Economic News

Cromwell Commons

Cromwell is a Connecticut River community of nearly 13,000 people, located just north of Middletown. During the past ten years, its residential population has jumped over 12%. A high quality of life, along with a strategic central location and the best highway access in the state have combined to make Cromwell a popular residential community.
     Understanding the need for balance, community leaders have focused on the development of its industrial and commercial interests as a top priority.

Articles:

Cromwell: We're Going Places... And You're Invited!

by Craig Stevenson

For the past several years, the town of Cromwell, Connecticut has been working towards developing a 90-acre tract of land as an industrial park. Strategically located between Connecticut Route 3 and I-91, just south of the Rocky Hill town-line, the site is buffered well from residential neighborhoods, with great highway access and utilities within a few hundred feet. Town officials were convinced this was the place to begin a major industrial expansion. Recent progress on this project is rapidly turning the Town’s vision into a reality.

In 2002, the State of Connecticut awarded the town a $445,000 grant to study the site and conduct pre-planning activities. Is there a market for industrial land in this region? Should the town act as developer of the property? These were among the first questions to be answered. Using state funds, AMS Advisory Services, LLC was hired to lead a team of consultants that included: the TPA Design Group, OR&L Appraisals & Valuation and CERC (Connecticut Economic Resource Center, Inc.) to answer these questions and determine marketability. The analysis showed that this was the most promising site examined by the veteran team of experts in more than twenty years.

Data showed that the business cycle in the region was heading up and that national, regional and local developers were hungry for land. National and local trends strongly support business park development for a widening array of uses including light industrial, office/flex, service, distribution and warehousing. Low interest rates are fueling the demand for 10,000 to 75,000 square foot buildings and industrial lots consisting of less than five acres of land.

With demand being demonstrated as high the next step was to look at supply. The available supply of fully serviced, subdivided business park lots is at a historic low point in the region and there are currently no such lots available in Cromwell. Further, much of the remaining supply through out the region is not ready to build or even subdivide. Throughout the region AMS and its team could only find 40 lots.

The factors of supply and demand were right on the money. Add these factors to the well-suited location and deep skilled, relatively inexpensive labor market and things really begin to take shape. Cromwell’s zoning is favorable to maximizing usable land for building. And given the level and dry character of the land, the project meets the definition of “hot prospect”.

No one should be surprised that a local developer, Delta Building Corp. has already approached the town about developing the first thirteen acres of the site. Eager to partner with the private sector, the Town immediately appropriated funds to bring sewer lines the few hundred feet to the parcel’s boundary and assist with road improvements. The result has been astounding. The land sale is not yet complete and the official subdivision process only just begun, yet the all six lots in the proposed subdivision are spoken for.

There are over 60 acres of land remaining in the site. Landowners have expressed sincere interest in cooperating with development and the Town is eager to facilitate private sector efforts to do so. In Cromwell we are fond of saying, “we’re going places…and you’re invited”, and a more true statement has never been uttered.

A graphic of the ad run in the New England Real Estate Journal:

Annual Report of Economic Development Activities, 2002/2003

To: Board of Selectmen

Through the joint efforts of the Board of Selectmen, Board of Finance, Economic Development Commission, Planning and Zoning Commission and the town staff, Cromwell has had made significant progress in key economic development areas. One, obtaining and implementing a Small Town Economic Assistance (STEAP) grant to begin pre-planning on an industrial park. Two, to fill specific vacancies in existing industrial/commercial locations. Third, to promote the development of a riverfront parcel owned by the town. Fourth, seeking out targeted promotional opportunities for the town and its businesses. Last, but certainly of significant importance, we have established key elements in the planning for future grand list growth.

Cromwell Industrial Park/STEAP Grant

Despite current state budgetary difficulties, the primary task at hand was successfully achieved. Working with town staff and the Economic Development Commission we were able to secure a $445,000 state grant to begin work on a 90-acre industrial park. We are now well on the road in planning for this industrial park development. Upon the grant's award we set out to recruit and select a firm to conduct a marketability study, which will be completed by the beginning of October.

Business Retention/Recruitment

Filling vacant properties was obviously an equally high priority. Understanding that 80% of future growth comes from existing businesses, we immediately implemented a business visitation and needs assessment program (as of this date more than 30 Cromwell businesses have been visited). To more aggressively stimulate activity, we also worked to create a business incentive program that includes regulatory fee waivers and tax abatements. We also worked to develop a method for presenting requests for incentives to the Board of Selectmen in an objective and quantifiable manner. Our efforts resulted in the filling of the last five vacancies on Progress Drive, the major expansion of two existing businesses and the recruitment of a major aerospace component manufacturer.

