Project could bring 1,000 jobs to Waterbury, Naugatuck – WFSB
Bluewater Property Group has been selected as part of a joint collaboration between the state and local governments to develop a plan that will turn the Waterbury/Naugatuck Industrial Park into a state-of-the-art distribution facility.
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Bluewater Property Group has been selected as part of a joint collaboration between the state and local governments to develop a plan that will turn the Waterbury/Naugatuck Industrial Park into a state-of-the-art distribution facility with the potential to create up to a thousand new jobs.
WATERBURY, CT (WFSB) – A project could bring 1,000 jobs to the City of Waterbury and Borough of Naugatuck.
Bluewater Property Group has been selected as part of a joint collaboration between the state and local governments to develop a plan that will turn the Waterbury/Naugatuck Industrial Park into a state-of-the-art distribution facility.
Gov. Ned Lamont, Waterbury Mayor Neil O’Leary and Naugatuck Mayor Warren Hess held a news conference Tuesday morning.
They announced that Bluewater Property Group has been selected as part of a joint collaboration between the state and local governments to develop a plan that will turn the Waterbury/Naugatuck Industrial Park into a state-of-the-art distribution facility with the potential to create up to a thousand new jobs.
They said the Waterbury/Naugatuck Industrial Park encompasses more than 150 acres within the two municipalities. Bluewater’s proposal includes hundreds of millions of dollars’ worth of investments in a state-of-the-art warehouse and distribution facility, which could yield substantial tax revenue for the municipalities.
“This project, if approved, has tremendous upside for Waterbury, Naugatuck, and residents throughout the region,” Lamont said. “This has the potential to create up to a thousand new jobs and go a long way in supporting these communities in their broader revitalization efforts. We are seeing real momentum in our state as more and more companies are choosing to invest and grow here. My administration will continue working closely with communities to capitalize on vital economic opportunities like this. I thank Mayor O’Leary and Mayor Hess for their collaboration on this project and look forward to seeing it develop.”
“I am proud of the collaborative work done here by the state, the city, the borough, and the Naugatuck Valley Regional Development Corporation,” O’Leary said. “Much work is left to be done, but this could be an amazing win for our region and the entire state.”
“We are all extremely excited about our joint project with Bluewater Property Group, and its prospective tenant, Amazon, and the many benefits to both municipalities,” Hess said. “Working together we are stronger, and the Waterbury/Naugatuck partnership will continue to yield benefits to the entire valley. We are Valley Strong.”
Bluewater Property Group was formed by a team of industrial real estate practitioners with a focus on identifying and capitalizing on unique investment opportunities and advisory situations within the U.S. industrial marketplace.
Lamont’s office said Bluewater principals have extensive experience leading public, private, and entrepreneurial entities focused on the domestic logistics sector and have, as part of a larger team of professionals, successfully developed, acquired, managed, and sold in excess of $10 billion of value and 130 million square feet of industrial assets over the past 30 years.
The governor and mayors were joined by Lt. Governor Susan Bysiewicz, Rep. Jahana Hayes, State Sen. Joan Hartley, State Sen. Jorge Cabrera, and other state and local officials for the announcement.
The proposed project will be subject to various approvals at both the state and local levels with several opportunities for the public to weigh in.
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