We Want to Help You!
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 & Community Development team is excited to work with interested parties to coordinate applications for the programs.
We understand that each business is different, the Economic & Community Development team 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.
More Information
For more information about any of the below incentives along with application requirements for each, contact Justin Malley, Director of Economic & Community Development for the City of Bristol: 860-584-6187
City of Bristol “Forgivable” Revolving Loan Fund
COMING SOON – The City of Bristol Forgivable Revolving Loan Fund, in partnership with Community Investment Corporation, encourages small business growth to help create/retain jobs, to stimulate commercial property improvements, to encourage businesses located outside Bristol to open in the City, and to help existing Bristol businesses grow. The Loan Fund offers a competitive interest rate, flexible loan terms, and a “forgiveness” component: If the business makes monthly payments in full and on time to achieve 50% loan payback – and continues to conduct business in Bristol – the remaining 50% principal loan balance is forgiven. Please check back for more information as the program begins in January 2024.
Small Business “Micro” Grant Program
The City assists small businesses with projects designed to improve the look/function of an existing space and other smaller projects allowing small business to operate and grow. These grants are capped at $5,000 and provide 75% of the cost of projects for existing businesses and 50% of the cost of projects for startups in operation for under one year. The program funds “fixed asset” and/or “permanent building improvement” projects. Eligible applicants are small businesses with operations in Bristol, in good standing with the City of Bristol, and employing not more than 50 employees.
Manufacturing Technical Assistance Grant Program
The City offers funding to cover up to 50% of out-of-pocket costs associated with engaging in business consultative services with firms such as CONNSTEP and others. CONNSTEP and similar organizations provide a variety of consulting services to help improve manufacturing operations by working with them to: obtain ISO certifications, meet federal cybersecurity mandates, customize facility layouts to increase efficiency, enhance business development efforts and much more.
Downtown/West End/Forestville Center Façade Improvement Program
The Bristol Façade Improvement Program is designed to strengthen the economic viability of commercial property located Downtown (as defined by Census Tract 4061), in the “West End” as defined by the study known as A Plan for the West End Neighborhood adopted June 29, 2011, and the area known as “Forestville Center.” The program assists businesses and/or commercial property owners to improve the exterior appearance of storefronts and commercial/mixed-use buildings while preserving the architectural heritage of commercial/mixed-use buildings.
Tax Abatement Programs
Enterprise Zone
The Connecticut General Statues, CGS 32-70, designates the establishment of the State’s Enterprise Zones. The purpose of the Enterprise Zone is to attract redevelopment, renewed investment, and job opportunities. Qualified industrial, commercial and residential properties are eligible for tax incentives. 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.
Helpful information about this program:
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 Enterprise Corridor Zone
This zone is for eligible businesses engaged in bioscience, biotechnology, pharmaceutical or photonics research, development or production with not more than 300 employees at any time during the preceding 12 months. Qualifying businesses moving and/or expanding in Bristol are eligible to apply for a five-year 80% abatement of local property taxes on qualifying real estate and personal property (machinery and equipment) – the investment must be new to the municipality’s Grand List as a direct result of a business expansion and/or renovation – and other benefits as stipulated in the Connecticut General Statutes.
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. Contact the Economic and Community Development Center today to learn more.
Contact UsOpportunity Zone
Census Tract 4061 — encompassing much of downtown Bristol — is a federally recognized “Opportunity Zone” offering Federal tax benefits for developers in the area. For more information about Connecticut’s Opportunity Zones, click the button below.
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