ECONOMIC DEVELOPMENT

Many positive developments continue to take place in Waterbury these days as we advance our economic development strategy with public and private investments that are producing solid returns. This is evidenced by many new businesses coming to Waterbury, creating hundreds of new jobs.

The years 2014, 2015 and 2016, so far, have seen the establishment of more than 40 new businesses and 1,375 new jobs through the direct involvement of our Economic Development Team. More than a dozen existing companies expanded, creating an additional 100 jobs, and we already have several new companies accounting for 800 jobs that have committed with letters of intent for 2016.

That’s nearly 2,200 new jobs. And there’s more.

waterbury why be here

MacDermid Performance Solutions, a subsidiary of Platform Specialty Products Corporation, announced this spring the creation of 80 new jobs at its Waterbury headquarters on Freight Street. These positions include accountants, clericals, human resources, researchers, engineers and executives with salaries ranging from $50,000 to $250,000. This comes on top of 40 jobs MacDermid added to its Waterbury operation in the past year in Waterbury

Luvata, an anchor of the Waterbury Industrial Commons and the world’s largest manufacturer of superconductive wires used in medical-diagnostic systems, recently added 40 new as part of an expansion of its massive Waterbury plant.

And there’s more.

Waterbury, a city of wonderful pizzerias, will add one of the most famous pizza places in the world to its stable of great restaurants when Pepe’s Pizza of New Haven opens this year off Reidville Drive in the East End of town.

Plans are also moving forward to bring Car Max, pre-owned car retail giant, to Progress Lane, in an enterprise that will create 160 jobs.

And Waterbury in 2016 will become home to the Northeast’s largest indoor fish farm when Great American Aquaculture opens a plant on Avenue of the Industries, where they will produce and harvest European Sea Bass. This will allow area residents to get the freshest possible version of one of the world’s most popular seafood.

Why are these companies choosing Waterbury?

Our City is strategically located at the junction of Interstate 84 and Route 8. We are just two hours from Boston, 90 minutes from New York City and a 30-minute commute to Hartford, Bridgeport, New Haven and Danbury. We have a skilled workforce that combines an old-fashioned New England work ethic with state-of-the-art training in the latest technology.

Among our new businesses are a good cross mix of manufacturing, retail, restaurant and professional enterprises, allowing for continued expansion and diversification within the City’s employment base. The retail sales strength of our City starts with a population that exceeds 110,000 and continues with the strong demographics of affluent neighboring communities that depend on our retail base for goods and services.

And the ongoing project to widen Interstate 84 through Waterbury will continue to bring more visitors to our city.

One Waterbury success story is the Texas Roadhouse, a restaurant that opened last year on Reidville Drive. The typical wait for a table on a weekend night can be 45 minutes or longer because of this family establishment’s growing popularity. The Texas Roadhouse in Waterbury has fast become one of the top-performing stores in a nationwide chain of more than 400 restaurants.

Another Waterbury highlight is the commitment from King Industries Inc., of Norwalk, Conn., to construct a state-of-the-art manufacturing complex that will provide an estimated 60 jobs and, upon completion, even more full-time manufacturing jobs. King Industries broke ground this past September on 10 acres of a Brownfield industrial-use property the City acquired, remediated and sold to them at an extremely competitive price. King Industries is currently constructing an 80,000-square-foot industrial manufacturing complex – an investment of more than $50 million in Waterbury.

Waterbury remains the state’s leader in Brownfields identification and redevelopment. In fact, the U.S. Environmental Protection Agency in May 2016 honored Mayor Neil M. O’Leary for his work in Brownfield redevelopment and community revitalization in Connecticut’s fifth-largest city. Mayor O’Leary was among several winner recognized at the EPA’s 2016 New England Environmental Awards in Boston. The agency honored O’Leary with its Individual Award for his work in cleaning many of Waterbury’s Brownfields, remnants of the city’s industrial past, and turning them back into usable, taxable property.

Waterbury was the recipient of the historic TIGER Grant and we continue to make progress on this plan. This $19 million project is a game-changer for our City in so many ways. With plans already underway to improve the Waterbury rail branch, this project will enhance mass transit in our City while highlighting the beauty and viability of our Downtown. The TIGER Grant and the rollout of Waterbury NEXT will transform our City. Waterbury NEXT represents an almost $20 Million public-private investment in revitalizing our downtown, which has drawn the interest of several outside investors. These projects are part of Governor Dannel Malloy’s overall commitment to investing in housing, jobs and economic development to revitalize cities and downtowns across the state.

 

The bottom line, as Mayor O’Leary often says, is that “Waterbury is open for business.”

Additional Information:

Contact Information

Joseph R. McGrath

Office of the Mayor
City Hall Building
235 Grand Street, 2nd floor
Waterbury, CT 06702            
Phone:  (203) 574-6712
Fax: (203) 574-6804