Representative Town Meeting Budget and Special Meeting - DAY 3 (linked)

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: TOWN OF WATERFORD.
FY2024 BUDGET REQUEST
"DEPARTMENT: Economic Development Commission
BUDGET FUNCTION
The Economic Development Commission’s purpose is to support and grow Waterford’s economy. The
Commission is empowered by Town Ordinance and State Statutes to serve as a platform to coordinate
activities and groups that work in support of economic development. Broad responsibilities the
Commission may undertake include market analysis, business recruitment and retention, marketing the
Town, and recommending actions that Town can take to meet its development goals.
The proposed FY24 EDC budget reflects an approximate 1.4 % increase over FY23. The Commission
voted to continue to ensure that it has the resources to better support Waterford’s economic
development efforts. Key elements of the budget request include the need for specialized professional
services, effective marketing, and targeted networking.
MEMBERS
Edward Lusher, Chair
Lesley Sollima
Guy Russo
Edward Aledia
Greg Attanasio
ALTERNATES
Julie Greco
Cathryn Gonyo

BUDGET SUMMARY
SERVICES:
10113-52010-101-010-13-00-52 ADVERTISING
90113-52020-101-010-13-00-52 POSTAGE
40113-52030-101-010-13-00-52 PROFESSIONAL FEES
10113-52050-101-010-13-00-82 DUES,CONFERENCES & EDUCAT
10113-52060-101-010-13-00-52 PRINTING
10113-62070-101-040-13-00-62 REIMBURSABLE EXPENSES.
Total SERVICES
Economic Developmnent Commission
FY¥2024 Proposed
$500}
80}
$15,000,
$12,046}
$200]
s100f.
$27,846
Advertising Line 10113-52010
$500 Requested
The EDC will advertise via print, digital, and social media platforms. Projects such as the
upcoming small business grants, creation of an economic development strategy for the Town,
and marketing to attract businesses and residents would be paid from this line.

_ TOWN OF WATERFORD
_ FY2024 BUDGET REQUEST
‘DEPARTMENT: Economic Development Commission
Professional Fees Line 10113-52030
$15,000 Requested
In FY23, the EDC received funds to hire a consultant to assist the Commission in drafting an economic
development strategy. At the time this budget was created, the EDC was beginning work on this effort. The
strategy will include goals and actions necessary to support economic growth in Waterford and outline the
Commission’s action plan for upcoming years. It is anticipated that implementation efforts will include the
need to hire professionals on a limited basis. Examples of projects for which funding needs are anticipated
are graphic design for branding and marketing materials, updates to the Town’s promotional video, and two
meetings with the Strategy consultant to review the Commission’s progress.
Dues, Conferences and Education Line 10113-52050
$12,046 Requested
The EDC maintains membership with the Southeastern CT Enterprise Region (SeCTer) for the Town. SeCTer
provides access to regional economic data and project support. The Commission also maintains memberships
with professional organizations for the purposes of implementing and maintaining effective economic
development programs. Members attend educational and networking events whenever possible.
Southeastern CT Enterprise Region (S@CTEL)..........scecsssesssecnesereereesansnsnseseeessssenesssertsensararaneetens $ 8,807
SeCTer provides the Town with regional business information, regional promotion, and
educational resources. SeCTer has increased their annual dues at from $0.35 per capita, to
$0.45 per capita. They have also adjusted the Town's fees to reflect the population increase in
the 2020 Census.
Chamber of Commerce of Southeastern CT oo... cssesssssssssseressereresssseneseneserenesseactnenerasennnsrers S$ 220
Promotes focal networking, facilitates communication & collaboration
CT Economic Development Association (CEDAS) .....ssersssscsssstsertsecsssnersssnsesesenensontsenteanseaeatees S$ 150
Economic development expertise, educational seminars & forums
Business meeting expenses, including shared costs of facilities and admission costs for economic
events, meetings and seminars... $ 400
Innovative Commerce Serving Communities (ICSC) Conference Attendances....scesssenrerrerees $2,470
Reduced at BOF by $400 = $2070
ICSC (formerly the International Council of Shopping Centers) is a member organization
supporting retail, dining, entertainment, and other marketplace industries. The organization
provides industry insights and networking opportunities to support development initiatives. The
Economic Development Commission recommends that two representatives from Waterford be
funded to attend the annual conference in Boston in July of 2023 to make connections and

