ANNOUNCEMENT 31 Dec 2015
In 2015 the state of Connecticut provided Urban and Industrial Site Reinvestment corporate tax credits to fluid control products manufacturer Lee Company.
NUMBER OF INTERVENTIONS
The state of Connecticut provides Urban and Industrial Site Reinvestment corporate tax credits of up to 100% for an investment, up to a maximum of $100 million, if the firm is locating in an urban area or on an industrial site. The minimum investment is $5 million in distressed communities; $2 million for a historic preservation facility redeveloped for mixed use; or $50 million in all other communities. The program caps total expenditures for this program at $200 million. The commissioner must submit any requests for credits over $20 million to the legislature for its review and approval.
One beneficiary of these tax credits was fluid control products manufacturer Lee Company, which in 2015 received a $10,000,000 tax credit.