Willington is currently targeting companies from the below industries. Expand each industry for more context.
Willington, CT, focuses on advanced manufacturing, which includes the production of high-tech components for aerospace, defense, and medical devices. This sector benefits from the region's skilled workforce and proximity to major manufacturing hubs.
The healthcare and social assistance sector is a growing part of Willington's economy, providing a range of services from hospital care to family services. This industry's growth is driven by an aging population and an increasing focus on health and wellness.
Educational services in Willington are centered around its public and private schools, as well as higher education institutions in the surrounding areas. This sector is key for workforce development and attracts families and professionals to the area.
Willington Economic Development Team
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Taxes in Willington, 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 Willington is coming soon!
Featured Profiles
Business and Tax Incentives in Willington, CT
Willington offers a variety of economic incentives to help businesses at the local, state, and federal level.
Manufacturing Assistance Act (MAA)
The MAA provides financial assistance to manufacturing projects that demonstrate a strong potential for economic development in Connecticut. This includes grants, loans, and other economic incentives to support the growth and sustainability of the manufacturing sector.
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 accessible financial assistance to small businesses and entrepreneurs within the state.
Urban and Industrial Sites Reinvestment Tax Credit
This incentive offers tax credits against Connecticut state corporate income taxes for investment in urban and industrial site development projects. The aim is to encourage the revitalization of underutilized or abandoned properties for economic development purposes.
Reviews
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FAQs about Willington, CT
Willington's strategic location with easy access to major highways and proximity to urban centers like Hartford, its diverse and educated workforce, and the presence of a supportive economic development infrastructure make it an attractive location for new businesses. Additionally, the town's quality of life and affordable living costs contribute to its appeal.
The close proximity to the University of Connecticut benefits businesses in Willington by providing access to a large pool of potential employees, interns, and customers. It also fosters collaboration opportunities for research and development, particularly for businesses in the education, healthcare, and advanced manufacturing sectors.
Small businesses in Willington can benefit from several financial support programs including the Connecticut Small Business Express Program (EXP), which offers loans and grants, the Urban and Industrial Sites Reinvestment Tax Credit for investment in development projects, and the Manufacturing Assistance Act (MAA) for financial assistance to manufacturing projects.
Yes, entrepreneurs in Willington can access resources through the Willington Economic Development Commission and the Tolland County Chamber of Commerce. These organizations offer guidance, networking opportunities, and information on local business incentives to help new businesses get started and flourish.
Industries thriving in Willington include advanced manufacturing, particularly with high-tech components for aerospace, defense, and medical devices, healthcare and social assistance, reflecting the community's focus on health and wellness, and educational services, supported by proximity to major educational institutions.
Willington supports the growth of the advanced manufacturing sector through its skilled workforce, economic incentives like the Manufacturing Assistance Act, and its strategic location near major manufacturing hubs. This creates an ideal environment for manufacturing firms, especially those in high-tech industries.
Relocating a business to Willington offers benefits such as access to a diverse and educated labor pool, strategic location near major highways and urban centers, affordable cost of living, quality of life for employees, and supportive economic development initiatives. These factors create a conducive environment for business growth and success.
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