When I was a munchkin scribe at the Bridgeport Post-Telegram, predecessor to the CT Post, reporters were transported to the third-floor newsroom via elevator. Invariably when you asked the guy at the controls how he was doing he had a stock answer: “Lots of ups and downs, ups and downs.” Governor Dannel Malloy is scheduled to visit the Park City today to join Mayor Bill Finch during this Columbus Day weekend to celebrate the relocation of the Columbia Elevator Company to the East Side. Let’s hope the Park City discovers lots of ups and loads of visits from Malloy the next few years. From Mayor Finch:
Governor Malloy and Mayor Finch, and local dignitaries to celebrate Columbia Elevator Co.’s relocation to Bridgeport
WHAT: State and local dignitaries, including Governor Dannel Malloy and Mayor Bill Finch will join Lou Blaiotta Sr. and LJ. Blaiotta Jr. to celebrate the relocation of Columbia Elevator Co., a manufacturer of elevator entrances, doors and cabs, from New York to its new home in Bridgeport during an event on Friday, Oct. 7 at 2 p.m. Columbia Elevator recently received a $2 million grant from the state DEEP for brownfield remediation at the site.
WHO: Governor Dannel Malloy, Bridgeport Mayor Bill Finch, Lou Blaiotta Sr. and Louis J. Blaiotta Jr., owners, Columbia Elevator; Paul Timpanelli, President and CEO, BRBC; City Council Representative Robert Curwen and Richard Paoletto, D-138 and staff and Blaiotta family members.
WHERE: 380 Horace St., Bridgeport CT
WHEN: 2 p.m., Friday, October 7
Background: Columbia Elevator, a multi-generational enterprise which manufactures elevator entrances, doors and cabs, is undergoing an expansion to increase capacity to support added sales and its client base. The company, which was previously based in Port Chester, N.Y., approached state and city officials nearly three years ago for assistance in relocating their facility from New York to Bridgeport to accommodate the company’s increasing sales, equipment needs and inventory requirements.
During the last three years, the company has invested $250,000 in environmental testing for a Remediation Action Plan to be approved by the DEP and the EPA. The company recently was awarded a $2 million dollar grant from DEEP for remediation on the 380 Horace Street site. The total capital investment will be nearly $9 million in land, buildings, improvements and equipment. The move will create 100 jobs in Bridgeport over the next 3-5 years.
The City of Bridgeport assisted Columbia Elevator with site selection, and provided environmental reports that City had previously commissioned. The City has also pledged up to $500,000 in U.S. EPA loan funding to address potential future environmental remediation cost overruns.
In addition, the company will receive a 5-year City property tax abatement through the state-sponsored Urban Enterprise Zone Program.
Call me Mr. Negativity but somehow the taxpayers will end up getting the shaft!!!
This is terrific news! 100 jobs. I am certain Lavernoich and Nidoh were instrumental in making this happen. Congratulations to the Finch administration. 100 jobs and land improvements are what we need. Kudos to all involved!
How many jobs will come from the Bridgeport population? Probably about 50 … don’t forget Columbia Elevator has upper administration and supervisors at the manufacturing level who will be moving to Bridgeport.
This is very good news. It has been in the works for over four years. The company was based in Port Chester NY. It took the State of CT a very long time to put the item on the bond commission agenda. Governor Malloy is working hard to expedite the state decisions. Many companies are not as patient as this one. Bravo to OPED for sticking with this company through thick and thin. I’m hoping the State will sign the closing documents soon so Bullshead Market will be able to locate downtown in the Arcade. It will be a deli-type grocery store with fresh produce and meats the downtown residents need.
Come downtown tomorrow before 3pm. Huge antique car show at McLevy to benefit the Police and Firefighters fund.
Non capisco? My property tax benefits the police and firefighters … no? Why do we have to have a function to supplement this?
I’m pretty sure your West Haven taxes didn’t pay for Bridgeport cops.
yahooy,
Sorry, didn’t mean to confuse. Tomorrow’s antique car show downtown at McLevy Park is a charity event. Proceeds from the entry fees for the great cars that will be on display will benefit the charitable fund that has been set up for our fallen heroes. Come on down. The cars will be spectacular!
Great! I’ll be there with a donation.
If you need a ride, I have friends in West Haven.
That’s BS. Downtowner has no friends in West Haven, West Hell or any points east of Eden.
So countdown,
This company has waited for years for this to happen? Mustn’t be much of an expansion if they can wait this long to relocate.
I hear Lennie is waiting on “Mo” hand and foot 🙂
Off Topic/Relating to Black Rock Bank and Trust building:
Can someone explain to me the details of the parking lot being a “city bonded” property? What does that mean as far as a future tenant is concerned?
Have not seen that. Where did you read that? Thank you, Bridgeport Rising.
I was speaking to someone in the neighborhood and he said the parking lot was similar to the lot behind Ash Creek Saloon and it might be a problem. Phrase that was mentioned was “city bonded” and I am not familiar with the importance or relevance of that term. I do not know details, so hoping someone here does.
The lot by the side of Ash Creek is municipal property. The lots around the Black Rock Bank are municipal property. The corner of Fairfield and Brewster, to many people, seems the traffic center of the neighborhood. So parking is critical.
City bonded is a new phrase to me. When the City sells off land that is currently used as parking to a private party with no strings attached to future parking needs, and when they purchase, past or future, other land to be used as parking, an observer needs to be aware of what a “parking space” or its multiples costs the taxpayer.
Owning the space today at a higher cost per space than one is selling it for today is not good City business, although getting a developer to buy and transform the BRB&T site is great and an affirmation to the private developers of Black Rock properties in recent years the neighborhood is moving in a positive commercial direction.
Perhaps my Council persons will be able to explain “city bonded,” unless they are referring to the fact the property was acquired with money from a City bond originally? Now if that is the case and it was a 30-year bond, perhaps we will be repaying that original bond with interest for about 18-20 years more, while accepting one third in cash from a buyer. And what happens to that money? Does it reduce the outstanding debt of the bond? Or does half of it go into the City “undesignated, unrestricted fund balance” for a rainy day (or a deficit year)? In the latter case that is one way operating expenses can be funded by bonding. What a curious financial life we live as a City. But that’s no problem because everyone has a comprehensive understanding of what is occurring with their tax dollars, right? Time will tell.
13 words. Are you feeling alright?
Whatever’s necessary!
This is good news for Bridgeport. Perhaps this may help lift the spirit of the city. During the past primary campaign, we heard and saw things like the YouTube video with me and my cleaver. We heard a lot said about Bridgeport preachers. I’m not sure a Platinum Healing Glove will lift us from the abyss. Which way is up, Lennie?
www .youtube.com/watch?v=qjELvLgLlO8