Economic Development

Economic Development advances the City of Hartford’s economy and improves quality of life through incentivizing and facilitating commercial real-estate development, attracting investment, and assisting business growth. The primary functions of Economic Development are to:

Advance real estate development and redevelopment through public-private partnerships;
Incentivize investment and development via tax abatements and modifications, grants, and loans;
Achieve the growth and development objectives outlined in the City’s Plan of Conservation and Development;
Attract, expand, and retain high-quality businesses through various incentive programs and strategic partnerships;
Increase partnership opportunities with minority-, woman-, and locally-owned small businesses;
Manage and maintain portfolio of City-owned property and encourage growth and reinvestment through a strategic disposition process;
Compile, analyze, and leverage data and statistical information to inform City and stakeholder investment decisions; and
Partner with and serve as staff support to the Hartford Redevelopment Agency (HRA).

Hartford At-A-Glance

See a summary of Hartford’s demographic, economic, workforce, housing and other data compiled by AdvanceCT here(PDF, 163KB)!

Business Incentive Zones

1. Promise Zones

The Federal Promise Zone initiative encourages collaboration between the federal government, community organizations, the private sector and state and local governments. The City of Harford has neighborhoods identified as Promise Zones. Projects located within Promise Zones receive priority points on federal funding applications. The anticipated outcome in these identified Promise Zones support the increase of jobs and economic opportunities that enable rural areas to thrive. Click here to find out more about the Mayor's North Hartford Promise Zone Initiative.

North Hartford Promise Zone Neighborhood Boundary Map(PDF, 6MB)

2. Enterprise Zones

In 1982, Connecticut was the first state in the country to establish a statewide Enterprise Zone Program. The Enterprise Zone Program designates distressed areas as areas of great opportunity. There are currently 43 designations in the state of Connecticut and Hartford is one of them. This designation allows businesses to receive tax incentives.

Hartford Enterprise Zone Boundary Map(PDF, 933KB)

3. Opportunity Zones

An opportunity zone is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as opportunity zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service (IRS Definition).

The CT.gov website provides additional information about Opportunity Zones in our state.
Visit the IRS Newsroom for Frequently Asked Questions (FAQs) related to Opportunity Zones!

What are Opportunity Zones meant to accomplish?

Opportunity Zones were designed to spur economic development and drive billions of dollars in long-term investment into low-income urban and rural census tracts. This incentive is designed to include local economies in communities that will intentionally benefit the people who live and work there and provide a secure return to investors.

What does this mean for Hartford?

Hartford has 10 Opportunity Zone designations. These Opportunity Zones contain 25% of Hartford's residents and represent the rich culture and diversity of the city at large. Substantial new private investment has flowed into these communities following a restructuring of the City's debt, and an update to the City's zoning code which has created new opportunities throughout the city. Easy access to innovation hubs, including accelerators, maker spaces, and the new UConn Downtown Campus, make Opportunity Zones in Hartford a smart investment.

To find out if your property is in an Opportunity Zone, visit our Planning Viewer using the link below. In the lower left corner of the webpage, click on "Layers", and then select "Opportunity Zones".

Hartford GIS Planning Viewer