POPULATION: 3,590,347 (2012)
LABOR FORCE: 1,851,700 (August 2013)
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 innovation, healthcare and pharmaceuticals, alternative energy (including fuel cells), film and digital media
COLLEGE GRADUATES: (Age 25 and over; Bachelor's degree or higher): 37.1% (2012)
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 carry forward 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:
• Incentive-driven loans
Manufacturing Innovation Fund
First Five Program
• Urban and Industrial Site Investment Tax Credit Program
• Enterprise Zone Program
• Insurance Reinvestment Tax Credit Program
Commercial & Industrial Property Assessed Clean Energy Financing (C-PACE)
• Corporate tax credits
• Brownfield Development Loan Program
• Work force development and job training assistance
Permit Ombudsman
Technical assistance
Connecticut Innovations, Inc.:
• Direct loans
• Participation loans
Loan guarantees
• Brownfield financing
• Tax incremental financing
Sales and use tax exemptions
Industrial revenue bonds
• Pre-Seed Fund/loans
• Seed Investment Fund/equity investments
• Eli Whitney Fund/equity investments
• BioScience Facilities Fund
• Connecticut Bioscience Innovation Fund
Regenerative Medicine Research Fund
• Venture & Mezzanine Debt Fund/loans
• Angel Investor Tax Credit Program
• SBIR support services and funding
• Product/market diversification grants
• Internship grants
• Technology assessment reports
Market assessment reports
CTNext/entrepreneur innovation grants and guidance
• Business connections
• Strategic guidance
