NewHavenBIZ

n e w h a v e n b i z . c o m | M a r c h 2 0 2 2 | n e w h a v e n B I Z 11 Call us 800-475-2265 or visit washtrust.com More than commercial banking. CONNECTICUT COMMERCIAL BANKING from a bank that can take your business to the next level. James M. Hagerty Executive Vice President, Chief Lending Officer Julia Anne Slom Senior Vice President, Team Leader, Commercial Real Estate Anthony Botelho Senior Vice President, Team Leader Kevin Hanrahan Vice President, Commercial Real Estate Albert R. Clemente Vice President, Commercial Real Estate Thomas D. Pizzo Vice President and Market Leader, Commercial Banking Edward O. Handy III Chairman and Chief Executive Officer Member FDIC. GENERAL Land area (sq. miles) ............................... 29 Median age .............................................. 35 Population ...................................... 114,403 Median household income ............. $42,401 Unemployment rate .............................7.2% MAJOR EMPLOYERS • St. Mary's Hospital • McDermid Inc. • Waterbury Hospital • Webster Bank • Post University GOVERNMENT Total revenue (2018) ................$455,882,000 Per capita tax ...................................$2,233 Mill rate ................................................60.21 Grand List .............................$4,465,712,868 HOUSING STOCK Median home value ................... $130,700 Median rent ....................................... $969 ECONOMY Top employment industries Employers Employment Avg. Wage Health Care & Social Assistance ..................... 10,293 ........................ 334 .................... $53,831 Retail Trade ........................................................ 5,349 ........................ 441 .................... $31,636 Local Government .............................................. 4,200 .......................... 18 .................... $59,493 Source: AdvanceCT Town Profile: Waterbury making more than mom and dad." Waterbury's manufacturing base includes both traditional factories but also unconventional ones, like Ideal Fish, McGrath said. e company — located along the city's eastern I-84 corridor, which has seen growth in recent years — grows fish for sale to restaurants and suppliers throughout the Northeast, McGrath said. Its specialty is branzino, a popular Mediterranean fish the company receives from overseas as guppies, grows to full size and then sells, he said. Part of what attracts businesses like Ideal Fish is Waterbury's location at the nexus of I-84 and Route 8, giving them easy access to the entire Northeast, city officials said. Another increasingly important factor is improved rail service on the Waterbury Line, which takes passengers down the Naugatuck Valley with connections to New York City and the rest of the Northeast. Last fall, the state completed signaling and other improvements that allowed for revival of freight service, yet another powerful selling point for manufacturers and other businesses, O'Leary said. ere remains much to do, city officials said. Improving downtown, including demolishing and cleaning up old industrial buildings in the Freight Street area to create a 20-acre developable parcel, and bringing the Amazon deal to fruition are top priorities, Hyde said. e city would also like to do something with the struggling Brass Mill Center shopping mall and has received inquiries about the property, but has so far been unable to connect with its owners, he said. "I think 2022 is going to be a huge year," O'Leary said. n An outline of Waterbury's plans to redevelop 20 acres on Freight Street.

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