Economic Development News & Updates in
Greater New Haven
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With new $140+ million Yale pledge, Yale, New Haven promote growth, economy |
Yale University and the City of New Haven today reconfirmed their historic, three-century partnership for a new generation, announcing a six-year commitment that increases the university’s annual voluntary financial contribution to the city and creates bold opportunities for inclusive economic growth that benefit the entire community.
Yale President Peter Salovey, New Haven Mayor Justin Elicker, and Board of Alders President Tyisha Walker-Myers made the announcement at a press conference at City Hall today.
This nationally unique new partnership includes four components:
- A significant increase in Yale’s voluntary payments to the city, totaling $52 million in new money over six years. When combined with Yale’s existing voluntary payments, Yale will contribute approximately $135 million to the city over this six-year period. This amount is unprecedented nationally.
- A new Center for Inclusive Growth to be established at Yale, to which Yale will contribute an additional $5 million in the first six years. The center, guided by an advisory committee that will include university, city, and community leaders, will develop and implement strategies to grow the city economically in a way that benefits all of New Haven’s residents.
- The conversion of High Street between Chapel and Elm streets into a city-owned walkway without vehicular access. Yale will provide to the city a design and then fund its renovation. Yale’s and the city’s goal is to make this a beautiful public space.
- A new commitment to offset the city’s loss in tax revenues for any properties Yale takes off the tax rolls in the next six years.
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Bioscience incubator opens doors on New Haven’s Congress Ave. |
The latest bioscience incubator space to open in New Haven is set to nurture the next great Elm City entrepreneurs, science leaders said on Tuesday.
The New Haven Innovation Labs incubator houses 7,630 square feet of lab and office space for up to 19 startups inside the Pierce building at 290 Congress Ave., near the Yale Medical School. The project, a partnership with BioCT, recently wrapped up after more than a year of renovations funded by a $550,000 grant from CTNext, the state entrepreneurship program. Read More
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Board of Alders approves Fusco Plan for Long Wharf |
the Board of Alders unanimously approved a zoning amendment to allow for residential development at Long Wharf.
Earlier this year, the New Haven City Plan Commission recommended a zoning ordinance, which allows for residential and related uses of up to 500 apartments located at 501-585 Long Wharf Dr. The plan passed despite opposition by the Connecticut Department of Energy and Environmental Protection, or DEEP.
The development project will be led by the Long Wharf-based Fusco Corporation. Read More
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Connecticut gained 5,300 jobs in October |
Connecticut added 5,300 jobs in October, the 10th consecutive month of employment gains.
According to data from the Connecticut Department of Labor, the state ended October at a level of 1.6 million jobs, which is 39,100 (2.5%) positions higher than one year ago. The state has also regained 72.8% (212,900) of the 292,400 positions lost in March and April 2020 when the Covid-19 lockdowns occurred.
The department also revised September’s job gains higher by 1,800 to a 6,500 (0.4%) gain. Read More
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Restaurant Revitalization Fund Reports Due 12/31/2021 Read More
SBA Announces Updated Guidance Regarding Applicant Deadlines for COVID Economic Injury Disaster Loan Program Read More
Department of Economic and Community Development (DECD) Pandemic Recovery Business Survey Read More
New Commercial Airline Eyes Flights Out Of Sikorsky Read More
Yale Peabody Museum will reopen in 2024 — and offer free admission going forward Read More
December 1 2:00 p.m. Government Contracting and Procurement presented by SBA Read More
December 2 8 a.m.-2 p.m. The 2021 Connecticut Economic Development Summit Read More
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