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Connecticut Airport Authority (CAA) Moves Economic Development Zone Forward with First Business Approval 6/25/2012
CAA Approved Nufern's final application to be eligible for a host of tax incentives offered to companies that expand and support economic growth around the Airport
 

 

WINDSOR LOCKS, Conn. – June 25, 2012 – East Granby manufacturer Nufern is the first Connecticut business to avail itself of the state’s new Bradley Development Zone near Bradley International Airport. The state’s quasi-public Connecticut Airport Authority (CAA) has approved Nufern’s final application to be eligible for a host of tax incentives offered to companies that expand and support economic growth around the Airport.

Nufern, a global company that designs and manufactures specialty optical fibers, fiber lasers, and amplifiers, is expanding its facility from 65,000 to 95,000 square feet.

“The Bradley Development Zone incentives helped Nufern gain corporate support for an expansion in Connecticut.  Working through the application was straightforward and transparent.  We admire the CAA team for implementing the program so efficiently,” said Martin Seifert, President of Nufern. 

“Nufern’s inaugural status is a significant step for the Bradley Development Zone, an important initiative,” said CAA Chair Mary Ellen Jones. “The CAA is pleased to be able to respond quickly to the opportunities associated with the Bradley Development Zone and ensure this job-growth program moves forward.”

East Granby First Selectman James M. Hayden - who also serves as chair of the Bradley Development League - today applauded Nufern and the CAA for its positive first step. “East Granby is delighted that Nufern continues to invest in our town and in Connecticut by adding a 30,000 square foot addition to their current building,” said Hayden. “Nufern’s investment adds jobs, adds to the local tax base and adds to the growing number of high tech businesses in town. We are pleased that East Granby-based Nufern is the first company to utilize the new Bradley Airport Development Zone and its incentives and look forward to their continued success.”

The Bradley Airport Development Zone extends tax incentives to airport-related business firms utilizing the Airport for distribution, manufacturing and other specified businesses that develop or acquire property in the Zone and foster job growth. A business qualifies for tax incentives associated with the program if it acquires an idle facility or constructs, substantially renovates, or expands one and uses the facility for specified uses. Eligible uses include manufacturing, as well as research and development related to manufacturing and work to significantly service, overhaul or rebuild machinery and equipment for industrial uses.  Incentives are offered to eligible businesses located in East Granby, Windsor, Windsor Locks and Suffield.

The CAA worked cooperatively with the Department of Economic and Community Development, Bradley Development League, Metro Hartford Alliance and municipal leaders to develop policies and procedures for the Development Zone.

The Connecticut Airport Authority was established in July 2011 to develop, improve and operate Bradley International Airport and the state’s five general aviation airports (Danielson, Groton-New London, Hartford-Brainard, Waterbury-Oxford, and Windham airports). The CAA Board consists of 11 members with a broad spectrum of experience in aviation-related and other industries as well as government. The goal of the CAA is to make Connecticut’s airports, specifically Bradley International Airport, more attractive to new airlines and bring in new routes, which supports Connecticut’s overall economic development and growth strategy. 

 
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