THE CITY OF TORRINGTON OFFERS THE FOLLOWING ASSISTANCE PROGRAMS:
Tax Incentive Policy
In an effort to attract, retain and expand business, the City of Torrington has adopted a tax incentive policy.
This policy establishes a tax abatement/deferral program for the City and allows the city to enter into written agreements with the owners and/or lessees of certain real property located with the city limits.
The purpose of the program is to diversify the economic base, create and retain jobs, and to encourage and leverage private investment. Eligible uses for the loan funds include acquisition, construction, rehabilitation, purchase/installation of machinery and equipment, or working capital.
NAA Tax Credit Program
The Connecticut Neighborhood Assistance Act (NAA) Tax Credit Program is designed to provide funding for municipal and tax exempt organizations by providing a corporation business tax credit for businesses who make cash contributions to these entities.
For more information, please contact the Office of Economic Development at 860-496-5920.