The Connecticut Airport Authority Thursday approved the preliminary application of Merchandising Partners, the fourth business to potentially be part of the Bradley Airport Development Zone.
The zone provides tax incentives to companies that expand and support economic growth around the airport. Merchandising Partners is expanding their operation by moving into a 15,600 square foot area in an idle building, 21 Kenny Roberts Memorial Drive in Suffield.
“We are excited to grow our business in Connecticut. The Bradley Airport Development Zone was instrumental in helping us decide to expand to our new location, which provides us with 50 percent more space,” Matt Wutka, Merchandising Partners president, said in a released statement. “I was very impressed with the efficiency and expediency of the application process.”
The company also promises to add one to two jobs annually during the tax abatement period, CAA officials said.
“We are pleased to continue to advance economic growth around Bradley Airport with the approval of Merchandising Partners’ preliminary application for the zone. The Bradley Airport Development Zone is proving to be very successful in attracting businesses to the towns around Bradley Airport,” CAA chairwoman Mary Ellen Jones, said in a press release.
“The Bradley Airport Development Zone benefits the companies in the zone by providing tax incentives while supporting the surrounding communities by advancing economic development and job growth,” Kevin Dillon, Connecticut Airport Authority Executive Director, said. “The CAA established criteria for businesses applying to the zone to ensure they spur growth in the area. Merchandising Partners will achieve this by investing in the renovation of an idle building and adding jobs.”
The Bradley Airport Development Zone extends tax incentives to airport-related business firms utilizing the airport for distribution, manufacturing and other specified businesses that develop or acquire property in the zone and foster job growth. A business qualifies for tax incentives associated with the program if it acquires an idle facility or constructs, substantially renovates, or expands one and uses the facility for specified uses.
The communities in which the businesses are located can apply to the state for a 50 percent reimbursement of property taxes during the abatement period, Karen Jarmoc, chairwoman of the CAA’s outreach committee, said.
“The tradeoff is also the increased jobs in the community,” Jarmoc said.
Eligible uses include manufacturing, as well as research and development related to manufacturing and work to significantly service, overhaul or rebuild machinery and equipment for industrial uses. Incentives are offered to eligible businesses located in East Granby, Windsor, Windsor Locks and Suffield.
NuFern in East Granby is the first company to gain final approval in the Bradley Development Zone and is having a ribbon cutting ceremony on Friday. The other three companies have to request final approval, Jarmoc said.
Merchandising Partners, LLC is a full service provider of merchandising programs, consumer packaging, and a fabricator of machine guards and Point of Purchase displays. The company is familiar with requirements of the big box retailers, club stores, and most national brand chains, and will design packaging and displays according to their customer’s formats. The company completes projects in their entirety, from design through fulfillment, or focuses on any individual aspect of a given project.