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, 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.
There's no doubt that Milford boasts one of New England's most beloved town greens, the second longest in the state. Nestled alongside the harbor, the Green is a stone's throw from Lisman Landing, the Historical Society, the Milford Arts Council, the MAC, and the tallest flagpole in the State. Ever changing and growing, the downtown area features landmark restaurants like Seven Seas and Stonebridge, quaint shops, two theaters and the Milford Public Library library.
The Downtown Milford Business Association consists of 120+ businesses located in Downtown Milford, each committed to maintaining a strong, viable downtown community through our series of signature annual events like Pirate Day, Downtown Milford Farmer's Market, the Summer Movie Night Series, and the 11th Annual Downtown Wine Trail.
The DMBA is an organization of merchants, restaurants, and service providers working together to improve the community and culture of downtown Milford. With its boutique shops and restaurants, coastal beauty, historic New England charm, and easy access to beaches, Downtown Milford is just waiting to be explored.
The Walnut Beach business corridor continues to enhance and attract new businesses such as the Walnut Beach Wellness Center, the Firehouse Gallery, and The Fig Cooking School. With the help of the Walnut Beach Association, the community focused non-profit working to beautify, enhance, and promote Walnut Beach, there is a real tourism draw in the Walnut Beach area, infusing the city with tourism dollars. The WBA hosts a series of events throughout the year to help promote the local community. These events include the Walnut Beach Arts Festival, Walnut Beach Clean-Up Day, the Summer Concert Series, and our most recent addition, the Walnut Beach Cornhole Tournament.
Recognized for its decades-long revitalization project, the Village of Devon is the gateway to Milford, situated on the edge of the Housatonic River. This latest up-and-coming neighborhood with boutique shops like Bohemian High, the brand-new Dockside Brewery and Village Marina and Hair House, Devon has recently undergone a lengthy renovation, with brick-paved sidewalks, classic lamp posts, and signage injecting a new energy into village life. With a renaissance of sorts in the small hamlet on the western tip of the city, Devon has a vibrant small-town vibe where you're sure to run into neighbors at the farmer's market on Sunday mornings or at happy hour at the Bridge House.
The Connecticut Post Mall has been an integral part of Milford's economic landscape for years. As a part of the Milford business community, the Connecticut Post Mall is dedicated to the community and continues to attract new business in Milford's ever-evolving economic landscape. Westfield Connecticut Post Mall is the largest shopping mall in the New Haven region, located conveniently just off I-95, Exit 39B and Route 1 (Boston Post Road in Milford), in the heart of Milford. It boasts more than 150 stores, and 25 restaurants and a 14 screen theater and IMAX.
Milford Regional Chamber of Commerce, Inc.
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5 Broad Street · Milford, CT 06460
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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.”