promote commercial development opportunities i in n Waterford to industry leaders. The !
proposed budget includes travel, hotel, and registration costs for one conference attendee as
follows: $829 $1800(registration - 900*2 participarits}-$600-(#ight},-$4,050-flight} $270
(travel).
Printing Line 10113-52060
$200 Requested
This tine will cover the cost of materials related to Economic Development Strategy implementation, such
as drafts of graphic designs or similar items that will require Commission review.
Reimbursable Expenses Line 10113-52070
$100 Requested
EDC members on occasion pay out of pocket for expenses associated with travel to seminars and business
meetings. This line item provides for the reimbursement of funds expended by EDC members in providing
services to the Town.

TOWN OF WATERFORD
: FY2024 BUDGET REQUEST
DEPARTMENT: Economic Development Commission

JOBS@@a@
Economic Overview

Demographic Profile .ccccccccssssssssssensscsesesssssssssnssscssssssssssavsuvassevecssssensuasssenesenssssususseessssasssvasessesserssneasssssessessesnassuvasaeseesectees 3
Employment Trends..........cssccsseeesssesseesrereeses sesssssesnnstsnnsegassensennssesnsssenssesunesstvngapvestevanesenneesenansetansenansseneneennsses 5
WABE THONGS cscecesscssssssssssssessersosesssssansansssvsssesesesenees seeucenensnevevarasecvsnsassevsvacstsasenenenessesaeasessuestansneassneatseusrsnnsssesurecsesaeaenavevars 6
Cost of Living INd@X...... cee eesssssssssseesessssstecsscnsssvestssssesesarsnesasesussssestensesssecsusassuassssssssessussussssesusszsnveserseceuesueenveaesaesavarsesersase 7
Industry Snapshot
Occupation Snapshot..
Industry Clusters .......sssssssssssssecssecsssssesssersvecuecesessusensessasssussssecsscsnerseseasesvcessssuseansssucssussessavessneessusavesassanecasvesssenvensvensseraees 12
Education Levels «0.0... s.sesssesssssssstestssseseeseescarscatssssseseveeseenees Vassaaneavensuesenesenensesasoseevessnessavouseaseoessenenssesugsenenesessansceesesaseeaee® 13
Waterford CT Regional Map sneeuasesevecnnseneneceseeseatrnsstseanenenevensnsevsenenavansssasavevsusssussesonsnsesoseensssensernsssaravensersenenesnsaereesreratanensee 14
Region DeFiNItiON vou... escesesssssenscensscseonsessenessseesensonssssessestasevavevevensussesvaevesansnssesssessancassreuearassgsasavevenssersceveseacacazsssavsssees 15
j
i)
Source: JobsEQ®, http://www.chmuraecon.com/jabseq =e : 2
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved.
JOBSED

