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Dale Kroop, Director
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State Funds $350,000 Brownfield Grant For The Hamden Business Incubator

9/1/2014

  State Funds $350,000 Brownfield Grant for the Hamden Business Incubator

The Hamden Economic Development Corporation (HEDC) received good news regarding funding for the continued environmental work required at the site of the future Hamden Business Incubator. The Connecticut Department of Economic and Community Development awarded $350,000 to HEDC as part of the round of funding announced by Governor Malloy this week. The State awarded $27 million dollars to 20 projects statewide. The original requests totaled $75 million.

“Many of Connecticut’s brownfield sites have been abandoned or under-utilized for decades because the costs of redeveloping these properties are too expensive for municipalities or private developers to take on by themselves,” said Governor Malloy “That’s why my administration has not only allocated the funding necessary to return dozens of unused and blighted properties in every corner of the state to productive reuse, but also taken significant steps to attract private investment and increase participation in our brownfield programs.”  

Since FY 2012, the Malloy administration invested $62.6 million in 37 projects to remediate contaminated sites in 27 cities and towns statewide. These investments have funded completed or ongoing remediation and redevelopment of 608 acres, and have generated significant additional leverage. For every dollar invested by the State, $3.43 has been or will be invested by non-State partners.

“We are very appreciative of this funding award and thank Governor Malloy and Commissioner Smith for their continued support. They understand how to find the right balance of meeting economic development needs while preserving community assets. The support of the State as well as that from Mayor Jackson and Representative Brendan Sharkey has been a great thing for the future economic growth of Hamden”, stated Dale Kroop, Executive Director of HEDC.    

The funding will be used to complete the removal of asbestos in the upper floors in the building and for the removal of an oil tank remaining from the original building. The $350,000 in funding is part of an overall $8 Million project by the Hamden Economic Development Corporation to provide affordable space with common amenities to entrepreneurs and small businesses. This project will create jobs, tax revenue and expand the overall economy by supporting the growth of small businesses.

Construction will commence this fall and should be completed in the summer of 2015.

For more information about the Hamden Business Incubator or the Hamden Economic Development Corporation, please contact Dale Kroop at 203-287-7033, dkroop@hamden.com or go to

 

The web page for HEDC at http://www.hamdeneconomicdevelopment.org/


8/25/2014
Hamden Business Incubator Moves Into Next Phase of Construction
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9/14/2014
Zero Energy House Funding Approved: HEDC Partners with Connecticut Housing Investment Fund & Connecticut Light & Power Company
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