The Information Technology Zone is a 42-block area in the heart of downtown Waterbury that was established in 1998 as a result of legislation introduced by Senator Stephen Somma. The Information Technology Zone is administered by Naugatuck Valley Development Corporation on behalf of the City of Waterbury and funded by the Connecticut Department of Economic and Community Development. The fiber optic cable will be installed by Fall 2000. This abatement can be granted for the life of the lease or for the life of the business operation in Waterbury.
Abatements are also available for real property taxes.
Some qualifying companies may be able to tap into all three funds. Most loans mature in five years or less. If you use voice, data, video or other electronic transmission media to conduct your business, chances are you'll qualify for Information Technology Zone benefits. Examples range from transaction processing centers to Internet-related companies and software developers. All kinds of businesses including restaurants, retailers and service establishments located in the nine-block area designated as the Downtown Incentive Fund Priority Area may be eligible for business financing assistance through the Downtown Development Incentive Fund.