3 Encourage & Promote Economic Development
Economic development is typically sought after by communities because:
- it provides employment to residents,
- it offers goods and services, and
- it provides tax revenue to fund local services.
Even though the city enjoys a relatively strong economy based on those three considerations, the City of Groton continues to seek ways to strengthen its economy even further. In a survey conducted during this planning process, residents identified attracting economic development and managing fiscal pressures as two key issues for the City in the future.
Since certain non-business uses can provide employment, goods and services, and more in tax revenue than required in service costs, such uses are also considered to be economic development. This can include age-restricted housing and other types of housing.
Business and economic development will continue to be a priority for the city. While Electric Boat and Pfizer Pharmaceuticals are the most visible and recognizable entities, there are numerous other businesses and within the City that provide employment, offer goods or services, and contribute to the overall tax base. The availability of municipal sewer and an ample supply of water makes the City of Groton an excellent location for business and industrial development.
The city intends to continue to work with employers (including Pfizer, Electric Boat, and the University of Connecticut campus at Avery Point) to anticipate their changing needs and to see how those needs can be met in ways which will enhance the overall character and quality of life in the city.
The city, in conjunction with the region, intends to continue to support economic development and the continued use of existing business-zoned lands for appropriate uses. This will help to maintain the economic strength of the city and the region and provide for additional economic diversity. This includes making full use of the Enterprise Zone designation within the City whereby economic incentives are made available by the State to eligible manufacturing and service sector businesses to stimulate investment in new plant and equipment and to expand or create new jobs.
The city also intends to participate with the Town of Groton, the Southeastern Connecticut Enterprise Region (SECTER), the Connecticut Department of Economic and Community Development, the Thames River Innovation Partnership (TRIP), the Chamber of Commerce, and other agencies in economic development. This approach is consistent with the recommendations in the 2017 Comprehensive Economic Development Strategy for Southeastern Connecticut.
|1. Continue to promote and support economic development by:
a. Supporting existing businesses b. Encouraging expansion of existing businesses c. Attracting complementary business establishments d. Promoting the Enterprise Zone designation.
|Mayor Council SECTER PZC Staff
|2. Continue to work with major employers, the Town, the region, and other agencies in coordinated economic development efforts.
|Mayor Council SECTER TOG TRIP
|Click here for the Responsibility Legend
Attracting tourists and other visitors to the city will also promote economic development of the community. Tourists and visitors will support local businesses and spread positive information about things to do in the city.
The concept of tourism covers physical places such as:
- Fort Griswold State Park,
- National Submarine Memorial,
- Ebenezer Avery House and Museum,
- Avery-Copp House,
- Anna Warner Bailey House,
- Exhibits at the UConn campus at Avery Point, and
- Boating excursions based out of the city.
But tourism should also include attracting people from within the region (and outside the region) to:
- Shops and restaurants along Thames Street and at Five Corners,
- Fireworks celebration on the Thames River,
- Music concerts and events at Washington Park and other locations, and
- Other events and activities which could and should be scheduled in the city (such as food events, festivals, etc.).
This includes projects such as the "Heritage Park" along the Thames River where different attractions in the region (such as downtown New London, Nautilus Museum, Thames Street, Fort Griswold) would be interconnected with shuttles, water transport, and pedestrian connections to promote the tourism "cluster" that exists in the city and surrounding areas (see Section 5.6 of the POCD on page 55).
Strategies To Promote Tourism
|1. Continue to promote tourism and other events and activities and key tourism assets (such as Fort Griswold, National Submarine Memorial, Avery-Copp House, Ebenezer Avery House and Museum, etc.) which bring people to the City of Groton.
|Council BPC TRIP
|2. Continue to promote the "Thames River Heritage Park" concept and inclusion of the City attractions (Thames Street and Fort Griswold).
|Council EDC TRIP
|Click here for the Responsibility Legend
Click the map below to enlarge and map will open in new window.