Demographic Profile
_ The population in the Waterford CT was 18,917 per American Community Survey data for 2016-2020.
“The region has a civilian labor force of 10,473 with a participation rate of 66.2%. Of individuals 25 to 64 in the
Waterford CT, 42.9% have a bachelor’s degree or higher which compares with 34.3% in the nation.
The median household income in the Waterford CT is $90,678 and the median house value is $255,006.
Source: JobsEO®, http://www.chrauraecon.com/jobseq
Copyright © 2023 Chraura Economics & Analytics, All Rights Reserved,
Summary?
Percent Value
Waterford CT Connecticut USA Waterford CT Connecticut USA
Demographics
Population (ACS} - _ _ 18,917 3,570,549 326,569,308
Male 48.6% 48.8% 49.2% 9,190 1,744,688 160,818,530
Female 51.4% 31.2% 50.8% 9,727 1,828,861 165,750,778
Median Age? - _ - 48.3 441 38.2
Under 18 Years 17.3% 20.6% 22.4% 3,282 735,584 73,296,738
18 to 24 Years 6.9% 9.7% 9.3% 1,309 345,760 30,435,736
25 to'34 Years 13.1% 12.4% 13.9% 2477 443,947 45,485,165
35 to 44 Years 10.1% 11.9% 12.7% 1,904 426,097 41,346,677
45 to 54 Years 14.5% 13.8% 12.7% 2,748 493,186 41,540,736
55 to 64 Years 16.1% 14.3%. 12.9% 3,043 510,539 42,104,439
65 to 74 Years 11.1% 9.7% 9.4% 2,106 345,407 30,547,950
75 Years and Over OO 10.8% ~ 7.6% 6.1% 2,048 ——=«270,059 «21,814,867
ace: White — 87.3% THI TOA 16,522 2,649,994 229,960,813
Black or African American 3.6% "10.7% © 12.6% 678 «382,561 «41,227,384
r merican Indian and Alaska Native 0.5% 0.3% 08% 92 “9,079 2,688,614
RaceAan 27% 4.6% 5.6% 518 "163,262 ‘18,421,637
ative Hawaiian and Other Pacific islander 0.0% 0.0% =——(0.2% 8 “yis9 «611,404
jome Other Race : “10% 5.4% 5.1% 191 —=S—«192,217 «16,783,914
Race: Two or More Races 4.8% 4.8% 5.2% 915 172,647 16,875,542
Hispanic or Latino (of any race} 5.5% 16.4% 18.2% 1,036 587,212 $9,361,020
Economic :
aioe Participation Rate and Size (civilian population 16 years 66.2% 65.9% 63.2% 10,473 4,923,759 164,759,496
ee Labor Force Participation Rate and Size (civilian population 88.1% 85.4% 82.4% 6,098 4,158,613 105,137,526
Armed Forces Labor Force 14% 0.3% 0.4% 220 9,386 1,143,342
Veterans, Age 18-64 7.3% 3.0% 4.5% 823 65,820 8,920,267
Veterans Labor Force Participation Rate and Size, Age 18-64 85.7% 81.9% 76.8% 705 53,894 6,853,673
Median Household Income? - od - $90,678 $79,855 $64,994
Per Capita Income _ _ - $44,905 $45,668 $35,384
Mean Commute Time (minutes) _ - - 20.9 26.7 26.9
Commute via Public Transportation 0.3% 44% 4.6% 34 77 433 7,044,886
Educational Attainment, Age 25-64
No High Schaol Diploma 2.7% 7.7% 10.5% 270 144,196 17,929,220
High School Graduate 25.8% 25.0% 25.4% 2,628 468,610 43,289,555
Some College, No Degree 20.6% 17.3% 20.5% 2,160 323,625 34,959,338
8.0% 8.0% 9.3% 809 149,788 15,776,790
23.4% 2% 21.6% "2,379 453,421 36,888,244
Postgraduate Degree ~ 19.5% 17.8% 42.7% 1,986 “334,099 21,630,870
Housing
© Total Housing Units - - 8,587 4,521,199 138,432,751
Jossea@

