses in redevelopment projects. Local economic development organizations also provide resources and guidance for expansion projects.
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