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“New York City is out of lab space, or it’s too expensive,” says Stamford Director of Economic Development Thomas Madden, “so those companies can migrate into Westchester County or Stamford.”
“We are starting to plan for our economic recovery and continue to look to book events over the next couple of years,” says Thomas Madden, Connecticut Convention & Sports Bureau chair and Director of Economic Development for Stamford.
The proposal would involve establishing a roughly 10-mile pathway between Stamford and Huntington, Long Island
The fate of the Stamford Town Center, which was put up for sale in October, is unclear.
“Stamford could become the sixth borough of Manhattan" if the promise of improved train service becomes a reality, according to BLT Co-president Ted Ferrarone.
“Our vacancy rate is an overall 5% throughout the town,” says Director of Economic Development Thomas Madden. “And we’re not a big-box place – we have a lot of Mom and Pop stores. That speaks volumes about the healthy market we have.”
The city that claims to have been “Innovating since 1641” is one of the state’s – never mind Fairfield County’s – brightest stars at the moment in terms of business development, housing, population growth, and potential.
“Looking back 10 years later at the original master plan, which was pretty ambitious and speculative, it’s remarkable how much of it has been realized," says Building & Land Technology Chief Operating Officer Ted Ferrarone.
Effective Jan. 1, 2019, the organization’s interim president will be Robert Murdock, its current director of sports marketing.
“We’re all about figuring out how to work collaboratively with communities and listening to what they want and what they need,” RXR Metropolitan Executive Vice President Seth Pinsky said at the Oct. 4 "Economic Development in Our Urban Hubs" discussion.
The multi-municipality marketing group's Sept. 13 event in midtown Manhattan has resulted in a number of tech firms looking to tour the area with an eye toward relocation.
According to Fairfield First Selectman Mike Tetreau, the five member municipalities contribute 22 percent of the total income tax revenue to the state, while the county overall contributes 42 percent.
Having done well in Westchester County, Madden views repurposing Stamford's High Ridge Park as a test case for Fairfield County. The proposal to repurpose one of the six buildings into a fitness facility has run into significant opposition from neighboring residents.
The 700,000-square-foot building at 677 Washington Blvd. has been empty since UBS relocated last year to 600 Washington Blvd.
Addressing traffic congestion and fighting perceptions of over-development are two of his key challenges, Martin said.
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