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
May 24th @11:00am Women’s Business Development Council ~ Financial Foundations: Managing your Business in a Time of Rising Prices
May 24th @ 1:00pm SCORE ~ You Created a Business Plan, Now What?
May 25th @ 8:00am SCORE ~ Enhance Business Competitiveness with a SWOT Analysis
May 25th @ Noon Women’s Business Development Council ~ Let’s Talk: Applying for Small and Minority Business Certification
May 26th @ 10:00am Women’s Business Development Council ~ Equity Match Grant Information Session
May 31st @ 1:00pm SCORE ~ How to Find Grant Opportunities for Your Business
June 2md @ 10:00am SCORE ~ Navigating the Digital Marketing Maze
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 eLearning Library
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.
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.
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:
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.
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.
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.
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!
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)
- 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 Opportunities ~
$500 to Safeguard Your Studio + Protect Your Career! CERF+’s Get Ready Grants award up to $500 to individual artists working in craft disciplines to conduct activities that will help safeguard their studios, protect their careers, and prepare for emergencies. More Information (deadline Feb 22)
Don’t let the legal costs of protecting your ideas and work stop you from moving forward. The Connecticut Small Business Development Center welcomes the US Patent and Trade Office, UConn Law School IP Clinic and University of Bridgeport Patent and Trademark Resource Center to overview the free resources available to entrepreneurs, artists and businesses to protect your intellectual property. Join us February 17th from 11:00am-Noon. Register here.
Small Business Administration 8(a) Business Development Program
The 8(a) Program helps provide a level playing field for small businesses owned by individuals who are socially and economically disadvantaged. In this effort, the government limits competition for certain contracts to businesses that participate in the 8(a) Business Development program. To apply for the 8(a) program a business must:
- Be a small business
- Not have previously participated in the 8(a) program
- Be at least 51% owned and controlled by U.S. citizens who are socially and economically disadvantaged
- Have a personal net worth of $750 thousand or less, adjusted gross income of $350 thousand or less, and assets totaling $6 million or less
- Demonstrate good character
- Demonstrate the potential for success such as having been in business for two years
Session 2, February 23 – A deep dive into the application – Basic Eligibility, Business Ownership, Control Register Here!
Session 4, February 25 – Final Steps – Submitting the application, Tips, Your Q&A, Now What? Register Here!
DEEP Beverage Container Recycling Program
The Department of Energy and Environmental Protection announced the DEEP Beverage Container Recycling Program for FY 21/22. The grant application process is intended to support the establishment of beverage container redemption centers in urban centers and environmental justice communities. Applications will be accepted on a rolling basis from January 1, 2022 through May 30, 2022. To Learn more please visit Beverage Container Recycling Grant Program (ct.gov)
CTNext Entrepreneur Innovation Awards (EIA)
CTNext is accpecting applications for its Entrepreneur Innovation Awards (EIA) on Thursday, April 21, 2022. The EIA event will feature startup and early-stage companies vying for grants of $10,000. If you are an early-stage company looking for grant funding to grow your business, learn more and apply here by Wednesday, March 9, 2022, to be considered. If you have any questions about eligibility or criteria, feel free to contact Tamyra Davis at email@example.com.
Comcast RISE, which stands for “Representation, Investment, Strength, and Empowerment”, helps people move their businesses forward with either a tech makeover or an ad campaign to increase awareness in local markets. Comcast RISE aims to support 13,000 small businesses across the country by the end of 2022.
- Marketing services: These services from Effectv, the advertising sales division of Comcast Cable, and its creative agency, Mnemonic, are designed to help recipients with their marketing and media campaigns, including a linear TV campaign and a 30-second TV commercial production.
- Technology makeovers: The state-of-the-art equipment and technology upgrade from Comcast Business includes computer equipment as well as internet, voice and cybersecurity services for up to a 12-month period. (Taxes and other fees may still apply for tech makeover services.)
The next wave of applications for Comcast RISE Marketing & Technology Services will close on June 17, 2022. For more information please visit Application Choices – RISE (comcastrise.com)
Women’s Business Development Council Equity Match Grant
The Equity Match Grant Program offers grants of up to $10,000 to women-owned businesses in the state of Connecticut who have been in business for 2 or more years. Cash grants between $2,500 and $10,000 will be awarded for clearly-defined projects that will have a 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. The grant application period is open until February 13th. For more information please visit https://ctwbdc.org/equity-match-grant-program
The SBA microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000. join us Wednesday, February 23rd at 6pm, the Connecticut District Office will host a panel discussion with specially designated intermediary lenders, chambers of commerce, partners and alliances who will share their experience in lending as well as their small business technical assistance. Register here.
- Small Business Express Program
- Manufacturing Assistance Act
- Minority Business Revolving Loan Fund
- Pre-Seed Financing
- Additional funding opportunities
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:
- Paycheck Protection Program
- Economic Injury Disaster Loan
- SBA Traditional Loans
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
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.