Summary?
Percent Value
Waterford or Connecticut USA Waterford CT Connecticut Usa
Median House Value {of owner-t occupied units)? $255,006 $279,700 - $229,800 800°
Homeowner Vacancy 65 14,409 1,129,755 .
Rental Vacancy 93 27,938 2,704,553
nter-Occupied Housing Units eof F Occupied Units) "20.38% "335% ~*~ S*~*~*~C*«~<siSSSS*«TOQSSC*«C SB
Oko Housing Uns with No’ Vehicle ‘Available (% of Occupied oo “Las —— ax ~ as% TM 350 uaass | ioaaa.sot
Social °
Poverty Level (of all people) 12.8% 1,226 329,156 40,920,326
Households Recelving Food Stamps/SNAP 12.4% 683 160,438 13,892,407
Enrolled in Grade 12 (% of total population) 1.3% 287 51,722 4,358,865
Disconnected Youth? 2.5% o 2,817 433,164
Children in Single Parent Families (% ofall children) 34.0% 900 235,820 ‘23 628,508
Uninsured ~ “Tam a0 479,086 28,058,903
with 1a Disabllity, Age 18:
18-64
With a Disability, Age
Age | 1B 64, Labor | Farce ce Participation RaRate: and Sk
A 425,628
© 275426 25,312,024
Source: JobsEO®
1. Amerlcan Community Survey 2016-2020, untess noted otherwise
2. Median values for certaln aggregate regions (such as MSAs} may be estimated as the weighted averages of the median values from the composing counties,
3, Disconnected Youth are 16-19 year olds who are (1) not In school, (2) not blgh school graduates, and (3) elther unemployed or not in the labor force.
4. Census Population Estimate for 2020, annua) average growth rate since 2010.
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved. Jonsea
4

Employment Trends
As of 2022Q2, total employment for the Waterford CT was 10,715 (based on a four-quarter moving average). Over
- the year ending 2022Q2, employment increased 1.5% in the region.
Employment for Waterford CT
10.0%
0.0%
-10.0%
oBy sea, 2 Wooly aBueyD %
eecee settee seseeygeseonese Seen . . 20.0%
201293 201393 201403 201593 201603 201703 201803 201993 202003 2021Q3
Waterford CT (1.5%) -Connecticut (3.6%) —USA (4.4%)
Soulce: JobsEGS. Data as Of 202202, The dhaded ateas of the staph represent nations ecessions,
Employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are updated through 202201
with preliminary estimates updated to 202202.
Source: JobsEQ®, hitp://www.chmuraecon.com/jobseq os 5
Copyright © 2023 Chraura Economics & Analytics, All Rights Reserved. jopse@

Wage Trends
The average worker in the Waterford CT earned annual wages of $65,164 as of 202202. Average annual wages per
worker increased 3.6% in the region over the preceding four quarters. For comparison purposes, annual average
wages were $67,777 in the nation as of 2022Q2.
Average Annual Wages for Waterford CT
10,0%
2.0%
oby sea, 2 woly abueyo %
201203 2033Q3 201493 201503 201603 201703 2018Q3 201903 202093 202193
* Waterford CT (3.6%) Connecticut (7.1%) —USA (6.7%)
‘Source: JobsEQ8, Data ar of 202202. The shaded weas of the graph raptexent nations! recessions.
Annual average wages per worker data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary. Data are
updated through 202201 with preliminary estimates updated to 202202.
Source: JobsEQ®, http://www.chmuraecon.com/jobseq =. 6
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved. : jJossea

Cost of Living Index
_ The Cost of Living Index estimates the relative price levels for consumer goods and services. When applied to wages
yand salaries, the result is a measure of relative purchasing power. The cost of living is 7.2% higher in Waterford CT
than the U.S. average.
Waterford CT
‘Connecticut
USA
Source: JobsEQ?
Data as of 202202
Cost of Living par COLL, data a5 oF 202203, imputed by Chmura where necessary.
Source: JobsEQ®, hitp:/Awww.chmuraecon.com/jobseq
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved.
Cost of Living Information
Cost of Living Index
Annual Average Salary (Base US) US Purchasing Power
: $65,164 107.2 $60,796
“$79,564 "116.0 "$68,573
$67,777 100.0 $67,777
=
1ObSEQ

