Wallace Releases 5-Point Economic Development Plan

On a telephone conference call Monday morning, First Selectman candidate Veronica Wallace released her 5-Point Economic Development Plan she has entitled "Get Guilford Going."

"I've been knocking on doors and these issues that I outline in my plan are the issues on resident's minds," Wallace said. "Middle-class families and small businesses are hurting and jobs and the economy are a concern. Our Grand List is flat and we ought to be doing so much more to get the economy going at a local level."

“Four years ago, my opponent campaigned and was elected on a platform to revive economic development in town," Wallace continued. "This issue, as it relates to jobs and the local economy, remains the issue of this year’s campaign and it’s up to the voters to decide whether the First Selectman has kept his promises or whether it’s time, as I believe it is, to put forward a new plan to Get Guilford Going again."

1. Market Guilford

Guilford cannot afford to sit back and hope business comes to us – Guilford has to go to them. As First Selectman, Wallace promises to make Guilford’s Economic Development Coordinator a full-time position. In a Wallace administration, both the First Selectman and Guilford’s first full-time economic development coordinator will make it a priority to outreach to businesses that would be a good fit for maintaining the character of Guilford. Part of this strategy will also be a renewed emphasis on promoting Guilford as a destination point in the statewide effort to increase tourism.

2. Incentivize Growth

In this sluggish economy, Guilford needs a proactive economic development strategy when it comes to creating new businesses or recruiting businesses willing to relocate to town. Wallace will explore offering short-term business tax incentives tied to job creation in order to remain competitive with neighboring towns that are already luring businesses with financial incentives. These short-term investments will provide long-term jobs and property tax relief in addition to sending a message that Guilford is a business-friendly community.

3.  Develop Housing That Is More Affordable

According to a study conducted by the Partnership for Strong Communities, only 2.12% of housing in Guilford is considered affordable. Young people who grew up in town can’t afford to live here and seniors wanting to downsize can’t afford to stay. Worse, the study also estimates that the school- age population in Guilford will decline by nearly 30% by 2025. If Guilford doesn’t get serious about creating housing that is more affordable to working families the property tax burden on our existing residents will continue to get worse and worse. As First Selectman, Wallace will seek funding through the state’s HOMEConnecticut program to help assess our options and then work with community leaders to develop new, affordable housing for Guilford’s next generation.

4. Improve Our Infrastructure

One of the most glaring lessons in the aftermath of storms Irene and Sandy was that our infrastructure is in desperate need of improvement. As First Selectman, Wallace will establish a Capital Projects Fund that will be used towards infrastructure projects like much-needed aid to our roads, community spaces, and schools. This work, in addition to our brand new high school, will not only enhance our community but will also make our town more attractive to new residents and businesses looking to relocate to Guilford. Wallace is also committed to bringing the latest in technology to Guilford’s infrastructure, further enhancing our attraction to businesses.

5. Develop Our 10-Year Plan

To market ourselves effectively, we have to recognize our strengths and weaknesses as a town. Leveraging our assets is our key to future prosperity. Within her first month in office, Wallace will consult with town leaders, both public and private,  to begin formulating a plan of where we want Guilford to be in ten years. What needs to change? Where can we build responsibly? How can we help businesses affected by rising sea levels?  Wallace is fully committed to ensuring this planning effort will be transparent and open to every interested person in our community.