Office of Economic Development

June 2009

BUSINESS NEWS

The Office of Economic Development welcomes your to our monthly update on economic activity in the Town of Stratford.

·        Commercial, industrial, retail and office permits for the month of May totaled $268,500.  The total for the first five months of the year reached  $3,918,743

·        In the month of May the residential single family home market had 38 units reported sold by the Greater Fairfield County Consolidated Listing Service. The average selling price of a single-family home during the period was $247,038 and average listing price of $261,658. The exposure of the listings on the market averaged 96 days.*

·        The Mayor, in conjunction with the Office of Economic Development, announced the development of a working relationship with the Community Economic Development Fund out of Meriden, Connecticut. The Fund assists small businesses and aids in the strengthening local economies. The Fund offers alternative flexible financing and technical support to existing and new start up entities.

·        To answer the many inquiries concerning the status of the Stratford Army Engine Plant, the Town of Stratford does not own the land or the facilities at the site. The Federal Government’s Department of the Army owns the property. They are the sellers of the plant to a selected developer of Hollywood East Area 51. It is a typical real estate transaction between the buyer and the seller. The Town of Stratford is not part of the transaction. The Mayor has continually monitored the negotiations and urged for a closure to the process.

The Office of Economic Development compiles the information contained in the Business News.

Bruce Alessie, Special Projects Coordinator

*Source: Greater Fairfield County Consolidated Listing Service