Industry Snapshot
. The largest sector in the Waterford CT is Retail Trade, employing 2,672 workers. The next-largest sectors in the =.
region are Health Care and Social Assistance (1,782 workers) and Utilities (980). High location quotients (LQs) indicate
sectors in which a region has high concentrations of employment compared to the national average. The sectors with
the largest LQs in the region are Utilities (LQ = 18.01), Retail Trade (2.45), and Health Care and Social Assistance
(1.16), : : :
Total Workers for Waterford CT by Industry
Public Administration2.6%
Other Services (except Public Administration)3.0%
Accommodation and Food Services7.2% ~~
Arts, Entertainment, and Recreation1.5% “,
Agriculture, Forestry, Fishing and Hunting0.1%
Mining, Quarrying, and Oj! and Gas Extraction0.1%
Utilities9.1%
Construction6,3%
Manufacturing?.5%
a” Wholesale Trade2.6%
"Health Care and Social Assistance16.6%
Educational ServicesS.5% —~ P f Retail Trade24.9%
Administrative and Support and Waste Management and
Remediation Services3.9%
Management of Companies and Enterprises1.6%
Professional, Scientific, and Technical Services5.0%
Information?.5% Transportation and Warehousing4.7%
‘Source: JobREG@.Data ns of 207202
Employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics and imputed where necessary, Data are updated through 202201 with preliminary
estimates updated to 202202,
Sectors in the Waterford CT with the highest average wages per worker are Utilities ($198,042), Management of
Companies and Enterprises ($139,760), and Finance and Insurance ($99,764). Regional sectors with the best job
growth (or most moderate job losses) over the last 5 years are Administrative and Support and Waste Management
and Remediation Services (+34 jobs), Health Care and Social Assistance (+30), and Manufacturing (+26).
Over the next 1 year, employment in the Waterford CT is projected to contract by 115 jobs. The fastest growing
sector in the region is expected to be Arts, Entertainment, and Recreation with a +1.8% year-over-year rate of
growth. The strongest forecast by number of jobs over this period is expected for Accommodation and Food Services
(+7 jobs), Arts, Entertainment, and Recreation (+3), and information (+2). :
Source: JobsEQ®, http://www.chmuraecon.com/jobseq ee 8
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved. Joasea

Waterford CT, 2022Q2'
Current 5-Year History 1-Year Forecast
Avg Ann . Empl Total Empl Ann %
NAICS Industry Empt Wages LQ Change Ann % Demand Exits Transfers Growth Growth
44 Retail Trade 2,672 $33,317 2.45 -579 -3.8% 296 142 2412 57 -2.1%
62 __ Health Care and Social 1,782 $53,065 1.16 30 0.3% 170 % 93
Assistance .
22 Utilities 980 $298,042 18.01 -159 ~3.0% 31 29
7 Accommodation and Food 770 $27,841 0.86 -203 4.6% 134 53 74.
Services
23 Construction 672 $65,492 1.05 210 5.3% 56 20 aa 7 -1.1%
61 Educational Services 386 $55,664 0.69 1 0.0% 34 24 30 “1 -0.1%
54 Professional, Scientific, and 535 $96,303 0.68 5 0.2% 43 16 30 3 0.5%
Technical Services
ag Transportation and 506 $40,715 0.96 56 “21% 55 a 34 0 0.1%
Warehousing
Administrative and Support
56 and Waste Management 47 $44,836 0.60 34 17% 45 18 30 2 0.6%
and Remediation Services
‘Other Services {except
8 Public Administration) 325 $31,410 0.70 -79 -4,3% 36 a5 21 1 0.2%
42 Wholesale Trade 278 $92,857 0.70 ~44 -2.9% 26 10 ig 3 “1.2%
92 Public Administration 277 $78,755 0.55 oo 0.9% 22 4 1.3%
55 Management of Companies 171 $139,760 1.06 9 -4.0% 13 5 10 2 -13%
and Enterprises
34 Manufacturing 165 $77,645 0.19 26 3.5% 14 6 a -3 ~L7%
ni Arts, Entertainment, and 164 $29,543 0.82 81 1% 25 9 B 3 1.8%
Recreation
54 Information 163 $67,832 0.75 7 0.9% 48 5 40 2
52 Finance and Insurance 164 $99,764 2 0.3% 12 9 -2
53 _ Real Estate and Rental and 68 $55,045 0.36 0 0.1% 6 3 4 al
Leasing
Mining, Quarrying, and Oit . .
21 and Gas Extraction 10 $65,277 0.27 o 0.0% 1 0 1 0 1.0%
a1 Asticulture, Forestry, Fishing g $37,322 0.06 1 14% 4 0 1 0 “1.8%
and Hunting
99 Unclassified 2 $141,143 0.13 a 12.3% 0 0 0 0 0.6%
Total - All Industries 10,715 $65,164 1.00 -1327 2.3% 1,044 453 703 “415 -1.1%
Source: JobsEQ*
Data as of 2022Q2
Note: Figures may not sum due to rounding.
1. All data based upon a four-quarter moving average
Exits and transfers are approximate estimates based upon occupation separation rates,
Employment data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Stalistics and imputed where necessary. Data are updated through 202201
with preliminary estimates updated to 2022Q2, Forecast employment growth uses national projections adapted for regional growth palterns.
Source: JobsEQ®, http://www.chrauraecon.corn/jobseq as 8
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved. JoBsea

