Three Companies Qualify to Apply For Benefits in Program Encouraging Development in Woodbury

The Connecticut Airport Authority Board of Directors have given three companies preliminary approval to apply for tax benefits under the new Waterbury-Oxford Airport Development Zone program, the Republican-American reports.

According to the paper, the program is intended to spur development in Oxford, Southbury and Middlebury near the airport and allows companies starting up or expanding to apply for abatements of up to 80 percent of their real estate and personal property taxes for five years and a 10-year 25 percent corporation business tax credit equal to the portion of the facility’s tax.

XAL Inc., KaroTech Inc. and Jasco Battery Specialists are all adding, expanding or acquiring facilities in Oxford and have been approved to apply for the benefits.

Kevin A. Dillon, executive director of the airport authority said he expects the airport to continue to generate jobs in the area, the paper reports.

Read the full story at the Republican-American.

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