The Mayor’s Office announced in a press release the City of Bristol has been recognized as the “Best Small City for Doing Business in Greater Hartford” by WalletHub.com, a personal finance website that provides ratings of various metrics.
As reported in the Hartford Business Journal, the release said, WalletHub identified the most business-friendly places in the state, and Bristol ranked high among smaller cities with a population of 25,000 to 100,000.
“We’ve known for quite a while that Bristol is an attractive place for companies to locate their businesses,” Cockayne said, according to the press release. “But this new survey confirms it. We really are the best place for start-ups, expansions, and businesses looking for new homes.”
Included among the criteria analyzed in the WalletHub survey are office space affordability, the presence of investors, and the growth in small businesses. Other factors include employee availability and the number of startups per capita. The national survey included thousands of communities.
“Bristol has a long history of economic diversity and ingenuity,” said Justin Malley, director of the Bristol Development Authority, the press release from the mayor’s office said. “We are pleased that more businesses and entrepreneurs are realizing what Bristol has to offer in terms of building opportunities, incentives to locate here, and other positive attributes of our community. These include quality schools, a strong workforce, favorable mill rate, and the diverse housing stock that is attractive to working families. This is a very strong community that businesses realize is a great place to make an investment.”
Recent sales in the Southeast Bristol Business Park support the news about Bristol, according to the press release. Within the past month, the release said, the city has sold Lot 1 and Lot 5, bringing in $865,040 in sales revenue. Lot 1 will feature a 128,000 square-foot storage and distribution center for PODS, and Lot 5 will feature a new 13,000 square-foot manufacturing facility. In addition, on Lot 4 high-tech manufacturer GMN USA has officially started operating out of its showcase 30,000 square foot facility.
In addition to construction in the business park, the release said longtime retailers Bob’s Sport Chalet and Super Natural are undertaking major expansion projects in Bristol. Bob’s will move from its longtime home near Farmington Avenue to a brand new facility on Pine Street that can accommodate the company’s growth. Popular eatery Super Natural is expanding its operation by purchasing and renovating 224 North Main St.
“We’re proud to support existing businesses in town that are making the move to new locations in order to expand and grow,” Cockayne said, according to the press release. “Super Natural and Bob’s Sports Chalet are great examples of longtime, family-owned businesses that have outgrown their spaces yet are committed to expanding in the community that has supported them for decades.”
Bristol’s housing market, while still lagging behind historic highs of 10 years ago, is bouncing back, said the release from the mayor’s office. Bristol’s homes sales have steadily increased, with the spring selling season off to a blistering pace, according to Scott Bayne of Century 21 Bay-Mar Realty, Inc. at 765 Farmington Ave.
“We’ve seen alot of activity, with prices holding steady,” Bayne noted, the news. “Sellers are consistently getting market value for their homes, very rarely having to adjust their asking prices below market value.”
The Hartford Business Journal article reporting the ranking can be found here: http://www.hartfordbusiness.com/apps/pbcs.dll/article?AID=/20160418/NEWS01/160419935&template=printart
The WalletHub.com survey is found here:
https://wallethub.com/edu/best-small-cities-to-start-a-business/20180/#methodology