Occupation Snapshot
The largest major occupation group in the Waterford CT is Sales and Related Occupations, employing 1,752 workers.
The next-largest occupation groups in the region are Office and Administrative Support Occupations (1,147 workers)
and Transportation and Material Moving Occupations (1,026). High location quotients (LQs) indicate occupation
groups in which a region has high concentrations of employment compared to the national average. The major
’ groups with the largest LQs in the region are Sales and Related Occupations (LQ = 1.74), Life, Physical, and Social
Science Occupations (1.61), and Architecture and Engineering Occupations (1.60).
Occupation groups in the Waterford CT with the highest average wages per worker are Management Occupations
($119,300), Legal Occupations ($108,200), and Architecture and Engineering Occupations ($102,600). The
unemployment rate in the region varied among the major groups from 1.5% among Heaithcare Practitioners and
Technical Occupations to 10.7% among Personal Care and Service Occupations.
Over the next 1 year, the fastest growing occupation group in the Waterford CT is expected to be Personal Care and
Service Occupations with a +1.3% year-over-year rate of growth. The strongest forecast by number of jobs over this
period is expected for Food Preparation and Serving Related Occupations (+5 jobs) and Healthcare Support
Occupations (+4). Over the same period, the highest separation demand (occupation demand due to retirements and
workers moving from one occupation to another) is expected in Sales and Related Occupations (228 jobs) and ,
Transportation and Material Moving Occupations (131).
Waterford CT, 2622Q2+
Current 5-Year History : 1-Year Forecast .
. Mean Ann Unemp} Oniine Empt : Total Empl Ann %
soc Occupation Empl Wages? LQ. Unemp! Rate Job Ads? Change Ann% Demand Exits Transfers Growth Growth
4100000 Sales afd Related 1,752 $42,200 1.746388. 120 “S16 5.0% =. 194 B i35 -35 2.0%
Office and -
4300000 ministrative Support. M47 = «$47,700 087 SI 4g% 30 mm Bax 95 50 67 22 “2.0%
samooon Transportation and 2,026 $41,500 109 «45 8.0% 3 43 0.9% 122 51, 80 8 0.8%
Material Moving
asmoagp Fd Preparation and 734 $34,200 0.87 75 10.0% 45 230 «5.3% = 136 56 B 5 0.7%
Serving Related
310000 Healthcare Support 7OL «$36,800 148 = 225.5% 29 14 0.4% 95 46 45 4 0.6%
1110000 Management 686 $119,300 0.94 «= 22 2.9% 22 “2 0.5% a6. 45 a7 6 0.9%
zamoooo Healthcare Practitioners — 49, so54n0 079g 1.5% 64 53 2.3% 26 2 15 2 0.4%
and Technical .
470000 erection and 493 $62,200 1.00.28 6.8% 2 “163 -5.6% 39 “ 31 4 “1.2%
Business and Financial
1320000 434 «$81,500 0.63 «16 3.1% 18 25 1.2% 2 a 4 6 “1.8%
Operations ; .
zswoon0 Educational instruction — yay «sey. 600 076 © 22 3.3% 7 “a 0.5% 37 38 20 0 0.0%
and Library ;
Installation, .
4910000 Maintenance, and 419 «$59,600 1011. 4.0% 45 -60 2.7% 28 2 25 8° 19%
Repalr_ ee ke ee bee ee ae renee te ere ee ee ne ee
5100000 Production 379 «© «$55,900 0.63 «33 5.5% 6 “38 “1.9% 2 2 23 143.6%
Building and Grounds
3700000 Cieaning and 370 $37,400 «1.04 1B 1.2% 7 -10 0.5% 4 22 26 3 0.7%
Maintenance
3880000 Protective Service 314 $89,000 138 «= 24H 3B 2% SS 19
390000 Personal Care and 290 $36,600 122. 36 40.7% 18 5B 3.6% 45 18 23
Service
amano Architecture and 280 © $202,600 160 5 2.3% 20 66 AIM 5 5 rr lL 1%
Engineering .
Computer and
2500000 TP ernatica 29 $94,100 0624 2.0% v7 29 2.7% 15 5 ut 1 0.3%
2100000 Seniee andSociat 499 $61,500 1056+ 2.7% or 3 0.3% 2» 7 a 0 -0.1%
Source: jobsEa®, http://www.chmuraecon.com/jobseq 7 10
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved. jonsea

