Good News for Groton – Opportunity Zone Established

April 24, 2018

As part of the Tax Cuts and Jobs Act of 2017 Groton, CT now has the opportunity to further its economic outlook with the establishment of the Opportunity Zones Program which provides incentives for private reinvestment.

This program is a federal program enacted by Congress that offers a tax credit against federal tax liability. Investment Capital may be used for business expansion, real estate development, transit related projects, and energy efficiency and renewable energy efforts.

Instead of continuing to raise taxes like Governor Malloy and his Democrat Colleagues, this program will help to create organic economic growth and opportunity. These are the types of federal programs that Connecticut must maximize in order to move our state forward.

Learn more about the Opportunity Zone Program, here.