Doing Business in Westville
This page is under development. If you know of a resource you would like us to list, please send us an email at wvra@westvilleCT.org
COMING SOON:
For Sale or Lease: WEstville Village Commercial Property Database
Westville Knowledge Bank: Demographic & Market Information
BUSINESS INCENTIVES AND RESOURCES
Westville Village Renaissance Alliance (WVRA) serves as an information clearinghouse for local, state and federal incentives, grants and loan programs for small business. Several programs outlined below are only available to businesses located in designated geographical areas, including areas within the greater Westville neighborhood or the City of New Haven.
- Tax Credits
- Grants and Subsidized loans
- Preferential contracting
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Other resources
TAX CREDITS
State Job Creation Tax Credits Three job creation tax credit programs are available to Connecticut businesses, including one designed for small businesses. These programs allow employers to take up to $200 per month per employee in credits against state taxes for each new job created. Click here for a table showing the major components of each of the job creation programs, and here for more information.
State and Federal Historic Preservation Tax Credits State and federal tax credits are available for some kinds of residential, commercial and multi-use projects in Westville Village and the greater Westville area.
- For information about the Connecticut Historic Homes Tax Credit, click here. Together with the New Haven Preservation Trust, WVRA holds a historic homes tax credit seminar every spring.
- For information on the Connecticut Historic Structures Rehabilitation Tax Credit, click here
- For information on the Connecticut Historic Preservation Tax Credit, click here
- For information on federal historic preservation tax credits, visit the National Trust Community Investment Corp.
Federal New Market Tax Credits All of Westville Village except for the south side of Fountain Street lies within a federally designated "New Market" area, which means certain investments qualify for tax credits. For more information, visit the National Trust's New Market page or the official U.S. government page, here. Enter "Westville, CT" in the address finder for a map showing Westville's New Market boundaries here. Guidance for those interested in New Market programs is available. Westville Village Renaissance Alliance can connect interested parties with a New Market expert.
State Enterprise Zone Tax Credits Certain manufacturing, bio-tech and entertainment-oriented companies throughout New Haven may benefit from the state Enterprise Zone program. Benefits include property tax abatement and corporate income tax credits. More information is available here, from the Connecticut Department of Economic and Community Development (DECD), and here, from the City of New Haven Economic Development office. Note that DECD literature has not been updated to reflect New Haven's designation as an Entertainment District under the Enterprise Zone program. City of New Haven Office of Economic and Business Development personnel have up-to-date information and expertise on the New Haven Entertainment District and the Enterprise Zone benefits that come with it.
GRANTS and SUBSIDIZED LENDING
New Haven Facade Improvement Grant The City of New Haven will reimburse 50-percent of the cost of approved facade improvements to commercial and mixed-use properties to a maximum of $30,000, as funds allow. An additional $1,500 in grants may also be available to reimburse facade design costs. For more information and an application, visit the program's website here.
Small Business Administration (SBA) loans Government-backed loan program that assumes some of the risk for loans by participating banks. Click here for SBA.gov, and here for the Connecticut SBA office.
Urbank, Connecticut Development Authority Urbank guarantees loans to small businesses that otherwise would not be able to access financing.
Community Economic Development Fund (CEDF) New Haven is one of several cities and towns in Connecticut where CEDF lends to small businesses. CEDF also partners with communities on development projects, hosts training programs for small business owners and offers state tax credits to investors who donate or lend money to CEDF.
Elmseed Enterprise Fund Elmseed is a local nonprofit microcredit organization that provides small loans, business training and affordable business consulting to entrepreneurs.
PREFERENTIAL CONTRACTING
HUB Zones Most of Westville Village and the West Rock neighborhood are in a HUB zone. Qualified businesses in HUB zones enjoy heightened opportunities to contract with the federal government as vendors.
Minority procurement Government agencies, major corporations and multinational development organizations have minority procurement programs that exercise a preference for buying goods and services from 51-percent woman or minority-owned businesses. A good summary of the process is available from the U.S. Directory of Latina-Owned Businesses, here.
OTHER BUSINESS RESOURCES
Connecticut Main Street Center Westville Village Renaissance Alliance is a Connecticut Main Street organization
Connecticut Department of Economic and Community Development (DECD)
Connecticut Development Authority (CDA)
Connecticut Economic Resource Center (CERC)
City of New Haven Office of Economic and Business Development
Economic Development Corporation of New Haven
Greater New Haven Chamber of Commerce
Connecticut Business and Industry Association
Connecticut Small Business Development Center The local office of this free business assistance center is close by at Southern Connecticut State University.
Entrepreneurial Women's Network
Service Corps of Retired Executives (SCORE) Retired executives volunteer to advise and mentor business people.