: soc Occupation
490000 life, Physical, and Social
Science
Arts, Design,
27@0000 Entertainment, Sports,
and Media
230000 Legal
Farming, Fishing, and
4520000 Forestry
Total - All Occupations
Source: JobsEQ*
Data as of 202202 unless noted otherwise
Note: Figures may not sum due to rounding.
Mean Ann
Empt Wages?
152 $83,500
139 $62,500
46 $108,200
7 $38,200
10,715 $60,100
Current
1Q.—-Unempt
L6é1 4
0.74 13
0.49 1
O14 1
1,00 496
1. Data based on a four-quarter moving average unless noted otherwise,
2. Wage data are as of 2021 and represent the average for all Covered Employment
3. Data represent found ontine ads active within the last thirty days in the selected region; data represents a sampling rather than the complete universe of postings. Ads lacking 2ip code information but designating &
place (city, town, etc.) may be assigned to the zip code with greatest employment in that place for queries in this analytic, Due to alternative county-assignment algorithms, ad counts in this analytic may not match
that shown in RTI (nor in the popup window ad fist).
Waterford CT, 2022Q2*
S-Year History
Unempt Online Empi
Rate Job Ads? Change = Ann %
3.2% 4 15 1.8%
7.4% 3 cS) +1,3%
0% nfa 1 0.3%
T.I% nfa a 18%
5.3% 489 4,327 +2,3%
Total
Demand
7
43
1,055
4-Year Forecast
Empl
Exits Transfers Growth
3 10 &
5 9 1
1 2 i]
9 a 9
469 704 115
Occupation employment data are estimated via industry employrnent data and the estimated industryfoccupation mix. Indusiry employment data are derived from the Quarierly Census of
Employment and Wages, provided by the Bureau of Labor Statistics and currently updated through 202201, imputed where necessary with preliminary estimates updated to 202202. Wages by
occupation are 2s of 2021 provided by the BLS and imputed where necessary. Forecast employment grovih uses national projections from ihe Bureau of Labor Statistics adapied for regional growth
pattems.
Source: JobsEQ®, http://www.chmuraecon.cor/jobseq
Copyright © 2023 Chrnura Economics & Analytics, All Rights Reserved.
oe
Ann %
Growth
3.9%
0.4%
-2.0%
1.6%
1.1%
11
Jopsea

