Governor Dannel P. Malloy, joined by Connecticut Airport Authority Chair Mary Ellen Jones and Department of Economic and Community Development (DECD) Commissioner Catherine Smith, today announced that the 11-member Connecticut Airport Authority (CAA) Board of Directors has unanimously voted to create an economic development incentive zone at Waterbury-Oxford Airport, Connecticut’s busiest general aviation airport.
“Airports are important economic drivers and integral to our overall economic development strategy,” Malloy said in a prepared statement. “I applaud the Connecticut Airport Authority for their work to support business development and expansion at Waterbury-Oxford. This enterprise zone will bring jobs and important economic activity to the region.”
Based at Bradley International Airport in Windsor Locks, New England’s second busiest airport, the CAA is responsible for the state’s General Aviation Airports. They are working to expand passenger service options including bringing in new transcontinental service and developing direct international flights.
There are two business incentives associated with the new enterprise zone. Subject to certain conditions, a five-year, 80 percent abatement of local property taxes on real and personal property; and a 10-year, 25 to 50 percent credit on a portion of the state’s corporation business tax.
Oxford lawmakers State Sen. Rob Kane and State Rep. David Labriola on Monday released statements applauding the Connecticut Airport Authority for passing the measure.
“It’s just the type of message we should be sending to the private sector,” Kane said. “We’ve got to do all we can to promote economic development and job creation in Connecticut. The zone’s creation sends a clear, straightforward message to the business community that we are committed to growing jobs. It’s a positive step, and a welcome one. We thank state officials for taking this action.”
“This is tremendous news for the people of Oxford and the surrounding area,” Labriola said. “This creates an engine for economic growth and will allow the airport and the entire region to reach its full potential.”
“The board of the Connecticut Airport Authority is proud to approve the creation of this incentive zone,” Jones said. “We look forward to continuing our strong relationship with businesses, development partners, and other stakeholders at all of our General Aviation airports. They are an important part of economic recovery in Connecticut.”
Located five miles west of Waterbury, the Waterbury-Oxford Airport houses the highest concentration of general aviation activity in the state and provides maintenance, fuel, aircraft storage, and support facilities to meet the demand of corporate jets and single- and multi-engine aircraft.
In 2010, the airport contributed more than 2374 direct and indirect jobs and $235.4 million in economic activity, including $113.9 million of labor income, and $7.9 million in state tax revenues. An estimated 6,500 aircraft used the airport in 2010.
“As a member of CAA’s board, I applaud my colleagues for their support of this opportunity to encourage economic development,” Smith said. “With access to I‑84, utility infrastructure, and the active interest in the surrounding communities, we anticipate great things happening around Waterbury-Oxford.”
For more information on the Connecticut Airport Authority, visit www.ctairports.org.
