Dynamic Danbury

January 14, 2008; As originally appeared in the Fairfield County Business Journal

In Danbury’s economic development for the near future there is cultural expansion, continued movement at the Danbury Fair Mall, growth in pharmaceuticals and a variety of new neighbors bringing in new markets.

“Obviously we want to continue to maintain the lowest unemployment rate in the state and we have considerable amount of private investment coming into the state,” said Mayor Mark D. Boughton. “Mannkind Pharmaceutical will be providing the area with a significant amount of manufacturing jobs in this coming year. We also have a significant amount of housing sites, with a vibrant and active downtown. We will be appointing a task force to develop a strategy plan for downtown Main Street; we want to make sure that what any one mayor does in the future marries well with what’s already in place.”

“Our pharmaceutical sector looks as if it will continue to expand adding employees and facilities,” said Stephen A. Bull, president of the Greater Danbury Chamber of Commerce. “We also can expect to see a decision made about the Marcus Dairy Shopping Center, which will allow for restaurant and retail expansion in that area.”

A condition placed on the Environmental Impact Commission's approval of the Shops at Marcus retail center has delayed the project for several months.

“Marcus Dairy has been an icon for the city,” said Mayor Boughton. “They’ve got a plan in place that’s going to enhance that particular area”

“In terms of some of the other sectors, we’re hoping that some the sub-prime mortgages don’t have so much of effect on us,” said Bull. “Danbury has been always shielded because of the diverse business base and has realized that to be dependent on any single industry leaves you open to some terrible fate.”

Andrea Gartner, manager of CityCenter Danbury, puts emphasis on the development of a distinct culture in Danbury. The city is an advocate for the Connecticut Film Festival in August, as well as having a two-year commitment to the states Olympic style Nutmeg Games, and a third-year option. According to Gartner, the city last year coordinated 30 outdoor concerts and events in downtown, working with local organizations, and plans to expand on this number.

“I think what’s in store for Danbury is better attitudes toward downtown,” said Gartner. “I don’t think that the downtown of Danbury has the negative connotation it used to have. With the commitment by the mayor last year to develop the area, downtown has become a larger project, and positioned Danbury in regional sense with private stakeholders. We’re working better with other groups to revitalize the area, working with businesses, the university, developers and property owners.”

Wayne Shepperd, Director of the Danbury Office of Economic Development pointed to a variety of new businesses in Danbury that he believes will only continue to branch into continued development.

Among new businesses and developments Shepperd noted for joining the Danbury community in 2007 and looking to firmly establish themselves in 2008 were: the Saturn car dealership on Feral Road; Fairfield County Bank’s first branch in Danbury; Jetera, a precision media company that moved its headquarters to Danbury; Danbury Hospital’s new Medical Arts Center; Western Connecticut State University’s Westside Student Center; Danbury Fair Mall’s completion of an extensive interior renovation; Mannkind Pharmaceutical continuing with its 117,000-square-foot construction; BRT opened Brookview Commons on Crosby Street, a 100-unit apartment complex; the city opened its 400-space Bardo Parking Garage; Immaculate High School opened "Mustang Valley," its synthetic sports complex; Boehringer Ingelheim Corp. began work on its 86,000-square-foot physical sciences building; Henry Abbott Regional Technical School is undergoing extensive renovation; and Biodel, a specialty biopharmaceutical company, relocated its headquarters to a new Danbury facility. Construction of the new Danbury Police Station on Main Street is underway.

Professionals in Danbury’s housing market are positive about the potential of Danbury to continue the growth of previous years.

“We have seen steady and increasing growth in our program and services in Danbury region,” said Joan Carty president and CEO of the Danbury Housing Development Fund. “In the last year we have doubled the number of impact from previous year and are hoping to do that again this year. We see steady growth in the area and have a million dollar work force housing fund; there’s just tremendous opportunity in Danbury.”

Though Carty emphasized the housing markets interest in continued progress and growth, the effects of the subprime mortgage crunch on the market were evident in the modifications and preparations of the development fund for 2008. Shepperd also made it clear that this year will be difficult because of the slowdown in the housing market.

“We are very mindful of the negative implications of subprime lending, but it has not affected any of our clients because we guide them toward 30 year conventional loans,” said Carty. “Though we’re developing an anti-predatory lending system and bringing a specialty advisor on staff.”

“Danbury remains above the 10 percent threshold, and we have plenty of housing stock for residence, there’s certainly a lot of opportunity here in Danbury,” said Boughton.