The Mission for the New Colony Development Corporation (NCDC)
NCDC is a non-profit development corporation exempt from federal income taxes as a 501c3. It has a statewide CT geographic catchment area, able to work in urban, suburban and rural communities as well as for profit and non-profit organizations
Specifically, NCDC can:
- Locate, acquire, buy, sell, exchange, barter, own, hold in trust, mortgage, convey, transfer, pledge, sell, lease, manage, improve and otherwise handle real estate and individual sites and to make contracts for, to remediate, repair, improve, build, erect and construct buildings to promote opportunities for small businesses and homeowners to maintain the operations of the Corporation. NCDC can take title of contaminated property as a CT Certified Brownfield Land Bank and can be empowered under CT state statutes (i.e. CGS 130 and 132) to serve as the Implementing Agency for State or federal programs.
- Engage in planning for and promoting the establishment and expansion of diversified industries. To compile and disseminate commercial and economic information and promotional material designed to recruit or retain commercial enterprises to locate communities.
- Promote Workforce Strategies by relieving unemployment and by creating employment or by sponsoring job training programs.
- To assist in the planning of business incentives that may encourage recruit or retention of commercial enterprises.
- To raise funds by borrowing, by subscription, preparing grants by gift or other lawful means from individuals, local governmental bodies, corporations, associations or organizations
- To work with such municipal, public, regional, private or quasi-public entities and organizations as the Corporation deems necessary and appropriate to directly or indirectly benefit the economic climate.