Encouraging Riverfront Development

Closest to the EDC's heart was the prospect of developing the Town's riverfront property. We took a strategic approach to this task. Working together as a group, we developed a comprehensive request for qualified developers. To ensure a good response we marketed the RFQ to a targeted audience. The property was featured on CERC's SiteFinder as property of the month, paid advertisements appeared in regional real estate journals and press releases were circulated to all the business and real estate periodicals in the northeast. Three high quality developers came forward and two were short-listed for the next phase of the selection process. Both projects represent development projects that would add between 25 and 35 million dollars to the local grand list and provide significant economic stimulus. Now the EDC will work with the Board of Selectmen to develop a request for proposal that will identify the specific requirements of this project.

Community Promotion

The single greatest promotional opportunity for the town and its businesses is the Greater Hartford Open. Each year hundreds of thousands of people visit the town to attend this national sporting event. The EDC worked with GHO officials to develop a program that allowed the Town and its businesses to market to these visitors that attend the tournament. The program is comprised of several facets from which businesses can benefit.

To enhance the opportunities made possible through our new partnership with the tournament, the EDC arranged for Greater Hartford Magazine, an eight-year-old publication serving the region with a focus on special events and event facilities, to produce a Welcome Guide to be distributed at the GHO and other events such as the Riverport Festival and the Middlesex Chamber of Commerce Business Expo. This four-color promotional guide contains a map directing visitors to our commercial areas and advertisements from local businesses. It is attached to this report.

In addition to the advertising opportunities available through the Welcome Guide, the town and its businesses may now make use of a new web page devoted exclusively to economic development and community business promotion. Mycromwell.com will be directly connected to the town's web page and be promoted through a targeted mailer. Like the Welcome Guide the web site will feature information promoting our local businesses and the Town itself.

Planning For The Future

The EDC is continuing to work with the Planning and Zoning Commission to develop a process that will update our Plan of Conservation and Development. This process needs to ensure the development of a plan that accurately reflects the community's vision for the future provides a clear implementation strategy and maximizes the use of existing town resources.

Further, the EDC has worked on two proposed zoning regulation amendments to promote high quality economic growth. The first involves the creation of a neighborhood businesses district for central Main Street. Such a change will provide for high quality mixed uses there. Second, acting on input from existing businesses the EDC seeks to encourage the development of destination oriented retail and entertainment along Route 372. Because commercial land is not limitless we are recommending a special permitting process to allow special oversight of the largest retail development.

In Closing

We are proud of the work we have done during the past twelve months. The arrangement of an economic development consultant working along side town staff and the Economic Development Commission is working very well and has resulted in measurable success. This Success is the result of partnership and cooperation among various Cromwell boards and commissions. No success could have been achieved without first the leadership and support of the Boards of Selectmen and Finance.

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FOOD - FUN - FIREWORKS
Will Mark Riverport Festival

Thanks to the hard work of both seasoned and newly recruited volunteers, the 8th Annual Cromwell Riverport Festival will take place on September 20th beginning at 9 a.m. The festival takes place in the historic downtown Cromwell.
      "People have really come to the table to make this event happen", says Allan Spotts the event chairman. "The entertainers are donating their time and many new volunteers have come forward and everyone is really doing their part."
      The event will feature entertainment from local bands, beginning at 10:30 a.m. with the Cromwell Grenadiers Fife and Drum. The Cromwell Middle School band will follow the Grenadiers at 11 a.m. The eclectic assortment includes a pleasurable note for every musical taste including the band Holy Fire, the Beatle's cover group - The Tax Men, 70's music by Players Club and Sleeping with the Fishes a band comprised of Cromwell High students will bring the evening home with sounds of today's popular music. Dancing will follow the live music until the festival concludes at 10 p.m. Also exhibiting their talents will be dancers from Dancers Image and the students and teachers from Cromwell Martial Arts.
      Other key features of the Festival include a road race that begins at 9 a.m. Runners can obtain registration materials on-line at mycromwell.com or by contacting [ ]. The day's activities will also include an antique auto show, organized games for children and the Connecticut Freemasons will present CHIP a child identification program. A fireworks display will light the sky in the final hour of the festival.
      Festival goes should bring their appetites. Local culinary legend Carm Sarentino will be offering his Chicken Marsala and famous steak sandwiches. Stop & Shop, a sponsor of the festival, is providing refrigeration for all the food vendors and will staff a food court in conjunction with Dunkin Donuts. Proceeds from the food court will benefit the Juvenile Diabetes Association. With a menu that includes Freedom Fries, Kispy Kreme doughnuts , pizza, ice cream and more, no one will go home hungry.
      More information about the festival, including volunteer opportunities can be obtained by calling Allan Spotts at 635-4753 or visiting mycromwell.com.

