Milford is in the midst of an economic renaissance with an explosion of new businesses moving into town. Our business development significantly outpaces all other surrounding Connecticut towns and our commercial spaces have an impressive 96 percent occupancy rate. Last year we saw over $100 million in new construction, and over the past two years we've experienced a 26 percent increase in new business growth above and beyond what Milford has ever experienced. As a result of the influx of new businesses and the expansion of existing businesses, our Grand List swells, with the highest number of new business starts in over a decade (a 24% increase since 2008.) There was a 6.8% increase in new business starts from 2017-2018 alone.
We continue to hold strong each year, significantly outpacing all surrounding municipalities. Out of 169 municipalities, Milford is ranked ninth in the State of Connecticut and first in New Haven County. This growth has allowed Milford to cut taxes for three consecutive years, furthering small business growth and helping household reductions. As we continue to reduce Milford's mill rate, which at 27.71 mills, is already far less than any of our neighboring communities, businesses continue to invest in the community because of the low cost of doing business here.
"Milford offers and unmatched quality of life, with 17 miles of shoreline, the longest in the State, we offer pristine beaches and marine opportunities, world class restaurants and theater. It is centrally located with the main railroad running right through the heart of our quaint downtown area, quickly linking you to Boston or New York and major airports. We have more on and off exits than any other city in the State of Connecticut making this a desirable place to do business. Deep-water ports are right next door in New Haven and Bridgeport along with an active public transient marina in our vibrant downtown. As we head into our fourth consecutive year of tax cuts, our grand list continues to swell and remains the largest in New Haven County. New businesses are moving in at a quick pace with more new business in 2018 than over a decade. A AAA bond rating allows businesses and residents the reliability of a healthy government. We are a diverse community with a wealth of qualified highly educated employees to meet any company's needs. We are proud to have a top rated educations system with a 97.7% graduation rate. The heart of Milford lies in its community committed to non-profit support with fundraisers abound, this City takes care of each other."
-Julie Nash, Director of Economic Development for the City of Milford
Business likes to be close to major roadways like I-95, the Merritt Parkway and US 1. It likes to be on the main railroad line from Boston to New York served by Amtrak and MetroNorth. Business needs to be close to major airports like Bradley, JFK, TF Green, LaGuardia, Newark and regional airports like Tweed New Haven and Sikorsky. Deep-water ports are right next door in New Haven and Bridgeport.
If you want to make Milford home to your business, contact the Director of Economic Development, call Julie Nash at (203) 783-3230 or e-mail firstname.lastname@example.org
For information on available sites, look to our members: [ Real Estate Firms ]
Milford Regional Chamber of Commerce, Inc.
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Whether you are a business or family looking to vacation, re-locate, or shop, Milford offers unlimited opportunities of all types. So, come visit us and you will understand why we are known as “the small city with a big heart.”