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In a recent letter regarding Forrest Machine and economic development in Berlin, Ms. Rochette omits the one significant reason why Forrest Machine relocated to Berlin.
The new tax abatement program that I worked on with Economic Development Director Chris Edge, which the Republican-led council approved in November 2016, sealed the deal for Forrest Machine.
On my Facebook page, I have posted an article dated Feb. 18, 2019, that appeared in the Hartford Business Journal, which speaks about Forrest Machine and other recent economic development in Berlin.
From January 2017 to present approximately 35 businesses either opened or relocated to Berlin.
Business relocations and additional expansions by established Berlin businesses during this time represent approximately $50 million of investment in Berlin, along with approximately 355 jobs.
The projects that are coming soon around the train station and on the Berlin Turnpike represent another $40 million of future investment in Berlin.
The most recent good news is that on June 19, Moody’s Investors Service removed the negative outlook on the town’s bond rating and S&P Global Rating raised our bond rating to AAA.
Per Moody’s, the change reflects “the town’s continual fiscal stability over the last two years.” Moody’s also noted in their research that new commercial developments are ongoing and will help reverse past declines in our tax base.
The above facts illustrate the tremendous economic growth over the past four years and is nothing but positive news for the residents of Berlin.
Mayor Mark Kaczynski
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