4 Hartford Business Journal • November 11, 2019 • www.HartfordBusiness.com
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having been fully leased within a year before
being sold in January for $61 million to a New
York investor.
Giner said a wetlands application has been
submitted for the project's next phase, which
will include 42 apartment units constructed
on Bloomfield Avenue, across from town hall.
Paul Butler, who is the principal of 25
Jerome Avenue LLC, is the project's master
developer. He acquired property in the town
center and received approval in 2014 to build
407 apartments in three phases on Bloom-
field and Jerome avenues and Jerome Way.
So, what's led to the Bloomfield building
boom?
R. Michael Goman, principal of realty bro-
kerage firm Goman + York, which provides
economic-development consulting for the
town, said Bloomfield's central location — next
to key highways and the employment centers of
Hartford, West Hartford and Windsor, as well as
more broadly New York and Boston — makes it
attractive for residential and commercial devel-
opment, including distribution centers.
Just as important, Goman said town
officials have created a business-friendly
environment.
"There are a lot of towns in Connecticut
that wait on the next opportunity to come to
their door," Goman said. "What Bloomfield has
been good at is taking a much more proactive
stance to adding businesses to the communi-
ty. If you want to attract companies you have
to go out and compete."
Bloomfield's use of tax abatements also
helps, Goman said, especially when the town
is competing with other low-cost locales.
Cigna, for example, was looking at Phoenix
and Nashville for its expansion plans, both
of which have much lower operating costs
than Connecticut, Goman said. However,
it committed to investing $90 million to
reinvigorate its Bloomfield campus after the
town approved a multi-year tax abatement
that will save the company millions of dollars
in property taxes, Goman said.
"The tax abatement was critical," Goman
said.
>> Town Profile continued
Bloomfield
General
Land area (sq. miles) 26
Median age 50
Population (2020) 20,508
Median household income $73,593
Unemployment rate 3.9%
Major Employers
• Cigna
• World Class Distribution (Trader Joe's)
• Town of Bloomfield
• Kaman
• Seabury
Top taxpayers (2015)
Eversource $94,615,790
HG CONN Realty Corp. $41,585,260
AMCAP COPACO II LLC $40,748,911
Government
Total revenue (2016) $92,637,988
Per capita tax $3,488
Actual mill rate 37.52
Grand List $2,116,863,202
Housing stock
Median price $211,300
Median rent $1,250
Economy
Top employment
industries Units Employment
Finance and insurance 48 4,805
Manufacturing 71 3,194
Health care and
social assistance 118 2,429
Source: Connecticut Economic Resource Center
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CT legal dispute over high-speed
internet infrastructure settled
A legal dispute between a major internet
provider and an industry upstart over the
buildout of high-speed internet infrastructure in
Connecticut has been settled.
The year-long dispute between Frontier
Communications and Netspeed LLC hinged on
gaining timely approvals to install fiber and other
high-speed internet equipment on utility poles.
New York-based Netspeed, which over
the past few years has been building out
fiber internet infrastructure in West Hartford,
Hamden, New Haven and Bridgeport, under the
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