Economic Development Idea Starter: Business Rent Subsidy

The City of New London, CT, offers a Rent Subsidy Program designed to provide financial assistance in the form of rent subsidies for new businesses locating anywhere in the City.

The program is a two year benefit program. During the first year, the rent subsidy is up to $5.00 per square foot. During the second year, the subsidy is up to $2.00 per square foot. (These figures are based upon an average rent of approximately $10.00 per square foot).

In cases in which the tenant pays for improvements to the rental space and the cost of those improvements are applied to the rent (i.e., prepaid rent), the program will pay for monthly utility costs up to $300.00 per month for up to 18 months (but no longer than the pre-paid rent allocation).

For more information about this initiative, please visit:

City of New London: Rent Subsidy Program

Background information:

City of New London

Wikipedia: New London, Connecticut

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About thoslop

Thomas Lopatosky is editor & publisher of New England City & Town.
This entry was posted in Economic Development, Idea Starters and tagged . Bookmark the permalink.

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