ROCKY HILL- massive warehouse

[The Voice of Reason]

It seems as though Rocky Hill has lured a company called Burris Logistics to the Hartford region.

Burris Logistics acquired 92 acres on Brook Street from Winstanley Enterprises for $14.6 million. The land is being developed in two phases by the Stellar Group to eventually encompass 500,000 square feet of refrigerated warehouse and distribution center space for BJ's Wholesale Club.

Under the plan, Burris Logistics, which is based in Milford, Del., will receive a $143,534 tax abatement each year during the next three years.

Under the tax abatement plan, Burris will receive a tax break for each of the first three years of the development, which is based on knocking 20 percent off the taxes levied on the assessed value of the building and personal property. That value is calculated at $25.27 million.

Carpentino said that even with the tax abatement, the town will receive $865,376 each year for the next three years in tax revenue from Burris; that figure represents a $765,227 increase in taxes from what the town had been receiving from the property. In addition, Burris has committed to staying in Rocky Hill for 15 years, trucks will be registered in Rocky Hill and the company will create 200 new permanent jobs and 300 construction jobs, all at above-average wages.

200 jobs is nothing to sneeze out. and those tax revenues are pretty damn good even with the tax break. Also the tax break requires them to double its size within 5 years. So that means there will be double those taxes in 5 years. I am not sure if those 200 workers will double of if that figure includes the doubling 5 years from now.

If it does not, 400 jobs and an increase of $1.6 Million in tax income is a very good snag to local industry.

I got the article from my bloomberg terminal and the Courant under the new britain region.

so I do not have a link

[The Voice of Reason]

http://www.courant.com/business/hc-warehou...5,0,55356.story

Looks like the AP I mean Courant has picked up on this news.

I am impressed that theregion has become a transport hub. all the more reason to get the commuters off the highways and onto a train.

[Lowerdeck]

Suprised to see there's quite a few warehouses around in the Hartford area. I know there's quite a few in the 395 corridor: Lowe's Home Improvement, United Natural Foods, Staples (three separate warehouses), Crabtree and Evelyn, Rite Aid. Surprised there isn't more with the cheap land and labor (compared to the rest of southern New England) and certain towns being pro-business (Putnam, Killingly, Plainfield).

Anyway, good for the Rocky Hill area. These types of warehouses bring a few hundred jobs for the general labor market, caught up in the talent agency racket. Always need more of that.