Issue link: https://nebusinessmedia.uberflip.com/i/906217
www.HartfordBusiness.com • November 27, 2017 • Hartford Business Journal 19 Source: Connecticut Economic Resource Center Government Total revenue (2015) $56,288,342 Per capita tax $2,234 Total expenditures $53,814,443 Total indebtedness $16,818,247 as % of expenditures 31.3% Annual debt service $2,780,436 Moody's Bond Rating - Actual Mill Rate 27.12 Net Grand List $1,343,190,541 Housing stock Existing units 4,977 % single unit 84% New permits (2015) 33 as % of existing units 1% Demolitions 6 Residential sales NA Median price $301,600 Top 5 grand list Company Amount CT Light and Power Inc. $29.5M Suffield by the River $7.6M Suffield Realty Trust $6.5M Praxiar Inc. $6.1M Connecticut Water Co. $5.5M Town Profile Suffield Town Hall address: 83 Mountain Road Suffield, CT 06078 (860) 668-3838 News Around Town ■ ■ In October, the Bielonko family, multi- generation farmers, conveyed development rights for 125 acres to the state under Connecticut's Farmland Preservation Program, according to Patch. ■ ■ Earlier this year, The First National Bank of Suffield named a new CEO, Joseph Greco, who replaced Nancy Viggiano. ■ ■ Four Season Farm LLC, a recently formed startup, received $3 million from the state earlier this year to develop 10 acres in Suffield as a hydroponic farm, where the company plans to create 40 new jobs over two years. General Land area (sq. miles) 42 sq. mi. Households 4,670 Median household income $99,707 Poverty Rate 5.3% Crime Rate (per 100,000 residents) 595 Population 2000 13,552 Projected 2020 16,601 Median age 41 Largest age demographic 45-54 (30%) Educational attainment Persons age 25 or older % of population High school graduate 26% Associate's Degree 8% Bachelor's or more 39% Labor Force (Residence) Employed 7,131 Unemployed 337 Unemployment Rate 4.5% Place of work # of units 317 Total Employment 4,408 Economics Business profile Sector Units Employ- ment Construction 35 94 Manufacturing 11 516 Wholesale Trade 46 687 Retail Trade 20 168 Total Government 19 1,270 Major Employers • Corrections Department • Robert W. Baker Nursery • Kongsberg Automotive • Walker Reception Ctr • Suffield House listening to you What better banking's all about sm . making it simple basic respect fast response personal service working together local loan decisions time respecting your Allen Miles Executive Vice President, Senior Lender Richard Hanchett Senior Vice President, Commercial Lender Sean Millane Commercial Lender Christopher Fager Assistant Vice President, Commercial Lender Wayne Webster Vice President, Commercial Lender Are you looking to expand your business, buy or build a new facility, or purchase equipment? Westfield Bank can help your business take flight with our team of local business banking experts. We're just the right size to provide the resources you need with the service you deserve. To learn more, call 800.995.5734 or visit westfieldbank.com/soar. Member FDIC With a $35 million lending limit per business entity, we'll help you soar.