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HARTFORDBUSINESS.COM | JUNE 10, 2024 5 What's Trending These projects/companies were recently approved for a CT sales and use tax exemption deal COMPANY/PROJECT MAXIMUM EXEMPTION Connecticut Proton Therapy Center $5M Home Market Foods $700,000 New England Cell Therapeutics $500,000 Source: CT Innovations Sales and use tax exemptions in CT FISCAL YEAR TOTAL DEDUCTIONS STATE REVENUE FORGONE 2017-18 $237.8M $15.1M 2018-19 $252.2M $16M 2019-20 $230.9M $14.7M 2020-21 $272.1M $17.3M 2021-22 $265.1M $16.9M 2022-23 $288.2M $18.3M Source: Dept. of Revenue Services CT Innovations approves tax breaks for major medtech, food manufacturing projects By Andrew Larson alarson@hartfordbusiness.com C onnecticut Innovations, the state's quasi-public venture capital arm, has approved sales and use tax exemptions for three major projects, including the state's first proton therapy center in Wallingford. The projects sought tax benefits under the state's Sales & Use Tax Relief Program, which exempts companies from Connecticut's 6.35% sales tax, up to a certain amount, for capital equipment and/or construction materials purchases. CI's loan committee in May approved up to a $5 million tax exemp- tion for construction costs related to the Connecticut Proton Therapy Center's 25,000-square-foot facility. Yale New Haven Health, Hartford HealthCare and Proton International have partnered to develop the $75 million proton therapy center, which is under construction. Also, the committee approved a $700,000 tax exemption for Home Market Foods Inc.'s expansion and renovation of the former Carla's Pasta facility in South Windsor. Home Market Foods, based in Norwood, Massachusetts, has proposed a $71 million upgrade and 28,000-square-foot addition to the existing facility, at 50 Talbot Lane and 280 Nutmeg Road, for a frozen food manufacturing plant. The company produces frozen meatballs and other foods, including hot dogs. In addition, the loan committee greenlit up to a $500,000 tax exemp- tion for New England Cell Thera- peutics Inc.'s construction of a new biotechnology research and develop- ment facility in Windsor. The company in 2021 proposed to build a 50,000-square-foot facility at 2195 Day Hill Road, but the project has been delayed. In 2022, New England Cell, which is owned by Japan-based Nipro Group, purchased the roughly 40-acre site for $4.4 million. The company is developing medical equipment and test- and diagnostic-related products. To qualify for the Sales & Use Tax Relief Program a project must be valued at more than $4 million. CI requires a letter of credit so the agency can force repayment if a company falls short of its requirements, or moves out of state within 10 years. Full or partial clawbacks have occurred. The exemptions require approvals only from CI's loan committee. HBJ Editor Greg Bordonaro contributed to this story. Massachusetts-based Home Market Foods is eyeing this 148,083-square-foot food production plant, at 50 Talbot Lane and 280 Nutmeg Road in South Windsor, for a new frozen food warehouse. PHOTO | COSTAR A rendering of the Connecticut Proton Therapy Center planned for 932 Northrop Road in Wallingford. CONTRIBUTED