Economic Development
Progress Report July 31, 2007
Objective
Our Mission
"promote economic growth and
development and expansion of the tax
base while maintaining and improving
the quality of life consistent with the
Town of Oxford Plan of Conservation
and Development."
2
Long Term Goals
Support implementation of Oxford's Plan of
Conservation & Development
Facilitate planned development of industrial
and commercial properties while protecting
Oxford's rural character
Provide financial support to the Town by
increasing the industrial and commercial
grand list and tax revenues
3
Strategies
Establish an inventory of flex-space buildings and
shovel ready industrial properties available for sale
or lease
Extend water, sewer, industrial power and natural
gas infrastructures
Complete roadway improvements in the industrial
area
Develop marketing & promotional programs that
present Oxford opportunities to the business and
development communities
Maximize use of grant funding from State, Federal
and private sources
4
Initiative Develop shovel ready
properties & flex-space building inventory
Complete subdivision of Town owned
properties
Sell non performing Town owned properties to
developers for commercial & industrial
development
Facilitate development of privately owned
tracts in the industrial and commercial zones
Encourage flex-space building development
Utilize Town and the Connecticut Economic
Resource Center (CERC) websites to
market Town opportunities
5
Initiative Extend industrial
infrastructure
Extend three phase power
Riggs Street to Christian Street (1 mile) Complete 3/07
Jacks Hill to Woodruff Hill Road (.8 miles) Complete 2/07
Build Oxford Distribution Substation Scheduled 12/08
Extend industrial roadways
Build Woodruff Hill Road (.5 miles) Complete 8/07
Build Commerce Drive (.3 miles) to Larkey RD by 1/08
Build Fox Hollow Road (.5 miles) by 10/07
Reclaim Christian St. - Rt 67 to Jacks Hill - Complete
New waterline to Woodruff Hill Industrial Park - 6/07
Extend sewer/water to West Street on Rt 67 12/07
6
Initiative - Created marketing &
promotional programs
Developed a new Marketing Campaign
Created "Oxford, The Right Choice" marketing campaign
Created new town brochure and sales & marketing materials
Developed business retention programs
Publish an Economic Development Newsletter
Conduct local business forums
Establish local business directory 12/07
Initiated a business outreach program
Utilize CERC website and listing services to advertise Oxford
development opportunities
Leverage Chambers of Commerce, developer and broker
relationships in support of Town marketing efforts
Maximize press coverage of Oxford economic development
efforts
7
Initiative Maximize use of grant
and private funding sources
Complete Connecticut
Environmental Policy
Act Study (CEPA) to
qualify Oxford for
State grant funding
Utilize federal, state
and private grant
funding to subsidize
enhancement and
extension of Town
infrastructure
8
Economic Development Scorecard
as of July 31 2007
Oxford Economic Development Scorecard
Summary of New Industrial & Commercial Floorspace January 2004 - July 31, 2007
Number
Square
Buildings Square Feet
Feet
Square Feet Total Square
Assessed Revenue @
New Buildings
Lots
Built
Approved
Planned
Feet
Value
.01937
Industrial Buildings Built by Owners
98,205
98,000
196,205
8,297,213
160,717
Industrial Flex Space Buildings (Spec)
106,400
81,100
24,000
211,500
9,849,498
190,785
Commercial Buildings
9,200
15,000
24,200
1,644,860
31,861
Total Industrial Development
27
213,805
96,100
122,000
431,905
19,791,572
383,363
Fox Hollow Industrial Park (9 Lots) *
9
210,000
210,000
9,694,942
187,791
Woodruff Hill Industrial Park (17 Lots)
17
500,000
500,000
23,083,194
447,121
Technology Park (10 Buildings)
10
720,000
720,000
58,610,351
1,135,283
Total Industrial Park Potential
36
1,430,000
1,430,000
91,388,487
1,770,195
* Total potential sf reduced by planned buildings on lots 2 &7
Total New Floorspace/Revenue
213,805 1,526,100
122,000
1,861,905 111,180,059
2,153,558
Revenue Forecasts - High Value Projects
2007-2008
2008-2009
2009-2010
Annual
Spectra Energy - Oxford Compressor Station
500,000
500,000
500,000
CL&P Distribution Substation
284,000
284,000
284,000
Towantic Energy Tax Revenue
800,000
1,175,000
4,350,000
2,350,000
Towantic Water Lift Station
400,000
Towantic Community Development - Ladder Truck
900,000
Towantic Energy - Build Wycoff Drive
4,500,000
Total Tax Revenues by Fiscal Year - High Value Projects
6,600,000
1,959,000
5,134,000
3,134,000
Total New Tax Revenues Generated by Oxford Economic Development - 2009-2010 Ongoing
5,287,558
Historical Comparison
Installed Floorspace as of January, 2004
1,261,770
Potential Floorspace - July 31, 2007
Percentage Increase over 2004
248%
3,123,675
Building Floorspace - July 31 2007
Percentage Increase since 2004
34%
431,905
9
Partial list of new businesses
Elco Inc (10,000sf)
CED Inc. (30,000sf)
Supreme Alarm Screens
Scot Technologies
Lynch & Sons (36,000sf)
Nexus Design
A & B Wood Design (19,900sf)
Mirtec Inc
Collins Box (15,000sf)
FDR Special Products
Zackin Publishing (10,000sf)
Sterling Products
Weisachs Autohaus
DRG Contract Manufacturing
Oxford Automotive LLC
DRG Surgical
Polder Inc (72,000sf warehouse)
Magellan Service Corp
Woodbury Supply Co. (33,000sf)
Tools Plus (30,000sf)
Regin International
Kulinkowski LLC
Valley Orthopedic Specialists
Nick's Roofing & Siding
H.I. Stone (7,200sf)
Access Rehab Services
RxCare Pharmacy (5,000sf)
Executive Aircraft Interiors
Spectra Energy(.5 Million in taxes)
From Nature with Love (30,000sf)
10