State Grants To Support Economic Development In Norwich

NORWICH, CT — The State Bond Commissions has approved the release of $99 million in state funding to support the second round of grants under the Community Investment Fund 2030, a grant program established in 2022 to support economic development in historically underserved communities across Connecticut.

Business Park North in Norwich will receive $11.391 million of that amount. The funding will go toward constructing an arterial roadway, pedestrian/bike lane, bus stops, and stormwater management, as well as utility installation and upgrades.

This work will facilitate the access to, and construction of, 12 sites hosting buildings ranging from 9,000 to 500,000 square feet for warehouse, manufacturing, distribution, office space, and research and development uses.

“The Community Investment Fund was established last year to improve the economic vibrancy of historically underserved neighborhoods,” Gov. Ned Lamont said in a statement. “Over the next several years, this program will be responsible for providing an incredible amount of opportunities for Connecticut’s cities and towns to revitalize their economic base and chart a path of equitable growth. Each of these projects supports this goal, and I am glad we’ve been able to get them approved.”

The Community Investment Fund 2030 is anticipated to release up to $875 million in grants a five-year period. Eligible projects include capital improvements, such as those focused on affordable housing, brownfield remediation, infrastructure, and public facilities, as well as small business support programs that provide revolving loans, gap financing, microloans, or start-up financing.

Projects must be "intentionally designed to further consistent and systematic fair, just, impartial treatment of all individuals, including those belonging to underserved and marginalized communities," according to the statement.

This second round of grants supports 28 projects from 20 municipalities.