Longtime Hamden Business Makes Reinvestment Deal With Town

HAMDEN, CT — A longtime Hamden business has reached a tax-incentive agreement with the town in which it plans to reinvest in the site and create additional jobs, according to officials. The Legislative Council recently approved the agreement with Rainbow Cleaners, located at 1540 Dixwell Avenue, which has been a Hamden establishment for 70 years.

As part of the agreement, the owner will invest $300,000 for the rehabilitation of the business. In consideration of their plans to invest in and improve the site, the town has approved a 30-percent waiver of additional property taxes (incurred due to the increased value of the building) for a period of three years and an additional 50-percent waiver of Building Permit fees, according to a press release. The Economic Development Commission recommended the benefits for approval to the Legislative Council.

“This is a long time Hamden business reinvesting in our community,” Mayor Curt Balzano Leng said in a statement. “Rainbow Cleaners plans to create additional jobs over the next three years as a result of this investment, and the town ought to support these efforts. Hamden’s tax incentives help to strengthen the town’s business base and maintain our business friendly message, which in turn allows us to compete in expanding and rehabilitating our local commercial and industrial businesses."

To sign up for Hamden breaking news alerts and more, click here.

Image via Shutterstock