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Waterbury’s Urban Jobs Program

The Waterbury Development Corporation administers the Urban Jobs Program for the City of Waterbury.

The benefits of this program are primarily intended to assist manufacturers, however, some wholesale businesses and certain financial and business-related services may also qualify on a case by case basis. The benefits are:

  1. a 5-year, 80% tax abatement on real estate taxes and personal property taxes for personal property that is new to the city’s grand list.
  2. a 25% tax reduction on state corporate business taxes for a 10-year period, attributable to increases in income as a result of the project.
  3. an 80% tax abatement on qualifying personal property purchased or leased within the 5 year certificate term; said abatement applies to the remaining years remaining in the certificate from date of purchase. This applies to personal property that has been reported on form M-47 (Future Acquisitions List).

To qualify for these benefits, an applicant would have to meet all of the following requirements:

  1. the business must have the appropriate North American Industrial Classification designation, as recognized by the Connecticut Department of Labor,
  2. the location must have been vacant or idle for a period of one year,
  3. if the business does not own the property, the business must have a minimum 5 year lease with a 5 year option to renew and
  4. it must be demonstrated that the project results in an economic benefit to the City and/or State and that the availability of the benefits provides the inducement to undertake the project at the location under serious consideration.

Urban Jobs benefits are granted on an annual basis on October 1st.  By this date, a company would have to:

  1. have a signed lease, or acquired the property,
  2. have relocated its operations into the space,
  3. have the operation up and running,
  4. have formally filed an application for Urban Jobs benefits through this office.

Should this be the case, then an applicant would be eligible to receive benefits as of that October 1st Grand Year list.

There may be minor deviations of structuring or approaching a claim for benefits.  Prior to undertaking a project or executing a lease, it is strongly suggested that a business client discuss the issue with a WDC official in order to determine eligibility.