4 Hartford Business Journal • November 25, 2019 • www.HartfordBusiness.com
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to eliminate several easements on the site
that would have made finalizing a develop-
ment agreement a challenge, Anderson said.
Loan program
Manchester's other Opportunity Zone cov-
ers its Main Street central business district,
which has also been a focus for the town.
This year, Manchester created a zero-inter-
est building improvement loan program for
businesses there.
Officials this fall approved the program's
first loan, a $200,000 package for Firestone
Art Studio + Cafe in the former Pinewood
Furniture building at 1115 Main St.
Other ongoing Main Street initiatives
include a special district that aims to better
market available real estate and lighting
improvements.
Main and Broad streets run parallel, linked
in the middle by the recently improved
Center Springs Park, and Anderson said both
are key pieces of Manchester's core that will
matter to its future economy, demographics
and quality of life.
The town's ultimate aims are those shared
by many municipalities — population and
grand list growth, more business activity,
and the more intangible:
"We want to make downtown a place where
people want to be," he said. "A buzz or positive
feeling is sometimes hard to measure."
>> Town Profile continued
Manchester
General
Land area (sq. miles) 27
Median age 35
Population (2020) 62,697
Median household income $67,325
Unemployment rate 3.4%
Major Employers
Eastern Connecticut Health Network
Town of Manchester
Paradigm
Manchester Board of Education
Allied Printing
Housing stock
Median price $182,100
Median rent $1,181
Government
Total revenue (2017) $202,901,000
Per capita tax $2,474
Mill rate 36.52
Grand list $4,000,283,742
Economy
Top employment industries Units Employment
Retail trade 322 6,196
Health care and
social assistance 212 5,555
Accommodation
and food services 170 3,314
Top taxpayers (2018)
Taxpayer Amount
Eversource $125,870,140
Shoppes at Buckland Hills LLC $117,494,210
Northland Pavilions LLC $65,343,200
Source: Connecticut Economic Resource Center
After $759M acquisition,
People's United to shutter
18 CT branches
Bridgeport-based regional lender People's
United Bank will close 18 Connecticut branches
of Hartford-based United Bank, which it
acquired Nov. 1, for $759 million.
People's United confirmed the branch count
to HBJ, and said the closures — concentrated
mainly in Greater Hartford, including Manchester,
Vernon, Windsor Locks, Enfield and South
Windsor — will take place by April.
People's United said last year that reducing
its footprint after the deal would be a key
part of its strategy to reduce annual costs by
$88 million pre-tax.
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