June 19, 2014

GOV. MALLOY: CAA BOARD APPROVES FIRST BUSINESS APPLICATION FOR THE WATERBURY-OXFORD AIRPORT DEVELOPMENT ZONE

Manufacturing Firm Will Create 18 to 20 Jobs in the Waterbury-Oxford Area

(HARTFORD, CT) - Governor Dannel P. Malloy announced that the Connecticut Airport Authority (CAA) Board of Directors last week approved the first application submitted by a business located within the Waterbury-Oxford Airport Development Zone . The business, Autonomy Technology, Inc. (ATI), has applied to take advantage of the tax incentives available to eligible businesses within the zone. ATI plans to create or retain 18-20 jobs within the company's first two years of operation within the development zone.

"We created Connecticut's airport development zones because we recognize the tremendous potential of our five General Aviation airports and the role they play as regional economic drivers," said Governor Malloy. "These zones allow businesses to thrive and create jobs for residents, and that's a win-win for the state."

CAA is responsible for ensuring that the economic development potential of Connecticut's five General Aviation airports, in addition to Bradley International Airport, is realized, and that appropriate business, strategic and marketing plans for the airports and surrounding areas are established. This includes creating new jobs, attracting new capital and increasing tax revenue to the state and regional municipalities.

"This is an exciting step for the Connecticut Airport Authority and the Waterbury-Oxford Airport Development Zone," said CAA Board Chair Mary Ellen Jones. "We are pleased at this early success for the Zone, and we hope that ATI's approval will demonstrate the real benefits of inclusion to any other companies interested in the program."

Businesses qualify for Development Zone tax incentives if the organization(s) acquires or leases an idle facility or constructs, substantially renovates or expands the facility and uses it for specified purposes. These include manufacturing, performing research and development directly related to manufacturing or significantly servicing, overhauling or rebuilding machinery and equipment for industrial uses, and other airport-related services. Businesses that also meet certain criteria are eligible for a five-year, 80 percent local property tax abatement on real and personal property, as well as a ten-year corporation business tax credit. Businesses qualify for the abatement based on the value of the improvements made to acquired, newly constructed, renovated, or expanded facilities.

"The Waterbury-Oxford Airport Development Zone holds great potential due to the high level of general aviation activity at that airport," said CAA Executive Director Kevin Dillon. "Airports are major economic drivers, and this program helps the State utilize that potential. We are excited by Autonomy Technology Inc.'s approval for a Certificate of Eligibility and benefits under the new Zone."

ATI plans to sell, manufacture and distribute medium voltage switchgear, generator connection systems and cable assemblies to customers up and down the eastern seaboard. This will be the first northeastern facility for Autonomy Technology, Inc., which already operates in Oregon, Alaska, and Nevada. The company's application indicates an initial projection of approximately 18 to 20 new, full-time positions at its Oxford location over the next two years.

About Waterbury-Oxford Airport
Waterbury-Oxford Airport is a public-use general aviation airport, located approximately seven miles southwest of the City of Waterbury. The Airport contains the highest concentration of general aviation activity in the State of Connecticut. It provides maintenance, fuel, aircraft storage, and support facilities to meet the demands of corporate jet and single- and multi-engine aircraft. In 2010, the total economic contribution of the Waterbury-Oxford Airport totaled more than 1,670 jobs and $235.4 million of output.

About the Connecticut Airport Authority
The CAA was established in 2011 to develop, improve, and operate Bradley International Airport and the state's five general aviation airports (Danielson, Groton-New London, Hartford-Brainard, Waterbury-Oxford, and Windham). The CAA Board consists of 11 members with a broad spectrum of experience in aviation-related and other industries, as well as government. The goal of the CAA is to make Connecticut's airports more attractive to new airlines, bring in new routes, and support Connecticut's overall economic development and growth strategy.

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For Immediate Release: June 19, 2014

Facebook: Office of Governor Dannel P. Malloy