Middletown Job Creation Incentive Grant Program « Back to Search Results
Middletown Job Creation Incentive Grant Program

Category: Grants


The Job Creation Incentive Grant Program is a program offered by the City of Middletown to provide incentives to companies making substantial investments in new employment within the City of Middletown. Companies creating a minimum of 15 full-time jobs and $750,000 in payroll are eligible to participate in the program. The grant is equal to 15% of the Middletown city income taxes collected annually for every $1 million in new payroll created, up to a maximum percentage of 50%. Taxes are returned as a grant for up to 10 years. The grant is capped at $100,000 annually for any single project.

Job Creation Incentive Grant Financial Impact Summary

Levels Annual New Payroll Annual Income Tax Percent Abated Annual Grants Total Years Total Grants
Level 1 $750,000 $17,500 15% $2,625 4 $10,500
Level 2 $2,000,000 $35,000 30% $10,500 6 $63,000
Level 3 $3,000,000 $52,500 45% $23,625 8 $189,000
Level 4 $4,000,000 $70,000 50% $35,000 10 $350,000