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NEW GRANT ENCOURAGES JOB CREATION IN CONNECTICUT

NEW GRANT ENCOURAGES JOB CREATION IN CONNECTICUT

The JobsCT Grant Program provides opportunities for Connecticut workers and the companies seeking to hire them.

This grant incentivizes Connecticut companies looking to create new jobs as well as businesses seeking to relocate here. Recipients can earn a grant-in arrears equal to 25% of the withholding taxes from net new employees. Payouts are earned in years three through seven. (Years eight and nine are discretionary.) The opportunity for a 50% grant is available to employers that locate or expand in a Distressed Municipality or Opportunity Zone.

To be eligible for a JobsCT grant, your company must:

  • Create a minimum of 25 new jobs.
  • Offer salaries that are 85% of the median household income of the municipality where the jobs will be located.

Priority considerations will be given to businesses that create jobs in industries such as:

  • Manufacturing
  • Corporate headquarters
  • Life sciences
  • Entertainment/digital media
  • Clean energy
  • Insurance/financial services
  • R&D facilities
  • Aerospace/defense
  • Information technology sectors

Do you have questions about your business’s eligibility for the JobsCT Grant Program? UHY has your answers. Call us at (860) 590-3330, or fill out the form and send it to us. Someone from our office will contact you to discuss this opportunity.

 

06/08/2022

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