HARTFORD, CT - Governor Dannel P. Malloy on Monday announced that the Connecticut Airport Authority (CAA) has approved its first pre-application for a business located within the recently created Waterbury-Oxford Airport Development Zone, which was formed in August 2013. The business, Autonomy Technology, Inc. (ATI), has applied to take advantage of the tax incentives available to eligible businesses within the zone.
“The purpose of creating the Waterbury-Oxford Airport Development Zone was to recognize the significant possibilities of utilizing this airport as an economic driver for the region, located in an area where businesses can thrive,” Governor Malloy said. “I am glad that this new development zone is beginning to show positive results, and I look forward to continuing to work with the Connecticut Airport Authority as a partner in the state’s efforts to propel business growth.”
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.
“We’re very excited about the opportunity in Oxford,” said Greg Knowles, CEO of ATI. “The location is ideal for us to provide the type of customer service that we extend from our other facilities.”
Mike Scala, President and COO of ATI also added, “As a native and lifelong resident of Connecticut, I’m proud to be helping restore manufacturing to our State. This positioning is perfect for ATI in our overall plan for expanding our business and bringing more jobs into the State.”
“The CAA is pleased to approve this first pre-application for the new airport development zone at Waterbury-Oxford Airport,” said CAA Board Chair Mary Ellen Jones. “One of the Airport Authority’s primary goals is economic development, and this early interest in the zone is indicative of the airport’s ability to draw business to the state.”
“We are excited by the approval of this pre-application within a few months of the zone’s creation,” said CAA Executive Director Kevin Dillon. “This development zone allows the state to harness the high level of general aviation traffic at Waterbury-Oxford Airport and spur economic growth. We look forward to continuing the application process with Autonomy Technology, Inc. and engaging in similar discussions with other interested businesses.”
The Waterbury-Oxford Airport Development Zone offers tax incentives to businesses that acquire or lease an idle facility or construct, substantially renovate, or expand facilities within the zone. The businesses must be involved in manufacturing, research and development related to manufacturing, servicing, overhauling, or rebuilding machinery and equipment for industrial uses, or other services that are related to the airport. Businesses that 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.