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HEDC in the News

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Update on Canal Crossing Winter of 2018 

Wednesday, February 14, 2018
As we move in the second month of 2018, Canal Crossing, the 393 unit apartment development on Mather Street has progressed as planned. The third building, the last of Phase One, will be completed in the spring of 2018. The 165 unit first phase includes the clubhouse and the pool for the entire complex. The final completion date for the entire project is 2019.
Of the 114 units open in the first two buildings, 88% of the market rate units are rented. Several of the units designated under the Affordable Housing Program are available in efficiencies and one or two bedrooms. Units under the Affordable Housing Program are typically around 30% less expensive than the market rate units.

Foster Engineering Opens in Hamden 

Friday, February 2, 2018
Foster Engineering, LLC is a new energy, heating, ventilation, air conditioning, and reliability consulting services company for small to large commercial businesses, in addition to local and state municipalities primarily. Founded in Hamden, CT in September 2017, Foster Engineering, LLC seeks to provide needed energy engineering consulting services to new and existing facilities guiding businesses and towns to make practical steps towards energy sustainability with both renewable and non-renewable energy sources through design for energy efficiency and efficiency optimization of existing facilities.

The Changing Face of the Economy and How It Affects Hamden 

Tuesday, January 23, 2018
Technology has forever changed the local, state and national economy. It affects retail trade, services that we buy and products that we have come to know.

The landscape of retail continues to change. The list keeps getting longer for stores that are closing in the northeast and across the country. According to MoneyMagazine.com and many other publications, it is anticipated that over 25% of all shopping malls in the United States will likely CLOSE by the year 2022. This change in the retail marketplace began slowly and then accelerated quickly with the growth of the on-line marketplace. The last few years have been dominated by Amazon, who has changed the retail marketplace because of innovations such as Amazon Prime.

It Was a Busy 2017 in Economic Development in Hamden! 

Wednesday, January 3, 2018
It’s time to look back on what we have accomplished over the last year. We often go through the holidays thinking about what we are doing after the New Year’s celebration. So let’s look at what actually happened in 2017 and what is in the pipeline for 2018. The Hamden economy is affected by the state and national economy. Given those influences, we have been fortunate to have not lost any significant amount of businesses or jobs in 2017. I believe that this is based on the diversity of our businesses and our efforts to retain them under our Business Cluster Program. Hamden’s unemployment rate is always roughly a half percent lower than the region as a whole, but workforce development remains the most important issue for employers. The unemployment rate keeps getting lower, creating new challenges in meeting employer’s needs.

It's National Write a Business Plan Month 

Tuesday, December 19, 2017
Its National Write a Business Plan Month by the SBA. See the link below. Did you know that Hamden has a Business Assistance Center that coaches you on how to write your business plan. Go to http://hamden-ct.com/Content/Buiness_Assistance_Center.asp for more information. https://www.sba.gov/…/pl…/write-your-business-plan-template…

Hamden Economic Development Commission Begins Planning for 2018 

Tuesday, December 19, 2017
As 2017 comes to a close, the Hamden Economic Development Commission will soon begin discussions on a new plan for Economic Development for when the current plan runs out on June 30th, 2018. The current plan can be found on the department’s web page at www.hamden-ct.com. Since 1998, there has continuously been a 2-3 year economic development plan offering incentives for business retention and attraction, while expanding technical assistance programs. The programs and services have assured a strong program for business attraction and business retention. The plan is amended and reapproved at each expiration date by the Economic Development Commission and the Town Legislative Council.

Hamden Auto Body Celebrates Expansion 

Wednesday, December 13, 2017
Hamden Auto Body a family owned business on Dixwell Avenue for 25 years recently expanded. Hamden Auto Body invested over $700,000 in interior and exterior improvements. Hamden Auto Body received business incentives from the Town of Hamden through the Business Incentive Program.

Hamden Auto Body performs all aspects of collision repair on all makes and models including framework, mechanical, electrical, body and refinish. Hamden Auto body will handle your insurance claim from A to Z, from calling in your claim to arranging final payment. Hamden Auto Body's staff is committed to making your collission repair experience as smooth and painless as possible including on-site rentals with Enterprise Rent-A-Car.

Job Readiness of Students in Today's Competitive World 

Wednesday, November 29, 2017
As the economy evolves, the Town of Hamden must prepare its young people for a job market that offers many opportunities. Students and parents should have the knowledge of and have access to post High School opportunities for all forms of training including from a four year college or other vocational training. “The most important issue facing business today is a well prepared, qualified workforce. The key industries in Hamden and in the region provide jobs in health care, construction, home repairs, light manufacturing and technology. These jobs require not only skills provided through a strong public education system, but also skills that can be learned outside of a four year college. We want to share opportunities about the local and regional economy and how that translates to making a livable wage.” stated Dale Kroop, Director of Economic Development and Neighborhood Revitalization. The idea for this collaboration grew out of Mr. Kroops' participation as Co-Chair of the Workforce and Housing subcommittee for the (regional) Comprehensive Economic Development Strategy (CEDS). It is very important to the Town’s future to retain our talented young people. They will be the business leaders of tomorrow and will be part of the civic infrastructure of the Town of Hamden and the greater New Haven region. “Hamden’s youth are the core of our future as a town. It is our responsibility as municipal and community leaders to ensure that the path to a successful career is available for every child, teen, and young adult in our communities. This program will connect our youth directly to our local businesses and tradesmen, providing valuable life lessons and opportunities to our students. I commend Mr. Kroop and the BOE on their efforts to begin this program, and I look forward to the many benefits it will bring in the months and years ahead.”

Calling All Highwood and East-Side Residents! 

Thursday, November 2, 2017
Mayor Curt Balzano Leng is asking residents of the Highwood and State Street communities to get involved in their neighborhood once again. “I am reaching out to the residents of the Highwood and State Street neighborhoods in an effort to create a new Neighborhood Revitalization Zone committee, or NRZ for short. Historically, NRZs in CT have helped to shape and improve communities with a diversity of needs. I believe that we have great potential to continue the good work we have been doing here in Hamden by forming a new NRZ committee in both the Highwood and State Street communities. These neighborhood groups sincerely make a difference, and I encourage any interested residents to participate.”

Hamden Real Estate Market Continues to be Strong 

Friday, October 13, 2017
Press/Cuozzo Commercial Services is pleased to announce that Stephen Press, SIOR, co-principal of Press/Cuozzo Commercial Services, represented Town Hall Center LLC on the sale of a two building mixed use portfolio located at 2340-2348 Whitney Avenue. A Private investor acquired the portfolio for $3,150,000. Totaling 23,320 S.F, the properties were 100% occupied with a mix of retail and office tenants.

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