New Britain's bold plan for its future starts with a clear understanding of its assets. For the business considering relocating, we have a lot to offer. The city is conveniently situated in the geographic center of the state. It can offer new businesses affordable real estate and, with its strong industrial heritage, a skilled work force. And the city supports businesses and their employees with tremendous cultural resources and educational networks. Whether you start up or relocate a company in New Britain, you'll join a vibrant business community with more than 2000 companies. But, that's just the start. New Britain is a targeted investment community, which enables it to offer services to attract business and help them prosper. Businesses relocating in New Britain, for instance, can benefit from the State of Connecticut's Enterprise Zone program. The program is a cooperative venture between the city and the state, encouraging development in selected areas. To achieve this goal, the program employs attractive incentives like special financing programs, job training assistance, grants for job creation, and tax incentives. Unlike many other cities, New Britain's Enterprise Zone includes the entire downtown area as well as nearby industrial sites. This allows the city to offer special incentives for commercial development as well as the more traditional manufacturing incentives. A major private sector initiative has also created a special taxing district in the downtown core, enabling property owners to pool their money toward special downtown projects such as streetscape improvements, coordinated management, and marketing. Promoting Development Incentives: Seven-year Enterprise Zone Tax Abatement for increases in assessed value resulting from real property improvements. Enterprise Zone Property Tax Abatement associated with real property improvement projects exceeding $100,000 in cost. Special Seven-year Negotiated Tax Fixing Agreement for real property improvement projects that exceed $3 million in investment. Business Assistance and Commercial Improvement Loan Program. Providing loan assistance of up to $25,000 to businesses and commercial property owners located or locating in designated Neighborhood Revitalization Zones. Central Connecticut Revolving Loan Fund.A collaborative between government and the private sector. The fund recognizes the critical importance of manufacturing to the region. It offers low interest loans of up to $100,000 for manufacturers and $25,000 for retail businesses. New Britain Chamber of Commerce offers assistance through: Business Assessment and Retention Visits, to help assess needs of local businesses; free Business Counseling available through the Service Corps of Retired Executives (SCORE) for small start-up businesses. Easy access to listings of available commercial and industrial real estate and local and regional lending institutions through the Chamber of Commerce. The Connecticut Manufacturer's Assistance Act A low interest loan program that can be used toward capital expenditures, machinery, land, building, training and recruiting. The State of Connecticut Urban Jobs GrantProgram. Provides up to 80 percent property tax abatement for companies creating jobs in urban areas. The State of Connecticut Community Economic Development Fund (CEDF). A public/private partnership helping small businesses in Connecticut's targeted investment communities. CEDF makes loans of $5,000 to $500,000 to small businesses and mixed use property owners. Employer Training Incentives Benefits from State of Connecticut Department of Economic and Community Development include training expenses for course and curriculum development, software, and trainers and resources for locating pre-screened applicants. The program is flexible and can be tailored to fit companies' needs. General tax credits are available for apprenticeship training; employee training and research and development. Our local Workforce Development Board uses federal employment and training funds to support business and industry by integrating education, economic development, employment, training, and human services to ensure businesses will have the skilled workers needed, now and in the future.