Milford Adopts Plan to Boost Business and Market Harbor Area
Members of Milford’s Economic Development Commission (EDC) are looking forward to a busy year and expect to continue the success the small shoreline city has recently enjoyed in business growth after adopting a new plan that supports existing strengths and puts a new focus on its oldest asset – its harbor.
Settled in 1639, Milford has in recent years enjoyed “an explosion of new businesses moving into town” according to Commission members. The city’s commercial spaces have a 96 percent occupancy rate and last year Milford saw over $100 million in new construction. In addition, the city has experienced a 26 percent increase in new business growth.
So for an encore, the city is going back to basics. Milford’s harbor was what first attracted English settlers to the area. This year, the EDC decided to include the harbor area as an economic development priority along with downtown development, business retention and tourism.
Marina is big asset back to top
Commission Vice Chairman Greg Harla said, “Milford has one of the only city owned transient marinas along the sound, this is an asset we need to pay more attention to and I look forward to working with everyone to continue to get the word out about the marina.”
The commission has also launched a new quarterly Economic Development Roundtable, created to facilitate meetings between all related economic development organizations in the City on a quarterly basis to share ideas and help promote and update each organization on new developments.
“This will be an important year for our commission,” EDC Chairman Michael Lynch said. “We have a great mix of expertise on the EDC, that, along with our plans and relations with other organizations, we will strive to continue to build upon Milford’s image as an inviting and business-friendly community.”