JobsCT provides eligible companies in certain industries, including manufacturing, with substantial refundable tax credits. This program is offered through the Department of Economic and Community Development.
WHO THEY HELP
Growing manufacturing companies that meet eligibility requirements.
KEY OFFERINGS
- State financing program.
- Technical assistance related to tax relief.
SERVICES
PROGRAM BENIFIT:
- Tax rebate for businesses creating new jobs.
- Rebate may equal 25% of the withholding taxes from net new employees.
ELIGIBILITY REQUIREMENTS:
- Create a minimum of 25 new FTEs in a year.
- Jobs must have minimum wage of $37,500.
- Salaries must be 85% of the median household income of the municipality where the jobs will be located.
- Tax rebate payout is earned in year 3 through 7. Years 8 and 9 are discretionary.
450 Columbus Boulevard, Suite 5
Hartford, CT 06103
JobsCT Tax Rebate Program