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Welcome to The City of Groton Business Webpage! 

Managed by Department of Planning and Economic Development, this webpage provides regularly updates on local and regional economic activities, development initiatives, and connection to resources designed to support business development and growth.

Browse at your leisure. Engage with ecosystem partners.  And feel free to connect the City’s Economic Development Specialist with any questions.

 

Cierra Patrick, Economic Development Specialist
860.446.4066
Patrickc@CityofGroton-CT.gov

September 10th 1:00-2:00pm Cultural Coalition: The Resilience Room – Emotional Wellness Support for Creative Industry

September 13th-15th SBA: National Small Business Week Virtual Summit

September 14th 10:00-11:00am WBDC: Equity Match Grant Information Session 

September 15th 12:00-1:30PM SCORE: Advertising on and Measuring the Impact of LinkedIn

September 21st & 23rd 6:30-7:30pm WBDC: Financial Foundations: Intro to Personal Finance (2 Part Course)

September 24th 1:00-2:00pm Cultural Coalition: The Resilience Room – Emotional Wellness Support for Creative Industry

October-November 5:00-7:00pm WBDC: A Guide to Plan for Success (9-Part Series)

SCORES Grow with Google: Digital Readiness Series, a four-part free digital readiness series designed to help small business owners develop the skills they need to succeed online and grow their companies.

Courageous Conversations with Fran Pastore, features candid discussions between WBDC CEO and influential leaders in and around our community.

Ascent is a free digital e-learning platform geared to help women entrepreneurs grow and expand their businesses.

CT Small Business Development Center has an array of free online training videos for entrepreneurs.

Women’s Business Development Council eCenter

Connecticut Main Street Center has arranged a  Small Business Resource Library

CT Women's Business Development Council

Supports economic prosperity for women and strengthen communities through entrepreneurial and financial education services that create and grow sustainable jobs and businesses across Connecticut. From starting or growing a business to increasing income, the Women’s Business Development Council drives business success in a tangible and accessible way.

WBDC  Introduces Blue Stream, training in a flexible framework for entrepreneurs on the move!

CT Small Business Development Center

Business Advisors offer professional, confidential, and expert business advice for owners and entrepreneurs to start, grow, overcome challenges and reach their goals.

SCORE

The nation’s largest network of volunteer, expert business mentors, dedicated to helping small businesses get off the ground, grow and achieve their goals. Since 1964, SCORE have provided education and mentorship to more than 11 million entrepreneurs.

SCORE provides a wide range of services to established and budding business owners alike, including:

Mentoring

Entrepreneurs can access free, confidential business mentoring . SCORE mentors, all experts in entrepreneurship and related fields, meet with their small business clients on an ongoing basis to provide continued advice and support.

Webinars and Courses on Demand

SCORE regularly offers free online workshops on topics ranging from startup strategies to marketing and finance. Attendees can watch webinars live, or view recordings online on their own time. We also offer interactive courses on demand, so you can walk through each module at your own pace.

Library of online resources

Business owners can also benefit from SCORE’s extensive collection of eguides, templates, checklists, blogs, videos, infographics and more. We strive to provide the most relevant and current educational content to help small business owners and entrepreneurs succeed.

Explore More Groton

Groton, Connecticut, is a growing New England community positioned midway between New Haven and Providence along I-95. With easily accessibility to the major metro areas of Boston and New York City, explore the many opportunities and quality of life Groton CT has to offer.

Explore More Groton

SeCTer

The designated private, non-profit Economic Development Organization provides a broad range of services and resources to stimulate and support economic development and diversification within the Southeastern CT region. SeCTer now offers free business advising! Through the addition of Business Advisor Judith Lamson-Rockwell, supported by a subcontract from the Small Business Development Center. Judith brings to seCTer a diverse background in business and management. Click here to register for business advising today!

AdvanceCT

Works to build a place where business, government, higher education, and nonprofits come together to implement high impact and inclusive economic development solutions to advance the overall competitiveness of Connecticut.

AdvanceCT can assists your business in:

  • Manage challenges faced as a result of regulations and policies
  • Connection to resources (state, local officials and agencies, peer organizations, professional associations, business resource organizations, funding partners, etc.)
  • Provide information to support business decision making (economic data, industry data, transit data, workforce data, etc.)
  • Support during the process of business expansion (finding real estate opportunities, the land use regulatory process, acquiring incentives)

Connecticut Business

Your one stop shop for doing business in Connecticut.

