Economic Impact Of Madison Beach Hotel

Editor's note: This is a report from the Madison Economic Development Commission

Economic Impact Evaluated of Madison Beach Hotel

June 19, 2012

The Town of Madison’s Economic Development Commission held its monthly meeting at the Madison Beach Hotel on June 14 in an effort to determine the economic impact the hotel property will have on Madison. The Madison Beach Hotel is the town’s # 2 taxpayer.

General Manager John Mathers and hotel owner Ric Duques presented to the commission during the public comment portion of the meeting. Once the meeting was adjourned commissioners had a full tour of the property.
Prior to the meeting the EDC requested several pieces of economic data be presented. Mr. Mathers presented the following data to the commission:

1. Personal property taxes paid annually to the Town of Madison: $183,054.40

2. Expected hotel occupancy tax collected for State of Connecticut in 2012: $165,000

3. Number of jobs created: 60-90 depending on season (majority are Madison residents)

4. Amount paid to Town of Madison in permitting and application fees: About $200,000

5. Sample of area businesses regularly supported by the hotel:

a. Cohen’s Bagels, Madison

b. Madison Farmer’s Market

c. Howard Service Company (vacuums, bags, service), Madison

d. John’s Refuse and Recycling

e. Grove Gardens Florist

f. Grove Gardens Landscaping

g. Bishop’s Orchard Farm Market

h. Absolute Best Cleaning (carpets and flooring), Madison

i. Spot-Lite Cleaners, Madison

j. Shoreline Security, Guilford

k. Longhini Sausage, East Haven

l. Gilberti’s Certified Organic Farm, Easton

The EDC has initiated an effort to visit and highlight businesses in Madison that represent the town’s economic eco-system throughout the rest of 2012.
For more information on the Town of Madison’s Economic Development Commission, visit www.MadisonEDC.com or contact Chairman Ryan Duques at 203.779.0331

Editor's note: Ryan Duques is related to Ric Duques, but has no financial ties to the hotel. The report was released by the entire commission. Commission members include Mark Casparino, Hank Yaggi, Anne Foley, James Ball, Edward Pellegrino, Michael Skonieczny.