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Middlebury Approves Winchester Electronics' Tax Incentive Application

A new business will open in the Timex building on Park Road Extension.

 

Middlebury residents quickly voted to accept Winchester Electronic's tax incentive application, at a Monday, Oct. 1, town meeting at Shepardson Community Center.

Jasmine McIntyre, human resources manager of Winchester Electronics, said the company is moving into the Timex building on Park Road Extension.

According to the Winchester Electronics website, the Wallingford company designs and manufactures an interconnect products, including PCB, RF, and Power connectors.

The company is the first company to participate in the town's incentive program, according to Mike Kenausis, Economic Development co-chair.

Kenausis said Winchester Electronics met criteria in order to apply for a tax break.

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The Purpose of the Tax Incentive Policy

The tax incentive policy was created as a way to attract, retain and expand businesses in Middlebury.

Real Property Tax Incentive Options

The assessment of the real property is subject to the cost of the project improvements, according to the tax incentive policy [attached to this article as a PDF].

  • More than $3,000,000 - 5 years
  • $500,000 - $3,000,000 - 4 years
  • $100,000 - $499,999 - 3 years


The percentage of the incentive a business may apply for differs based on the net gain of assessed value.

A Net Gain of Assessed Value of $100,000 or More

  • Year 1 - 35 percent
  • Year 2 - 25 percent
  • Year 3 - 15 percent

$500,000 or More

  • Year 1 - 35 percent
  • Year 2 - 30 percent
  • Year 3 - 25 percent
  • Year 4 - 20 percent

$3,000,000 or More

  • Year 1 - 35 percent
  • Year 2 - 30 percent
  • Year 3 - 25 percent
  • Year 4 - 20 percent
  • Year 5 - 15 percent

The motion to accept Winchester Electronics' tax incentive application passed unanimously by the approximately 30 people in attendance.

Sean M October 02, 2012 at 01:20 PM
This is another example of why CT is losing business as it is. Companies have to be bribed to do business in this state. Why? Because taxes are too high. Regulatory costs are outrageous. Why are property taxes too high? Out of control school spending. Government spends too much and thus taxes too much to cover the spending. What needs to happen is cut taxes so businesses choose to come here, not get paid to come here. The situation will never change until this stuff stops and the real problems get addressed.
joe_m October 02, 2012 at 02:12 PM
Welfare for business and the home owner pays for it. No one ever does the analysis on the cost to taxpayers versus any benefit these "tax incentives" provide. And we never make the connection that lower taxes for all will bring business and economic prosperity. Government handouts only help a few and harm many. Too bad we never learn.
James October 02, 2012 at 05:12 PM
Perhaps someone should examine the reason for Winchester's departure from Watertown, and ask what their former location is used for today.
allen sommerby November 27, 2012 at 08:11 AM
as a former employee you will find they will create zero jobs in Middlebury since all production work has been outsourced to China and Mexico. Good luck with your new corporate citizen Middlebury, you've just been taken for a ride.

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