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SPOTTS SEEKS TO SAVE RIVERPORT FESTIVAL
(first published May 21, 2003)

Allan Spotts, the newest member of Cromwell's Economic Development Commission (EDC), has scheduled a meeting to try and preserve Cromwell's Riverport Festival. The meeting will be held on Wednesday, May 28th at 7:00 p.m. in the Community Room of the Cromwell Police Station, 5 West Street. Spotts has volunteered his leadership to help save the annual event.
    Funding for the festival was not allocated in this year's town budget due to a lack of community interest. The Board of Selectmen has pledged to add back the funding if a grassroots effort comes forward with a plan to run the event. Spotts has been recruiting residents and business leaders to form such a group and ensure the annual festival goes on.
    "This is an important community tradition, as we seek to revitalize or riverfront and downtown, it is more important than ever that we help our residents connect to Cromwell's greatest natural resource", says Spotts.
    The EDC voted at its last meeting to support Spotts efforts. The Festival is one component of the EDC's plan to reinvigorate the downtown area. A request for qualified developers for the Town's riverfront property at the southern most point of River Road has been aggressively advertised and proposals are due June 15, 2003.
    "Keeping the Riverport Festival alive will ensure our continued focus and energy in the downtown and riverfront area" says EDC Chair Dick Nobile. "Right now we have generated momentum and interest, I am glad Al is willing to help keep us moving forward."
    The Riverport Festival has been community tradition for the past several years. Featuring an auto show, games, amusements, a parade and culminating with a fireworks display, the festival seeks to draw people to the riverfront and the adjacent downtown area and its businesses.
    Those interested in volunteering or learning about how they can help save the festival should attend the meeting on the 28th or contact Allan Spotts at 635-4753.

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CROMWELL SEEKS DEVELOPER FOR RIVERFRONT
(first published April 10, 2003)

First Selectman Stanley Terry and the Economic Development Commission are looking for a developer who can help the town turn its riverfront property into an eye-catching gateway into downtown. The 32-acre site being offered is comprised of several parcels acquired by the town through the years. The Cromwell Outboard Association currently leases one parcel and another was once proposed to be the site of a high quality banquet facility. The request asks that developers' plans accommodate the Association and promote increased public use/access.
    "The key to redeveloping downtown is linking it with the river" says Terry. "We are looking for a developer that can partner with the town to help us leverage this fantastic resource."
    Through the Economic Development Commission the town is seeking, via a completive process, a qualified pool of developers and conceptual plans. Interested parties must submit their qualifications and concept plans to the Commission by Tuesday, June 3, 2003. Aiding the selection process will be a vigorous campaign to promote the opportunity. The Commission's marketing plan includes advertising in the New England Real Estate Journal, featuring the riverfront parcel on the State's multiple listing service for commercial real estate (SiteFinder) and a direct mailing to key developers.
    "We are seeking to cast a wide a net as possible" states Dick Nobile, Chair of the Economic Development Commission. "The idea is to generate interest and excitement about the potential of our riverfront, we are hoping for a new and innovative approach. We are keeping and open mind."
    The riverfront initiative is the latest in a series of strategic efforts being put forward by the Economic Development Commission. Those tactics include the contracting with Craig Stevenson, an economic development professional to oversee the Town's business retention and recruitment program and the implementation of an economic development grant to conduct pre-planning for an industrial park on Shunpike Road.
    Parties interested in viewing the Request for Qualified Developers or its supporting documents should visit the Town's website at www.cromwellct.com.

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MULTI-MILLION DOLLAR INVESTMENT & UP TO 200 JOBS COMING TO CROMWELL
(first publishedJanuary 17, 2003)

