COMMERCIAL ZONED LAND
2.2 ACRES +/-
- Town Water, Sewer and Gas
- Excellent Location for Retail and / or Light Industrial
- Great Access to I-84 Exit 16 with a 4-Way Exit / Entrance Ramp
- Located in the Middlebury Gateway Industrial Design District
- Deed Restriction – No Food Sales
- Possible Tax Incentives
- Asking $499,000.00
Contact: GERRY MATTHEWS
This program provides a tax abatement for businesses that meet the qualifying requirements in an airport development zone.
KEY INCENTIVES FOR BUSINESSES
For qualifying businesses:
- a five-year, 80% property tax abatement.
A variety of businesses may be eligible for these incentives, including but not limited to the following:
- manufacturer, process or assemble raw materials or parts;
- perform manufacturing-related research and development; or
- significantly service, overhaul or rebuild industrial machinery and equipment;
- warehouse and transport freight (as long as the business is dependent on goods shipped by air);
- provide business services, including information technology services, directly related to airport operations.
These programs are designed to encourage capital improvements to land and/or buildings, businesses must be prepared to either renovate an existing facility by investing at least 50% of its pre-acquisition value in the
renovation, OR construct a new facility, OR expand an existing facility, OR acquire a facility that has been idle (minimum period of idleness depends on average number of employees).
Note: if the applicant is leasing this qualifying facility, the lease must be for at least five years with the option at that point to either 1) renew the lease for an aggregate term of not less than 10 years or 2) buy the facility.
The three approved Airport Development Zones include the following:
- Bradley International Airport (BDL)
- Groton-New London (KGON)
- Waterbury-Oxford Airport (KOXC)
How to Apply
- Prior to starting any project, the business must first submit a Preliminary Questionnaire through the local economic development office for the town.
- The Preliminary Questionnaire will be reviewed by the municipality and forwarded to the DECD. If the business, the facility, and the project all meet the initial prequalifying eligibility requirements, then DECD will provide the formal application with instructions on how to proceed.
- The application – along with all required documents – must be submitted to the Department of Economic and Community Development prior to October 1 of the year in which the project will be completed.
- If approved, DECD will issue a Certificate of Eligibility.