www.HartfordBusiness.com • June 4, 2018 • Hartford Business Journal 19
Government
Total revenue (2015) $100,764,679
Per capita tax $3,336
Total expenditures $95,875,482
Total indebtedness $42,985,902
as % of expenditures 44.8%
Annual debt service $6,866,267
Moody's Bond Rating Aaa
Actual Mill Rate 24.44
Net Grand List $3,500,061,738
Housing stock
Existing units 11,052
% single unit 60%
New permits (2015) 31
as % of existing units 0.3%
Demolitions 17
Residential sales 280
Median price $327,600
Top 5 grand list
Company Amount
West Farms Associates $147.1M
Dunn-Sager Affiliates $55.9M
United Technologies $48.9M
CT Light & Power $40.3M
Trumpf Inc.
$31.3M
Town Profile
Farmington
Town Hall address:
1 Monteith Drive, Farmington, CT 06032
(860) 675-2350
News Around Town
■ ■ In May, Farmington's Tunxis
Community College received a $120,000
grant to study whether Connecticut
municipalities and homebuilders are
complying with state energy codes.
■ ■ In April, an HBJ profile showed
Farmington is on the cusp of another
growth spurt, one where new development
of apartments, condos, senior-living
spaces and medical offices predominate.
■ ■ More than 56 percent of Farmington
residents have a bachelor's degree
or higher, which is nearly double the
statewide average.
General
Land area (sq. miles) 28 sq. mi.
Households 10,343
Median household income $91,712
Poverty Rate 5.5%
Crime Rate (per 100,000 residents) 2,703
Population
2000 23,641
Projected 2020 25,422
Median age 43
Largest age demographic 45-64 (29%)
Educational attainment (2012)
Persons age 25 or older % of population
High school graduate 19%
Associate's Degree 7%
Bachelor's or more 56%
Labor Force (Residence)
Employed 13,430
Unemployed 551
Unemployment Rate 3.9%
Place of work
# of units 1,305
Total Employment 31,126
Economics
Business profile
Sector Units
Employ-
ment
Construction 92 918
Manufacturing 38 2,180
Retail Trade 174 3,504
Finance and Insurance 151 4,065
Health Care and Social Assistance 126 3,761
Total government 22 6,209
Major Employers
• UConn Health Center
• Town of Farmington/Board of Ed
• Macy's
• Otis Elevator Co.
• ConnectiCare
Source: Connecticut Economic Resource Center
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