Seymour leaders have approved a plan to give tax breaks to new or growing businesses in town.
The proposal could see some large businesses paying no taxes for up to seven years.
The plan went into effect on March 7, the day after the Board of Selectmen approved it at a regular meeting.
Click here to read a past story about the tax incentive plan.
The plan allows Seymour to offer tax breaks for different types of businesses — including retail, restaurants, marinas, and even assisted living facilities.
Previous tax incentive plans in town only offered tax breaks for manufacturing uses.
“We’re excited about it. We think it’s long overdue,” said Chairman John Conroy.
“By adopting this set of incentives in Seymour, we will have a very competitive offering, particularly in relation to towns in our area,” Conroy said in a press release issued by the town. “When combined with the efforts of our new Economic Development Director, our hard-working Economic Development Commission and the current administration, these new incentives should give us a great mix of tools and resources to bring some significant, positive economic development to Seymour in the near term.”
The town’s press release is posted below.
