Incentives

Economic Development Incentives

City of Bristol

The City of Bristol has a number of economic development incentives to encourage the retention, expansion, relocation, or creation of new businesses within the City. The Economic and Community Development department is excited to work with interested parties to coordinate applications for the programs. For more information, contact Justin Malley, Director of Economic and Community Development for the City of Bristol at 860-584-6187.

We understand that each business is different, the Economic & Community Development staff will work with you one on one to help find incentives for which you may be eligible. We will customize a package to help your business grow and thrive in Bristol and guide you through the process. Contact us today to see if your business is eligible! All programs are based on available funding and are subject to change.

Business Development Grants

  • Economic Development Grants
    These grants are available to companies that are expanding, locating, or relocating operations within the City. A primary point of evaluation is the investment being made by the company and the amount of new tax revenue generated by the project.
  • Manufacturing Equipment Grants
    The City offers Manufacturing Equipment Grants to manufacturers investing in equipment $50,000 and above that will result in a business expansion.
  • Downtown Grants
    The City offers development grants for new construction and renovation projects in the downtown area. Food-and-drink projects, mixed-use, retail, office, and multifamily residential projects are encouraged to apply.
  • Small Business Grants
    The City assists small businesses with construction projects designed to improve the look/function of an existing space and other smaller projects.
  • StartUP Bristol
    StartUP® Bristol is a local program to encourage new small business owners and entrepreneurs to locate in Bristol.

Tax Abatement Programs

  • Enterprise Zone
    The Enterprise Zone is a five- or seven-year tax abatement program for companies constructing, purchasing, and/or expanding a building within the City/State-designated Enterprise Zone (for more information on zone boundaries contact the Economic and Community Development Office at 860-584-6185).
  • Urban Jobs Program
    The Urban Jobs Program is for manufacturers and, in some cases, distributors. It is a five-year 80% tax abatement program with the same eligibility requirements and benefits as the Enterprise Zone, with the exception that the property in question does not need to be located within the City/State-designated Enterprise Zone.
  • Bioscience Zone
    This tax abatement program is for businesses engaged in bioscience development or production, including the study of genes, cells, tissues, and chemical and physical structures of living organisms.

Additional Incentives

  • Tax Increment Financing (TIF)
    The Enterprise Zone is a five- or seven-year tax abatement program for companies constructing, purchasing, and/or expanding a building within the City/State-designated Enterprise Zone (for more information on zone boundaries contact the Economic and Community Development Office at 860-584-6185).
  • Opportunity Zone
    Census Tract 4061 — encompassing much of downtown Bristol — is a federally recognized
    “Opportunity Zone” offering Federal tax benefits for developers in the area.