Economic Development Coordinator
Beacon Falls was incorporated in 1871. During the late 1800s and early 1900s, the town began to grow and thrive because of its industrial economic base. The Naugatuck River was a valuable resource, as its waters were harnessed for benefits in aiding industry.
The largest company in town during this period was the Beacon Falls Rubber Shoe Company - a sprawling complex along Main Street. The factory employed a large portion of residents and was even responsible for the construction of an entire neighborhood, providing housing for its workers. The Homer D. Bronson Company also set up shop in town in the early 1900s and was a manufacturer of hinges used in industry and homes throughout the world. These two firms promoted economic wellbeing for Beacon Falls' residents for years.
During the 1970s, the town's two major employers began to see a decrease in demand, and production dwindled. By the 1980s, both firms had left Beacon Falls. The town faced a precarious future and needed to reinvent itself to survive.
Over the next couple decades, a variety of retail, manufacturing, warehousing, construction, and service businesses revitalized the town, and a solid tax base returned. Beacon Falls is now poised to take advantage of global business markets. By welcoming like-minded visionaries and creative entrepreneurs, investors, and trendsetters, the town will continue to evolve successfully. A combination of proven history and steadfast commitment to business success makes Beacon Falls the place to be for your business. Contact us today.
Town of Beacon Falls Tax Incentive Ordinance
The Beacon Falls Tax Incentive Program attracts new commercial development to Beacon Falls and encourages existing businesses to expand by offering partial relief from local property tax burdens.
Specifically, the goals of the Program are:
Applications to the Beacon Falls Tax Incentive Program will be accepted from any individual, group, or entity that pays or will pay real estate taxes in the town, provided:
The Board of Finance will recommend tax incentives as allowed by State statute after considering the following criteria:
These criteria are not exclusive, and the members of the Board may consider other issues when appropriate to do so. Each application presents a unique set of circumstances, the applicant should make the Board so aware should those circumstances require the consideration of additional factors.
The amount of the incentives are as follows:
For capital improvements of $150,000 or greater:
For capital improvements of $300,000 or greater:
For capital improvements of $2,500,000 or greater:
Any of these packages must be approved by the legislative body of the Town of Beacon Falls in order to enable the Town and business to enter into a written agreement.
Enterprise Corridor Zone
The Town of Beacon Falls participates in the Naugatuck Valley Enterprise Corridor Zone Program that is run through the Connecticut Department of Economic and Community Development. The program offers tax incentives to firms in the industries listed below:
Projects eligible for the Enterprise Zone benefits must meet the following criteria:
The benefits associated with the program are as follows:
Recipients of the benefits of the program are not eligible to receive additional tax incentives from the Town of Beacon Falls. The granting of Enterprise Zone benefits is at the discretion of the State of Connecticut, and the Town of Beacon Falls has no regulatory authority over the process.
Education and Workforce
Because of Beacon Falls’ central location, it is surrounded by a ready and eager workforce. Nearly 200,000 students graduate each year from Connecticut’s 40 institutions of higher education. Accordingly, Beacon Falls’ residents are well-educated, with 31% holding a bachelor’s degree or higher, and technically-trained, which 16% of the town’s workforce employed in manufacturing. In particular, Naugatuck Valley Community College offers robust Associate’s Degree and certificate programs designed to cater to the workforce needs of the local business community.
Wholesale trade: A large portion of the town’s workforce is employed in wholesale trade, with large firms like NEJ, Inc. calling Beacon Falls home. Easy access to interstate highways and abundant land zoned for industrial use are major reasons why wholesale trade is thriving in the community.
Construction: Construction is a significant industry in Beacon Falls, with 18.3% of the workforce being employed in this sector. DiGiorgi Roofing & Siding is the largest construction firm in town, and it remains here because of the technically-skilled workforce and central location within the state.
Manufacturing: Manufacturing employs 15.8% of Beacon Falls’ workforce and has historically been a very strong industry in town. A larger proportion of Beacon Falls residents are employed in manufacturing than in the state or surrounding towns. Companies like Goldenrod Corporation and Magna Steel are located in town because of its strong workforce and Enterprise Corridor Zone designation, which allows state tax incentives for manufacturing firms.
Beacon Falls is midway between New York City and Boston. It is positioned along Route 8 close to Interstate 84 to the north and Interstate 95 to the south. The town is only one hour away from Bradley International Airport and 90 minutes away from New York City airports. The MetroNorth Railway stops in town, with service expansion planned for the next few years, and alternate truck routes are available.
For more information on the Naugatuck Valley Region, please see this Regional Profile: