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Research Outline
Prepared for Lisa S. | Delivered September 28, 2019
Stamford, CT Industry Focus
Goals
To provide information on what industry areas governments and organizations are investing in within the Stamford area, to provide data related to what industries are growing in the area
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Early Findings
A state tax incentive program in Connecticut called the
Enterprise Zone
focuses on redeveloping underutilized industry zones. Specifically, the initiative focuses on supporting 10 types of "zone designations", each of which correlates to an industry or set of related industries.
The program focuses on
the following areas
; Entertainment Districts, Qualified Manufacturing Plans, Railroad Depot Zones,
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Enterprises, Airport Development, Contiguous Municipality, Defense, and Manufacturing.
Specifically, the focus on
the entertainment industry
("Entertainment District Zone") has offered a boost to digital media and production in Stamford, and the many
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spaces have brought in tech startups.
Another key initiative within
the Enterprise Zone programs is that
companies engaged in
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biotechnology, and pharmaceutical or
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research are eligible for tax credits when expanding or constructing new facilities.
An additional economic initiative called the
First Five Plus
allocated tax credits to key companies via the state Department of Economic and Community Development.
This initiative doesn'’t however focus on any specific industry, rather
funded companies
that had ability to create jobs; including
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, NBC Sports,
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, ESPN, CareCentrix, Sustainable Building Systems,
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,
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Associates, Charter Communications, Navigators, Pitney Bowes, EDAC and
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Bank.
The state of Connecticut also offered economic support
to company Indeed,
who is expanding their Stamford location to add an estimated 500 local positions.
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Prepared By
Jennifer P.
1308 assignments | 5.0