EDC Endorses Tax Break For Business Expansion

By Andrew Gorosko

The Economic Development Commission (EDC) has endorsed a local firm’s pursuit of a town property tax break that would provide an incentive to it to construct a new corporate headquarters at Curtis Corporate Park in Sandy Hook.

At an August 15 session, EDC members unanimously endorsed TnT Partners, LLC’s, application to the town’s Business Incentive Program for tax breaks that the town offers as an incentive for local economic development.

Endorsing that application were EDC Chairman Chet Hopper, Robert Rau, Tom Long, Theodore Kreinik, Brian Aumueller, Bruce Walczak, and Kim Danziger.

At the EDC’s July session, Michael Bodetti, founder, president, and chief executive officer of TnT, told EDC members that TnT is planning to expand operations and is considering constructing a new headquarters building at Curtis Corporate Park on Turnberry Lane, off Toddy Hill Road.

The firm, which is now located in a 7,500-square-foot building at 13 Berkshire Road, is considering constructing a new 29,000-square-foot building.

The company, which employs 59 people, is in the business of telecommunications expense management. The firm performs computer analyses of its clients’ telecommunications bills to find ways to cut operating costs.

The tax breaks that the firm is seeking could provide the company with as much as a 50 percent property tax reduction for each of three fiscal years.

Mr Hopper is expected to inform the Board of Selectmen that the EDC endorses TnT’s application for property tax breaks.

Besides seeking tax breaks, TnT had approached the EDC seeking assurances that the town’s land use review process of the company’s expansion project would not be too lengthy.

Mr Hopper has said that the EDC would work to aid TnT with its expansion plans.

The EDC is an advisory panel that guides and promotes local economic development, including the expansion of the municipal property tax base and the creation of jobs.

The Board of Selectmen, Board of Finance, and Legislative Council would review TnT’s tax break application. The Inland Wetlands Commission and the Planning and Zoning Commission would review the land use aspects of a construction project.