Oxford Continues To Thrive While State Struggles Financially

OXFORD, CT — “Despite the State of Connecticut’s economic situation, Oxford continues to grow”, says First Selectman George Temple said in a statement to the local news media.

Moody’s Investors Service has affirmed that Oxford has a Aa2 rating. Oxford benefits from a strong economic position due in part to sizeable payment in lieu of taxes. The town’s tax base is stable and the fixed cost and long term liabilities are manageable, according to the report.

Here is the rest of the news release via the town:

The Town of Oxford is pleased to announce that according to an article, Assessing Municipal Fiscal Health in Connecticut from the Yankee Institute for Public Policy, Oxford received a rating of 88%, which is the highest rating amongst its surrounding towns.

Yankee Institute analysis assigned fiscal scores to Connecticut municipalities based on general fund balances, long term obligations, actuarially determined pension contributions, property values, unemployment rates. A score of 70 or above is considered healthy, scores between 50 and 70 are marginal and below 50 are in severe fiscal distress.

Oxford’s Economic Development Director, Andy McGeever, reports that according to an article in the Connecticut Small Business Development Center, Oxford Ranks 5th out of 9 small growth communities in the state and was listed as one of the top 500 best in the nation to start a small business. The communities were ranked based on the following criteria: Population score, Income Score and Expense Score.

“I am very pleased with the economic news, stated First Selectman George Temple. “It shows Oxford is pointed in the right direction and is thriving despite the state’s economic climate”.