BETA was retained by the Town of Putnam to undertake a Marketing and Feasibility Study of the proposed Quinebaug Regional Tech Park to be located in Putnam. The scope of services includes an in-depth Marketing Assessment of the potential development demand, as well as an engineering feasibility evaluation for the project.
Quinebaug Regional Tech Park is a proposal that dates back to 1999 and involves the potential development of some 200 acres adjacent to the Wheelabrator Ash Landfill on property now used in agricultural businesses. The proposed project was conceived to increase jobs and property tax base for the Town.
Work included a national and regional scan for comparable uses and land compatible for the project. Once potential market demands were verified, a build-out analysis and organizational plan for the project was evaluated. Study findings noted that the project was likely to be 10 to 15 years in the development process and that regional demand would support only one such facility. It was further found that no other sites were readily available within Northeastern Connecticut which presented the resources that the Putnam site possessed.
The work product included identification of the optimal development plan and recommended a regional approach given the demographics of the project and limitation on site development. As part of the project, a Regional Economic Development District was envisioned, to be granted legislative authority to implement the project using innovative financing and development means. The project team assisted the Town in supporting the concept with State Agencies and Legislators.
A summary report was developed and public outreach program conducted to explain the project to neighboring communities and the North East Council of Governments. Coordination was held with DECD and others who would be likely involved in project development approvals.