Business Friendly States: Connecticut in Profile

Business Friendly States: Connecticut in Profile

There are many reasons that businesses choose to locate their companies in the state of Connecticut. These include low crime rates, minimal poverty rates, healthy populace, and strong educational systems, all of which contribute to the business friendly nature of the state as a whole.

Major private employers that have chosen to locate their business to Connecticut include companies such as Yale University, Sikorsky Aircraft Corporation, Foxwoods Resort and Casino, Pratt & Whitney, The Hartford, University of Connecticut Health Center, Danbury Hospital, Mass Mutual Financial Group, Travelers, UTC Aerospace System, Cigna Corporation, and Yale-New Haven Health Systems just to name a few. These companies are faced with higher levels of corporate taxes than what is seen in other nearby states. They have also seen higher costs for commercial real estate, business staffing, equipment start-up costs, and other such business expenses. Company owners and entrepreneurs still find they are able to take advantages of the superior quality of life and bountiful tax incentives that are in place throughout Connecticut.

Tax Incentives in Connecticut

Companies of all shapes and sizes will find that there are enticing tax incentives and credits for their company to take advantage of. These credits are available for financial services companies, media and film production companies, manufacturers, research and development service providers, entrepreneurs, corporations, and many others. Many of the credits that can be found can be carried forward or back for up to 5 years. With Connecticut's tax incentives in place the higher cost of doing business in the state can be made more affordable for struggling businesses and start-up business ventures.

Working and Living in Connecticut

When it comes to the quality of life a state has to offer business owners and entrepreneurs, you simply cannot find many better locations than Connecticut. In fact, Forbes and CNBC among other sources have ranked this state as being number two within the country for quality. Residents find the smaller, more intimate community settings that are found throughout Connecticut to be the ideal location for raising their families as they can enjoy amenities that are just not found in larger metropolitan cities throughout the country. Connecticut offers a wide selection of outdoor activities that give individuals much to enjoy regardless of their choice in hobbies or free time activities. The natural beauty found in all areas of this state is without comparison.

Education and Training in Connecticut

Business owners and entrepreneurs have found Connecticut provides a top ranking workforce. With some of the United States best business focused educational facilities situated in this area there is always access to professionals that offer fresh, new ideas Stafford University, Harvard, and other educational facilities are working with business owners to create apprenticeship programs and co-op opportunities for students to allow them to gain hands-on experience in their chosen fields.

In Conclusion

The key to getting the most out of your business experience in Connecticut is to find a reputable real estate agent or commercial property broker that you can work with when initially selecting property for your business location. From there you must have a solid business plan in place that will include talking to business related organizations. These experts can give you tips and information for securing capital, obtaining incentives and tax credits, and anything else your new business may require.