Economic Incentives
Sunday June 25, 2017

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50 Church Street, Windsor Locks, CT 06096

TIF District

The Windsor Locks Downtown Tax Increment Financing (TIF) District is the first of its kind in the state of Connecticut.  The TIF allows 100% of the tax value newly created in the district to be captured by the town in a special TIF Development Program Fund, which may be put to a variety of uses in the district, including incentives for developers.

Tax Increment Financing Policy (adopted 10/4/16)

Downtown Tax Increment Financing District and District Master Plan (effective 11/15/16)

TIF Map

 

Bradley International Airport and the Bradley Development Zone

Each day, more than 20,000 people pass through Bradley International Airport.  Many of them eat, stay, or shop here, creating a unique opportunity for local businesses.  Bradley currently offers nonstop flights to international destinations such as Dublin and Cancun, with more exciting options on the way.

The Bradley Airport Development Zone extends enterprise zone tax incentives to manufacturers and other specified businesses that develop or acquire property in the zone and create jobs. 

 

Foreign Trade Zone

Located in Windsor Locks adjacent to Bradley International Airport, Foreign Trade Zone #71 (FTZ#71) was established in 1981. In 2015, it was authorized by the U.S. Foreign Trade Zone Board to expand benefits to the five northern counties in CT. This includes Hartford, Litchfield, Middlesex, Tolland, and Windham counties, making all five eligible for FTZ access.

This allows importers and exporters access to the advantages of operating on a site within the U.S. where foreign and domestic merchandise are considered as not being within international commerce rather than U.S. Customs territory. This means that foreign or domestic merchandise may enter the trade zone without a formal Customs entry and without payment of duties or excise taxes.

Operating within a foreign-trade zone offers the following duty and tax relief:
• If the final product is exported from the U.S., U.S. Customs or excise tax is paid.
• If the final product is imported into the U.S., U.S. Customs duty and excise taxes are due at the time of transfer from the trade zone only on the product itself (or its imported parts, whichever is lower).

Locating your operation in a trade zone offers many advantages to manufacturers, processors, importers and exporters. In Foreign Trade Zone #71 you can:
• Store goods free of duty, tax or bond.
• Avoid quotas when you manufacture, repackage, process, assemble, test, clean, repair and relabel goods for re-export.
• Apply the “Made in U.S.A.” label if the value added in the trade zone is over 50%
• Avoid duties and quotas on materials lost in the manufacturing process.
• Inspect goods and all papers, licenses, and permits before paying duties.

For more information about the FTZ, contact:

Dan Carstens, Administrator
Foreign Trade Zone # 71
P.O. Box 307
Windsor Locks, CT 06096
Email: djcarstens@outlook.com
Mobile: (860) 306-3214

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