Connecticut is the southernmost state in the New England region of the northeastern United States. As of the 2010 Census, Connecticut features the highest per-capita income, Human Development Index (0.962), and median household income in the United States. Connecticut is bordered by Rhode Island to the east, Massachusetts to the north, New York to the west, and Long Island Sound to the south. Its capital city is Hartford, and its most populous city is Bridgeport. Although Connecticut is technically part of New England, it is often grouped along with New York and New Jersey as the Tri-state area. The state is named for the Connecticut River, a major U.S. river that approximately bisects the state. The word "Connecticut" is derived from various anglicized spellings of an Algonquian word for "long tidal river".

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Low-Interest and Forgivable Loans Low Interest Financing

The State has the discretionary authority to provide low-interest loans to business making significant capital improvements and retaining and creating new jobs. The State, through the Department of Economic and Community Development (DECD), at its discretion may forgive a portion of the loan principal (convert to a grant) if certain minimum employment and investment thresholds are met.

Municipal Tax Abatement

Each municipality in the state has the ability to offer, on a sliding scale depending on level of investment, local tax abatements for both real estate and manufacturing machinery and equipment.

Enterprise Zones Tax Abatement

Businesses that locate inside an Enterprise Zone, or within a community which contains a zone, may be eligible for an abatement on real and business personal property taxes of up to 80% for 5 years and a 10-year, 25% tax credit on the portion of the Connecticut corporation business tax that is directly attributable to the company relocation, expansion or renovation project.

Research and Development Credits Tax Credits

Equal to 20% of R&D expenditures in Connecticut in the current income year exceeding R&D expenditures of the prior taxable year. Unsold credits can be carried forward, and for companies with less than $70 million in gross income, credits can be sold to the State for 65% of their value.

Urban and Industrial Sites Reinvestment (URA) Credit Tax Credits

Primary incentive tool used by the State to attract new business investment and job creation to economically distressed areas. Companies that invest at least $5 million in facilities located in eligible areas may be entitled to a non-refundable corporate income tax credit under this discretionary program. T

Real and Personal Property Tax Exemptions

Municipalities have the discretion to provide a negotiated exemption from real and personal property tax for up to 30 years. State statutes also provide for exemption of tax on certain newly acquired and installed machinery, inventories, unbundled software, commercial motor vehicles; dependent on certain conditions.

Sales and Use Exemption Tax Exemptions

he State has the discretionary authority to provide an exemption from state sales tax on the purchase of construction materials and furniture, fixtures and equipment for businesses that make capital investments and create jobs. Equipment, tools, machinery, supplies, materials, and fuel used in renewable energy and clean energy technology industries are also exempt from state sales and use tax.

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Census Data

Population estimates, July 1, 2016, (V2016)3,576,452
Population estimates base, April 1, 2010, (V2016)3,574,114
Population, percent change - April 1, 2010 (estimates base) to July 1, 2016, (V2016)0.10
Population, Census, April 1, 20103,574,097
Age and Sex
Persons under 5 years, percent, April 1, 20105.70
Persons under 18 years, percent, April 1, 201022.90
Persons 65 years and over, percent, April 1, 201014.20
Female persons, percent, April 1, 201051.30
Race and Hispanic Origin
White alone, percent, April 1, 201077.60
Black or African American alone, percent, April 1, 201010.10
American Indian and Alaska Native alone, percent, April 1, 20100.30
Asian alone, percent, April 1, 20103.80
Native Hawaiian and Other Pacific Islander alone, percent, April 1, 2010
Two or More Races, percent, April 1, 20102.60
Hispanic or Latino, percent, April 1, 2010 (b)13.40
White alone, not Hispanic or Latino, percent, April 1, 201071.20
Population Characteristics
Veterans, 2011-2015199,331
Foreign born persons, percent, 2011-201513.90
Housing units, April 1, 20101,487,891
Owner-occupied housing unit rate, 2011-201567.00
Median value of owner-occupied housing units, 2011-2015270,500
Median selected monthly owner costs -with a mortgage, 2011-20152,067
Median selected monthly owner costs -without a mortgage, 2011-2015833
Median gross rent, 2011-20151,075
Families and Living Arrangements
Households, 2011-20151,352,583
Persons per household, 2011-2015257.00
Living in same house 1 year ago, percent of persons age 1 year+, 2011-201587.80
Language other than English spoken at home, percent of persons age 5 years+, 2011-201521.90
High school graduate or higher, percent of persons age 25 years+, 2011-201589.90
Bachelor's degree or higher, percent of persons age 25 years+, 2011-201537.60
With a disability, under age 65 years, percent, 2011-20157.10
Persons without health insurance, under age 65 years, percent6.90
In civilian labor force, total, percent of population age 16 years+, 2011-201567.20
In civilian labor force, female, percent of population age 16 years+, 2011-201562.80
Total accommodation and food services sales, 2012 ($1,000) (c)9,542,068
Total health care and social assistance receipts/revenue, 2012 ($1,000) (c)29,573,119
Total manufacturers shipments, 2012 ($1,000) (c)55,160,095
Total merchant wholesaler sales, 2012 ($1,000) (c)161,962,244
Total retail sales, 2012 ($1,000) (c)51,632,467
Total retail sales per capita, 2012 (c)14,381
Mean travel time to work (minutes), workers age 16 years+, 2011-201525
Income and Poverty
Median household income (in 2015 dollars), 2011-201570,331
Per capita income in past 12 months (in 2015 dollars), 2011-201538,803
Persons in poverty, percent10.50
All firms, 2012326,693
Men-owned firms, 2012187,845
Women-owned firms, 2012106,678
Minority-owned firms, 201256,113
Nonminority-owned firms, 201256,113
Veteran-owned firms, 201231,056
Nonveteran-owned firms, 2012281,182
Population per square mile, 2010738
Land area in square miles, 20104,842