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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 Manager
860.446.4066
Patrickc@CityofGroton-CT.gov

November 30th @ Noon Women’s Business Development Council ~ Exploring Entrepreneurship 

November 30th @ 10:00am SCORE ~ Managing Your Business Finances with QuickBooks

December 1st @ 10:00am SCORE ~ Choosing the Right QuickBooks: The Basics of Setting Up Your QuickBooks Company 

December 8th @ Noon SCORE ~ 2023: The Year Branding Thrives w/ Maria Miranda 

December 14th @ 2:00pm SCORE ~ The Three-Page Business Plan 

December 15th @ 1:00pm Community Economic Development Fund ~ The Most Important Word in Business that Almost Nobody Understands: Branding your Business

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.

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 

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.

City of Groton Small Business Funding
  • Business Soft Costs up to a $2,500.00 reimbursement grant per business. Grant award will reimburse documented and eligible soft costs associated with opening or expanding a business in eligible zones.
  • Minor Façade Improvement Costs up to a $2,500 reimbursement grant per active business tenant. Grant award will reimburse eligible and documented minor façade improvement costs associated with rehabilitating a commercial façade within the City of Groton Tax Increment Financing District. Property owners with multiple business tenants are encouraged to collaborate with business tenants, where feasible, to develop façade plans. Applicants are required to provide the City of Groton Planning & Economic Development a schematic sketch of proposed minor façade improvements, before and after pictures, and receipts for all work completed.
*Applicants are eligible for one grant per project, per calendar year. The Economic Development Commission may waive this provision, but in no case can the total reimbursement exceed $2,500/year/business. Applications for work completed within the previous six (6) months prior to the submittal of a grant application can be considered for this program.
For more information please contact Cierra Patrick, City of Groton Economic Development Specialist at Patrickc@CityofGroton-CT.gov
Economic Development Grant Program Policy & Procedures
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Business Soft Cost Application
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***Check out the City of Groton bi-weekly Business Update for funding opportunities from regional, State, Federal, and philanthropic sources***

 

The City of Groton’s Economic Development Grant Programs are strategic investments to strengthen local businesses, attract private investment, enhance placemaking, and stimulate growth. They provide incentives to qualified existing and/or new businesses and commercial property owners in the City of Groton, CT.

Reimbursement funds, up to $2,500, are available for the following:

  • Business Soft Costs associated with opening or expanding a business in the City of Groton;
  • Minor Façade Improvement costs associated with rehabilitating commercial façades within the City of Groton Tax Increment Financing District.

 

Program Policy & Procedures

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Business Soft Cost Application

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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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