POPULATION: 3,574,097 (2010)
LABOR FORCE: 1,902,900 (August 2012)
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES:Manufacturing, insurance,
shipbuilding, transportation,
machine tools, jet engines,
submarines, helicopters, financial
services, health services,
biotechnology, pharmaceuticals,
telecommunications,
software, tourism, precision
manufacturing
EXPANDING INDUSTRIES: Aerospace and defense,
insurance and financial services,
instrumentation and medical
devices, bioscience and
pharmaceuticals, alternative
energy (including fuel cells),
film and digital media
COLLEGE GRADUATES: (Age 25 and over; Bachelor's
degree or higher): 36% (2011)
BASIC BUSINESS TAXES:
Corporate Income Tax: Corporation Business Tax: 7.5
percent of net income of corporations;
100 percent exemption
on data-processing equipment;
R&D carryforward tax
credit; R&D tax credit
exchange for cash
Sales and Use Tax: Retail sales
or leases of tangible personal
property and certain services
are subject to sales and use
taxes at a 6.35 percent rate
with some exceptions.
Property Tax: Rates vary among
local jurisdictions and are
based on actual value of real
and personal property; in practice,
property is assessed at
70 percent of value.
BUSINESS INCENTIVES:
Connecticut Department
of Economic and Community
Development:
• Incentive-driven loans
• Urban and Industrial Site
Investment Tax Credit
Program
• Enterprise Zone Program
• Job Expansion Tax Credit
• Industrial Parks Program
• Insurance Reinvestment
Tax Credit Program
• Corporate tax credits
• Brownfield liability limits
• Work force development
and job training assistance
Connecticut Innovations, Inc.:
• Direct loans
• Loan guarantees
• Low-cost SBA 504 loans
• Tax-incremental financing
• CT SBIR Office
• Pre-seed support services
• Connecticut BioSeed Fund
• Eli Whitney Fund
• Connecticut Clean Tech Fund
• BioScience Facilities Fund
