While serving as our First Selectman, Jim Zeoli has focused on bringing new business to our community.
Our stable tax rate and sound infrastructure has helped to foster economic growth in Orange. We have paved the way to make Orange the place for businesses, big and small, to locate.
The new Edison Road extension was completed, opening up opportunities for further business development. Orange applied for and received a series of grants that allowed the $1 million project to be essentially completed with federal and state funding. The Zeoli team has evolved with the times, seeking out practical projects to balance out the universally shrinking brick and mortar retail market. Our commercial vacancy rate has dropped from over 10% down to 3.33%. Overcoming the State’s anemic economic growth rate has been a challenge, but new businesses have located in Orange and more are coming.
Over the years, many major new companies, as well as many more retail businesses have opened in Orange. They include Fedex Distribution Center, EasternTech, Hilton Homewood Suites, V.A. Care Center, U-Haul Moving & Storage Aurora Foods, Colony Hardware, Numet Machining Techniques, Inc., University of New Haven, Yale University including the Yale School of Nursing, United Illuminating Operations Center and Avangrid Corporate Headquarters. The light industrial area of Orange continues to expand, bringing the vacancy rate in the Town of Orange down to 3.33%. In addition, both
First Selectman Jim Zeoli said, "Orange's light is shining bright at the moment. We have put in a lot of hard work and effort over the last several years to prepare the industrial zone for this level of development. With continued support from our team, which includes the Orange Economic Development Corporation and our local commercial realtors we expect to maintain this momentum through the long term."
With the 1,500 employees that they bring to Orange, United Illuminating has become the town’s top taxpayer, generating millions of dollars in tax revenue each year.
A significant benefit of Yale University is their ability to attract biotech companies to Orange. Opportunities like these are being actively pursued by the Zeoli Team. The fostering of relationships with commercial realtors across the country is beginning to pay off. As the economy recovers, our ongoing economic development efforts will continue to ease the burden of our residential taxpayers.
With our business friendly economic envirnment, Orange has a bright future as a great place to do business.