The town and city of Groton have developed a “blueprint” for economic development initiatives and they presented this plan to the community today.
The Economic Development Strategic Action Plan, in the works for more than a year, outlines goals and lays out strategies for how Groton plans to achieve them, town Planning and Development Director Jon Reiner said.
“The overall goal is to demonstrate what pieces are required to advance Groton’s growth in the best way possible and to show how we’re going to elevate Groton to be a community where you can live, work and play,” town Economic and Community Development Manager Paige Bronk said.
Bronk said it’s important to identify each strategy, so discussions can be held on how to implement it, who will do it, when it might be done and what it might cost. The plan will help the town better inform the public.
Reiner said the town’s Plan of Conservation and Development includes overall strategies and the town also has been following recommendations from a 2016 market analysis, but this next step refines those strategies and provides a formal plan that will serve as a “blueprint” for economic development initiatives.
For example, one of Groton’s main goals is to increase the percentage of people who both live and work in Groton, Reiner said. Currently, commuters hold 80% of the jobs in Groton, Bronk previously has said. The plan outlines how Groton is changing that, including by enhancing recreational opportunities, diversifying and modernizing its housing stock, and creating and expanding on places where people want to go and connect.
Other economic development strategies the town has implemented include Tax Increment Financing to offer incentives for developers to invest in town, the rewrite of the town’s zoning regulations, and the marketing and promotion of properties, Reiner said.