Business Recovery

CT Latest Reopening Guidance

The U.S. Small Business Administration announced increase in amount available through Covid Economic Injury Disaster Loan (EIDL) program.  The following changes are effective immediately:

  • Increase in maximum loan amount from $500,000 to $2,000,000
  • Additional permitted uses of funds
  • Additional way for applicants with certain NAICS to meet program size standards
  • New Affiliation rules
  • New limit ($10M) on total loans to a single corporate group

 

The Employee Retention Tax Credit is a refundable tax credit designed to encourage employers to keep employees on their payroll.  The American Rescue Plan extends the program to small businesses through December 2021 and allows businesses to offset their current payroll tax liabilities by up to $7,000 per employee per quarter. This credit of up to $28,000 per employee for 2021 is available to small businesses who have seen their revenues decline, or even been temporarily shuttered, due to COVID.

 

The American Rescue Plan has also extended the Paid Leave Tax Credit through September 2021 allowing small and midsize businesses that offer paid leave to employees who may take leave due to illness, quarantine, or caregiving. Businesses can take dollar-for-dollar tax credits equal to wages of up to $5,000 if they offer paid leave to employees. Visit The Internal Revenue Service for updated information.

~Funding Alert~

Make48 Invention Competition is looking for makers, entrepreneurs, and dreamers to apply for their invention competition at MakerspaceCT to be held October 7-9, 2021! During the 48-hour competition, teams are given a challenge, must build a physical prototype, sales sheet, and a 1-minute marketing video, and then pitch it to judges. The twist is that Make48 has tool technicians and access to a MakerspaceCT’s equipment and tools to help your team build almost anything you can imagine to solve the challenge.  First place team wins $2000 from the event sponsor, Stanley Black & Decker, and advances to the nationals in March, which will be filmed as a PBS docuseries.

Grameen America is the fastest growing nonprofit microfinance organization in the United States with a proven national solution to advance financial inclusion for women. They offer women small loans starting from $500 to $2,000 for periods of 6 months to start or grow their small business. No collateral, credit history or proof of income is required to receive a loan from Grameen America. Click here for more information or contact Julissa Fernandez jfernandez@grameenamerica.org.

The Women’s Business Development Council is offering  grants to women-owned small businesses. The Equity Match Grant Program is designed to help women-owned businesses grow. Grants between $2,500 and $10,000 will be awarded for clearly defined projects that will have a n=measurable impact on the business, its growth and profitability. The grant funds cannot be used towards operating expenses, payroll, or real estate improvements. Applicants are required to provide a minimum 25% match. Grant application will be accepted from September 7th-28th.  For more information email info@ctwbdc.org.

Neighbors to Neighbors Grant is designed to be flexible in supporting the work of organizations meeting the basic needs of residents of Eastern Connecticut, especially our most vulnerable populations. It complements the work of federal, state and municipal government relief efforts, to identify and fill gaps, and to expand local capacity to address all aspects of the crisis as effectively and efficiently as possible.

Pfizer Community Grants Campaign is designed for local non-profit organizations serving communities in Southeastern Connecticut, the greater New Haven area, and southern Rhode Island. Priority will be given to programs that bring STEM (Science, technology, engineering, and math) to students from elementary through high school.  additional grants will be made to programs that provide for underserved or to support local civic and cultural institutions.  Grants will range from $1000-$5000 and support programs from July 2021- June 2022.  Invitation Code: Groton2021.

Accion Opportunity Fund is a financial support system that provides small business owners with access to capital, networks, and coaching. The Opportunity Fund is currently offering small business loans from $5,00-$100,00 to businesses that advances racial, gender, and economic justice for all. Apply here.

The Connecticut Department of Economic and Community Development (DECD) offers the following programs:

 

The U.S. Small Business Administration (SBA) is offering a new financial assistance loan called CARL, this program offers financial and technical assistance to help small businesses adapt to changing business conditions in the COVID-19 environment and strengthen their ability to manage through potential future disruptions. For more information visit Community Advantage Recovery Loans

Businesses have access to the following programs through Connecticut Small Business Development Center:

 

HEDCO provides small businesses and non-profit organizations access to flexible and affordable capital that would be otherwise un-met or under-served.

 

Community Economic Development Fund provides loans and technical assistance to Connecticut small business owners who are not able to obtain traditional bank financing.

 

Connecticut Community Investment Corporation provides access to capital that may not be available elsewhere as well as financing opportunities for expanding businesses looking to purchase real estate and/or machinery and equipment.

 

BDC Capital provides financial assistance with loans, mezzanine and equity investments, guarantees, and financial services to businesses of every type and description.

 

The State Historic Preservation Office is offering a reimbursable Stewardship Relief Grant of up to $1,000 to Connecticut 501(c)3 nonprofits. The purpose of this funding is to encourage and support the continued safeguarding of historic resources at a time when many organizations are experiencing economic distress because of the Covid-19 pandemic.