Cromwell Economic Development Commission Chair, Richard Nobile, announced today that First Selectman Stanley Terry has negotiated an incentive package that will bring over 3.1 million dollars in investment and up to 200 high paying manufacturing jobs to Cromwell. The company, GKN Aerospace Services Structures Corporation, will make a multi-million dollar investment in real and personal property that will sharply increase tax revenue generated by the property at 1000 Corporate Row. The jump will amount to a 75% gain, approaching $104,000 annually. The property has been vacant for several years and has been generating less than $25,000 a year in tax revenues. Working with the Department of Economic and Community Development and the Town's economic development coordinator, Terry has offered a local incentive package valued at approximately $62,000. The amount includes a $54,000 property tax abatement and a proposal to waive more than $8,000 in municipal permitting fees. The Economic Development Commission has recommended approval of the incentive package to the Board of Selectmen who must authorize both the abatement and fee waiver. The incentives will be spread out over at least two years.
    "The location of GKN in Cromwell is due in no small part to the great cooperation among the EDC, the Board of Selectmen and the Board of Finance in our joint efforts to make economic development a priority for the Town of Cromwell and to provide funding for an economic development coordinator," said Terry.
    GKN is an international high technology manufacturing firm. Over the next ten years, they plan to invest over 3 million dollars in Cromwell and create up to 200 jobs as the aerospace industry recovers. Initially, the products manufactured by GKN will be high quality composites that are key components of jet engines. Composites are a relatively new innovation combining the plastics and textiles industries to produce extremely lightweight and durable components for the aerospace and auto industries. Cromwell will be home to this emerging and rapidly growing industry.
    "This represents more than just the creation of tax revenue", says Nobile, "the locating of this company represents an opportunity to develop a new industry in Cromwell that will create a ripple-effect in the local economy."
    According to Nobile, the location of GKN along with the recent award of a half million dollar state grant for the development of an industrial park on Shunpike Road are the first steps in a coordinated effort among the Economic Development Commission, Board of Selectmen and Board of Finance to add high quality business development to the town's tax base while maintaining the character of the community.
    In addition to the local incentives, the State of Connecticut through the Department of Economic and Community Development and Connecticut Development Authority is providing the company with a one million dollar low interest loan. The Middlesex Chamber of Commerce will assist the firm with a $2,000 per job on-the-job training grant.
    "Cromwell is now in an excellent position to help make our county a leader in this industry" said Middlesex County Chamber President Larry McHugh, "the economic impact will be significant for the entire region."
    Assisting in the local efforts led by First Selectman Terry, Economic Development Coordinator Craig Stevenson, worked closely with the company and state officials to bring GKN to Town. The effort to recruit GKN was guided at the state level by the Department of Economic and Community Development's International Division and included representatives of Northeast Utilities. Cromwell was selected over several sites including one in the State of Alabama where another GKN subsidiary is located.
    "This was a team effort where everyone did their part" said Terry. "The location of GKN in Cromwell shows without a doubt that our town is ready, willing and able to work with the private sector to build our business base."

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CROMWELL IS GOING PLACES
By Craig Stevenson

Cromwell, Connecticut is a riverfront community of nearly 13,000. Just north of Middletown, Cromwell is, perhaps, best known for hosting the annual Greater Hartford Open. During the last decade, a high quality of life has helped the residential population grow by more than 12%. Businesses find Cromwell a strategic location. Centrally located with direct access Interstate 91 and Connecticut Route 9, firms find it an ideal location to service territories consisting the New England states and the New York metro area. Cromwell is proud that many well known companies make their home here, including Siemens, Muzak and Apria Healthcare to name just a few. To ensure continuing high quality, Cromwell's town leaders have implemented policies that make economic development and the increased growth of the Town's commercial/industrial base a top priority.
    Drawing upon its greatest natural resource, the Connecticut River, the Town has asked for proposals to develop 32 acres of municipally owned riverfront land. The goal is to find a private sector partner who has the resources to develop the site into an attractive gateway project and capture the advantage and market potential of the area. Hopes are that an ancillary benefit will be to increase the viability of the adjacent downtown area. The Town is using its web site, www.cromwellct.com, to promote this opportunity in addition to a direct mail campaign, advertising on SiteFinder™, Connecticut's commercial real estate web site, and tactical print advertising.
    Much of Cromwell's industrial land is yet to be sub-divided and developed. In the fall of 2002, Cromwell was awarded a $450,000 State grant to conduct pre-planning of a 90-acre industrial park on Shunpike Road in the northern section of town. Development of the park would alleviate a shortage of shovel ready lots. The response of potential end-users to proposal has extremely positive and interest in the park is high. The development of the industrial park will be a first step in the development of several hundred industrially zoned acres along the shared border with Rocky Hill.
    Understanding that most growth comes from existing businesses, the Town is also conducting a comprehensive business retention program. Regular business visitations have been scheduled to learn more about the existing business base, individual plans for the future and ways the Town can be a partner in future growth. The program is generating results, a recent visitation to RWK Tool Inc. helped to facilitate that company's expansion.
    Targeted efforts to fill vacant properties with new businesses have also been successful. GKN Aerospace Services Structures Corporation, a subsidiary of the international British company GKN Aerospace, has newly located in Cromwell. This composites manufacturer has made nearly $2 million in improvements customizing an existing building to fit its needs and expecting to grow to a workforce of more than 250 within ten years. Aggressive local incentives, in partnership with the State's, allowed Cromwell to beat out competing locations in Alabama and the Chicago metro area.
    Cromwell's economic development efforts are promoting growth in the existing business base, utilizing a prime natural resource to revitalize downtown and developing its inventory of industrial land. Just as Cromwell's businesses travel throughout the Northeast selling their products and services, the Town of Cromwell is going places.

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