News: Connecticut

Rocky Hill, CT - Family focused with a corporate presence accommodating growth - by Raymond Carpentino

Raymond Carpentino,
Rocky Hill EDC

Rocky Hill is a suburban community of 21,000 residents located in central Connecticut two hours from both Boston and New York City. Access is provided directly from I-91, while Bradley International Airport is a twenty minute drive. Our location within Connecticut and within New England, places Rocky Hill businesses within 500 miles to 1/3 of the U.S. economy and 2/3 of the Canadian economy.  

Rocky Hill is home to 1,300 business establishments employing over 17,400 people. Our substantial employment base consists of diverse industries and service establishments such as Henkel North America, Arburg, SYSCO, URS Corporation, Burris Refrigerated Logistics, AECOM, Simoniz USA, PDQ Inc., The Meredith Corporation, McKesson, Paychex, Regus, Walmart and Sheraton, among many others. All of our businesses are located within our six business parks and two commercial corridors. 

Our business footprint consists of 2.5 million s/f of industrial space, 1.8 million s/f of retail/service space and 2 million s/f of office space. A market analysis projected an additional 1.8 million s/f of new development is possible by the year 2030. It is anticipated 2017 will realize the completion of approximately 252,000 s/f of commercial construction. 

Town leaders and citizens are quietly balancing development demands. Projects like Town Center West, a 70,000 s/f mixed-use retail project with 144 apartments, the development of River’s Edge, a residential mixed-use brownfield project located along the CT River, a 55,000 s/f expansion of Simoniz USA, construction of a new Hampton Inn and Suites, the construction of a 52,000 s/f surgery center and over 39 new businesses during the last two years, are balanced with single family development, town center revitalization and passage of a $10 million bond referendum for farmland and open space preservation. 

Most of our success can be attributed to three basic factors: Our central location both in Connecticut and the Northeast region; our direct access to Exits 23 and 24 off of I-91; and our responsive government. Through prudent management, our administration has been able to retain a low tax rate attractive to business and focus our commitment on retaining and attracting business, while maintaining our exemplary education system. 

Rocky Hill is a wonderful place to grow a family and a business. From corporate office parks to vibrant neighborhoods, Rocky Hill continues to accommodate growth without sacrificing our small town atmosphere. Businesses seeking a central New England Location, with a major corporate footprint and a highly educated workforce should contact me at carpentino@rockyhillct.gov 

Rocky Hill, CT, “Cultivating long-term economic growth by fostering a clear & business-positive environment that encourages a growing, sustainable & diverse tax base.

Raymond Carpentino is economic development director for the Town of Rocky Hill.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Quick Hits
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary