Middlesex County Commercial Real Estate Investments

Community leaders in Cromwell, Connecticut have long focused on the development of its industrial and commercial interests as a priority. They know the importance of keeping the proper balance and perspective of job creation, commercial development in tune with modern residential community development thus maintaining the famous Cromwell lifestyle.

MetroHartford is known for its highly educated and skilled population, which creates a great available work force. The Cromwell area commercial and industrial complexes boast their worker productivity 6% above the national average. The cost of operating in MetroHartford area competes favorably with other major metropolitan areas. Based on needs and preference, office and commercial space is available to satisfy a diversity of needs & can easily be found throughout the region. Office lease rates and operating expenses are below the average rates found in cities such as Atlanta, Chicago, Baltimore, Boston and New York.

Recognizing the need for a prepared, available workforce, the Growth Council has been instrumental in developing demand driven training modules to support and help businesses grow. The public officials throughout the MetroHartford region have participated in the Growth Council's nationally recognized "Economic Development for Public Officials" education program to increase their knowledge of the business development process. They understand the importance of working with business needs and are ready to facilitate relocation or expansion efforts.

Lets look at another important factor in modern commercial and industrial development; taxes. Sales tax here is 6%. The State Corporate Income Tax rate is 7.5%. Connecticut has no state property tax. Each municipality assesses property at 70% of value and sets its own tax rate. Occupancy Tax for rental of hotel rooms for 30 days or less is 12%.

Energy Reliability and Efficiency is of the utmost importance here. The area is proud of power reliability and you will hear that even during most of the nations famous blackouts, Hartford's lights were on! Connecticut's conservation binge has never fluctuated when it comes to efficient use of energy. According to a recent University of Connecticut study, the state's energy consumption is now 28% below the national average. Not only does Connecticut use less energy than most states, it uses that energy more efficiently. Business and Commercial operation here can budget much less in all of the energy columns on their spreadsheets.

The Middlesex Chamber of Commerce has been instrumental in recent area growth and attraction featuring recognized business, political and sports figures nationwide. In addition, the Chamber has developed 17 Business Councils to address commercial and industry specific issues: Automotive, Business/Education, Environment & Land Use, Golf, Health Care, Home-Based Business, Hotel/Restaurant, Insurance, Legislative, Manufacturers, Loss Prevention, Rail, Real Estate, Sport Events, Technology, Transportation and Young Professionals' Alliance. The Chamber has a number of special programs including: the Business Education Partnership Program; the Middletown Mentor Program; Workforce Development Programs; the Business Resource Center; the Middlesex County Substance Abuse Action Council (MCSAAC), and The Connecticut Career Choices and Job Training Program.

The Middlesex County Chamber of Commerce Employee Assistance Program is designed exclusively for Chamber members and especially for smaller employers. The program is provided by Middlesex Hospital and Solutions EAP, a program of Behavioral Health Connecticut, LLC. Now employers of all sizes can benefit from EAP services at affordable prices. This Chamber is and will continue to be a motivating factor in Cromwell and Middlesex continued economic boom.

In summary, Cromwell offers the best of the best for commercial/industrial and residential investment today, and is situating itself for a continued booming economic future. Transportation access, energy costs, infrastructure, quality of life, proud and caring city fathers, climate and location all offer testimony to the fact that this area of Middlesex County is an economic power house now and will continue to be that for the foreseeable future. The Cromwell area and the entire MetroHartford Region boasts a strategic location poised for growth.