ANNOUNCEMENT 29 Mar 2016

The state government is providing tax credits, a loan, and a training grant.

 

NUMBER OF INTERVENTIONS

3

  • 3 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 29 Mar 2016 | Removal date: open ended
Still in force

Tax or social insurance relief

On March 29, 2016 Governor Dannel P. Malloy of Connecticut announced that the headquarters of Bob’s Discount Furniture, a national furniture store chain, will expand in Manchester with a new project that will significantly increase the company’s space, retain 326 people, and create 125 new jobs in the next five years. The company is eligible for up to $11 million in tax credits through the Urban and Industrial Sites Reinvestment Tax Credit Program.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
N/A
Inception date: 29 Mar 2016 | Removal date: open ended
Still in force

State loan

The Connecticut Department of Economic and Community Development will also provide a ten-year, $7 million low-interest loan to support the project. State funding may be used for machinery and equipment and leasehold improvements.

 
N/A
Inception date: 29 Mar 2016 | Removal date: open ended
Still in force

Financial grant

The company is also eligible for a $1.7 million grant to train employees.

 
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