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Municipal incentives are consistently among the most used economic development policies and often account for significant public expenditures. Municipalities that have incentive policies should ensure that they “align with broader economic objectives, embrace public transparency and rigorous evaluation, and only target firms that advance broad-based opportunity” (Parilla and Liu, 2018). Communities should also make policies, fees, and mill rates widely available for transparency.
For example, the City of Groton has a Business Soft Cost Grant program. The objective of this program is to strengthen Groton’s business base and stimulate growth by providing incentives to qualifying new or expanding businesses. The grant covers small costs associated with the planning & zoning process such as architectural and surveying expenses. In addition, the grant award serves as a reimbursement to the business or property manager for expenditures and can be improved up to $1,000. The town of Farmington also has a Resource Page which includes local, state and federal incentives. The information is displayed underneath the section Quick Access to Farmington Incentive Programs and Resources.
This work is licensed under a Creative Commons Attribution NonCommercial 4.0 International License.
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