Woodbridge, CT Regional Economic Development Update

195 Church St., 14th Floor, New Haven, CT 06510 T 203 821 3682 F 203 821 3683 www.rexdevelopment.com

2015 Comprehensive Economic Development Strategy Update


Woodbridge Economic Development Commission

July 30, 2015


• What is REX?

– Regional

– Collaborative

– Facilitator

• How was it established?

• What is its purpose?

• How can REX assist your town?

REX Development 101


Increased regional marketing

Discussion and coordination among the town EDCs

Tax, labor and utility costs are decreasing our ability to compete

Workforce issues

Aging population

Unemployment

Transportation – need for air service (Tweed or Sikorsky), high speed rail, and congestion at Rtes. 69, 63 and 15.

Maintaining the town’s character while promoting economic development (developing downtown business area), focus on service industries

2012 CEDS Community Outreach Meeting in Woodbridge


The South Central Connecticut region of 2033 will be widely recognized as a diverse and desirable place to live, work, play and run a business because of its:•Outstanding quality of life;•Strong economy and extensive employment opportunities served by effective transportation and communication infrastructure;•Innovative and entrepreneurial character of its residents and businesses;•Cost-effective and well-managed local governments; •Leadership in demonstrating regional pride, cooperation and problem solving.

Vision Statement


Key Industries

1. Biomedical/Lifesciences (includes Healthcare)

2. Higher Education3. Business & Professional

Services4. Advanced Materials5. Advanced Manufacturing


• Created an Action Plan with 6 goals and 29 objectives that are continually worked on by the public and private sectors

– Regional Marketing & Communication

– Infrastructure

– Business Development & Retention

– Workforce Enhancement & Housing

– Real Estate, Land Use and Sustainability

– Funding and Implementation

Synopsis of 2013 CEDS


$70,000 Federal EDA Capacity Building Grant (2014 & 2015

Closed Phase II for the former Atlantic Wire site (Branford)

$75,000 CT Department of Economic and Community Development grant for Regional Brownfield Inventory (2013, 2014 and 2015)

Downtown Crossing is the City's long-term plan to close Route 34, reconnect city streets and neighborhoods through new development between Downtown and the Hill. The project enables development of the 425,000 sq ft medical/lab office building and future home of Alexion Pharmaceuticals. The new world headquarters of Alexion in New Haven represents a $100 million investment in the project.

Regional Progress


$70,000 grant approved by CT DECD for Brownfield Assessment at 43 Atwater St. (Bethany)

Groundbreaking for Jordan’s Furniture 195 square foot mega-store and tourism destination. Project will generate 500 construction jobs and 200 permanent jobs at the former New Haven Register building on Long Wharf Drive (New Haven)

Hamden Incubator Site cleanup completed in 2014 ($150,000)

Regional Progress


I-95 New Haven Harbor Crossing Corridor Improvement Program continued on schedule (Q-Bridge/Pearl Harbor Memorial Bridge)

Live Work Learn Play development project on former Coliseum site moving forward

EPA approved $350,000 in additional Brownfield Revolving Loan Funds for Circuit-Wise (North Haven)

Mt. Sinai Icahn School of Medicine opened a new location in Branford in October 2014 (genomic research)

Regional Progress


Northeast Gateway Industrial Park (165-acre site) is largest shovel-ready industrial park site in the Northeast (North Haven)

Quinnipiac University welcomed its first class to the Frank H. Netter MD School of Medicine in 2013.

The College Street Music Hall opened May 1, 2015 in the location of the former Palace Theater in the Entertainment District of Downtown New Haven

Winchester Lofts Project to restore an abandoned rifle factory through a $54 million historic rehab project with in 158 apartments was completed. (New Haven)

Regional Progress


Bioscience Career Ladder at SCSU

Coding Certification at Gateway Community College

The Haven (West Haven)

Guilford Commons

SCRCOG GIS project

Regional Progress


Woodbridge is one of 46 Connecticut municipalities to join a Request for Proposals seeking proposals from telecommunications companies to increase access to ultra-high-speed gigabit networks throughout Connecticut.

Relocated P2 Science from New Haven to Woodbridge with 5 employees. These types of opportunities exist as there is extremely limited commercial space in New Haven.

Town of Woodbridge 2015 Plan of Conservation and Development is closely aligned with the goals and objectives of the CEDS.

Woodbridge


Snapshot of Woodbridge & South Central RegionWoodbridge

June 2012WoodbridgeAugust 2014

RegionJune 2012

RegionAugust 2014

Population 8,990 8,955 570,001 570,610Households 3,336 3,364 222,620 220,128Per Capita Income $64,015 $69,179 $32,849 $33,632

Household Income $122,483 $137,216 $64,653 $65,554

Median Age 47.6 49 39.0 39.1Source: US Census Bureau


Effects of Regionalization


Complete the South Central Connecticut 2015 Comprehensive Economic Development Strategy Annual Update

Review goals and objectives

Adjust goals and objectives as needed

Continue to promote the importance of regionalism to all of the municipalities in the region

Continue and expand our outreach to businesses/industries that complement our communities

Next Steps


We sincerely appreciate your ongoing interest in regional economic development.

Please contact us at any time with questions, suggestions or concerns that you may have.

Thank you!

Thank You!

Economy & Finance

Woodbridge, CT Regional Economic Development Update