 

Connected Commerce Council aggregated available public and private funding options in and easy to navigate tool- Finding Assistance & Relief

 

COVIDCAP is a searchable database of over $1 trillion in COVID-19 cash relief resources available to small business and nonprofit entrepreneurs.

Business Soft-Cost Grant
Grant funds are available to reimburse owners/operators for soft costs associated with opening or expanding a small business in the City of Groton. Eligible expenses include: architectural fees, survey/soil scientist costs, engineering expenses, legal fees specific to planning and zoning, and consultant fees specific to business operations, pre-approved by staff.
Business Soft Cost Grant Policies and Procedures
Business Soft Cost Grant Application

Tax Increment Financing
TIF Districts leverage the increased tax assessment that is realized over a baseline assessment value. The tax revenue generated is placed into its own account and can be reinvested into the District for public infrastructure improvements (i.e. utilities, streets, walks, recreation, etc.), used to assist with private development, or moved into the general fund for other purposes. The City has adopted a TIF district along the Thames/Bridge Street corridor from I-95 to Eastern Point Road and extending through the Five Corners area to Clearance B Sharp highway. Please refer to the map below. For more information visit City of Groton Tax Increment Financing District

Economic Assistance Fund
Financial support for public infrastructure associated with new development projects. Examples uses include: utility line extensions, sidewalk/road improvements, and traffic control/street lighting.
Economic Assistance Fund

Enterprise Zone
Companies involved in manufacturing, research associated with manufacturing and distribution warehousing (new construction/expansion only) as well as certain service companies that develop properties in an Enterprise Zone or a zone that is eligible for Enterprise Zone-level benefits will receive:

  • a five-year, 80% abatement of local property taxes on qualifying real estate and personal property (note: the company must be new to the municipality’s grand list as a direct result of a business expansion or renovation); and
  • a 10-year, 25% credit on the portion of the corporate business tax that is directly attributable to a business expansion or renovation project, as determined by the Connecticut Department of Revenue Services. The credit may increase to 50% based on number of new jobs created.

Newly formed corporations located in a zone qualify for a 100% corporate tax credit for their first three taxable years and a 50% tax credit for the next seven taxable years.

Eligibility: These programs are designed to encourage capital improvements to land and/or buildings. Businesses must be prepared to either:

  • renovate an existing facility by investing at least 50% of the facility’s prior assessed value in the renovation; Or
  • construct a new facility; Or
  • expand an existing facility; Or
  • acquire a facility that has been idle for a stated minimum time frame

For more information visit CT Department of Economic and Community Development

Eastern CT Manufacturing Pipeline initiative provides no-cost training to address the hiring needs of Electric Boat, members of the Eastern Advanced Manufacturing Alliance, and other manufactures.

Health Careers Advancement Project provides no-cost short-term training in Patient Care & Nursing, Emergency Medicine, Community Health & Patient Navigation, and Health Information Management

SkillUp CT is a career pathway portal providing free online courses to Connecticut residents.

180 Skills is an online learning provider that has hundreds of high-quality, industry-aligned courses that have been vetted by Manufacturing leaders and associations across the state. For individuals looking to enter a thriving CT manufacturing industry or to enhance their general employability skills, 180 Skills could be a great fit for you.

On-the-Job Training with the Eastern CT Workforce Investment Board is a cost-effective way to staff positions with job-ready, pre-screened applicants. Funds are available to assist employers in hiring eligible applicants with 50% to 90% wage reimbursement during training.

 

The 2019 Groton Economic Development Strategy is designed to empower Groton communities in creating an economic future that realizes their full potential.

The Vision: becoming communities of choice while hosting a diverse economy with innovation and activity that will lead to regional transformation and shared prosperity.

What sets this strategy apart from others is the guiding principle of putting people first. Groton is home to a diverse population with varying needs and interest. This strategy seeks to look at the intersection of people with place.

The Strategy’s Overarching Goals include:

  • Increase the percentage of people who both live and work in Groton
  • Shape Groton’s pockets of economic activity into places where people connect
  • Strengthen and diversify the transportation network to accommodate transformative growth
  • Promote and connect Groton’s educational assets from early education through higher education, lifelong learning, and new career development
  • Grow and diversify existing and emerging opportunities
  • Provide an environment that nurtures entrepreneurs and startup companies
  • Connect, communicate, and educate on economic development

Incorporated in 1964 the City of Groton takes pride in the entrepreneurial spirit, vision, and perseverance found in its business community. Throughout the City’s history, economic growth has been fueled by ambitious individuals and collaborative efforts that have pushed the needle forward. The City of Groton’s Economic Development staff and commission are committed to supporting the recovery and revitalization of our local economy by proactively unifying economic interests.  Our team strives to unite stakeholders in creating a future that realizes the community’s full potential.

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