Industry Clusters
A cluster is a geographic concentration of interrelated industries or occupations. The industry cluster in the on
Waterford CT with the highest relative concentration is Coal/Oil/Power with a location quotient of 18.23. This cluster
employs 973 workers in the region with an average wage of $198,564. Employment in the Coal/Oil/Power cluster is
projected to contract in the region about 5.9% per year over the next ten years.
Industry Clusters for Waterford CT as of 2022Q2
$250
$200 Saal/ol i
z Pharmaceutical
e LQ: 0.90" !
8 |
vr $150 i
3 H
2 Utilities |
= LONon =f
@ $100 !
Ss Professional Sve,
g Lo: 0.68 Hl
g iene oe os pnnenetentemeremeemnse ma i ee nn
etal
$50 LQ:1.12 Educationig eve. Media
» tgreae 171.03
$0 : .
6.00 “5.00 4.00 2.00 -2.00 1.00 0.00 4.00 2.00 3.00 4.00
Average Annual Employment Forecast Rate(%) 202202-2032Q2
Source WoeaC Ge aaa ma 200207
Location quotient and average wage data are derived from the Quarterly Census of Employment and Wages, provided by the Bureau of Labor Statistics, imputed where necessary, and updated
through 202201 with preliminary estimates updated to 202202. Forecast employment growth uses national projections from the Bureau of Labor Statistics adapted for regional growth patterns.
Source: JohsEQ®, http://www.chmuraecon.com/jobseq is. 42
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved. jobsea

Education Levels
_ Expected growth rates for occupations vary by the education and training required. While all employment in the
| Waterford CT is projected to contract 1.1% over the next ten years, occupations typically requiring a postgraduate
degree are expected to contract 0.2% per year, those requiring a bachelor’s degree are forecast to contract 1.1% per
year, and occupations typically needing a 2-year degree or certificate are expected to contract 1.0% per year.
Annual Average Projected Job Growth by Training Required
Postgraduate depree ($124,600)
Bachelor's degree (500: :
2yoar degree or certificate ($55,100) :
Previous work experience, no award (862,400)
Long-term training, no exp, no award ($76,600)
Moderate-term OT, no exp, no award ($88,200) :
Short-term OJT, no exp, no award ($35,700)
2.6% 2.2% 1.8% 1.4% -1,0% 0.6% 0.2%
0.2%
Bource: JobsEOS Dala as of 202202
Employment by occupation data are estimates are as of 202202. Education levels af accupations are based on BLS assignments. Forecast employment growth uses national projections from the
Bureau of Labor Statistics adapted for regionat growth patterns,
Source: JobsEQ®, http://www.chrauraecan.com/jobseq . tae 4
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved, JObSea
w

Waterford CT Regional Map
Source: JobsEQ®, http://www.chmuraecon.com/jobseq sa; 14
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved. jonsee

Region Definition
. Waterford CT is defined as the following zip code tabulation areas:
2CTA 06375 ZCTA 06385
Source: JobsEQ®, http://www.chriuraecon.com/jobseq tae 45
Copyright © 2023 Chraura Ecoriomics & Analytics, All Rights Reserved. jopsea

FAQ
What is a focation quotient?
A location quotient (LQ) is a measurement of concentration in comparison to the nation. An LQ of 1.00 indicates
a region has the same concentration of an industry {or occupation) as the nation. An LQ of 2.00 would mean the
region has twice the expected employment compared to the nation and an LQ of 0.50 would mean the region
has half the expected employment in comparison to the nation,
What is separation demand?
Separation demand is the number of jobs required due to separations—labor force exits (including retirements)
and turnover resulting from workers moving from one occupation into another. Note that separation demand
" does not include all turnover—it does not include when workers stay in the same occupation but switch
employers. The total projected demand for an occupation is the sum of the separation demand and the growth
demand (which is the increase or decrease of jobs in an occupation expected due to expansion or contraction of
the overall number of jobs in that occupation).
What is a cluster?
A cluster is a geographic concentration of interrelated industries or occupations. If a regional cluster has a
location quotient of 1.25 or greater, the region is considered to possess a competitive advantage in that cluster.
What is the difference between industry wages and occupation wages?
Industry wages and occupation wages are estimated via separate data sets, often the time periods being
reported do not align, and wages are defined slightly differently in the two systems (for example, certain
bonuses are included in the industry wages but not the occupation wages). it is therefore common that
estimates of the average industry wages and average occupation wages in a region do not match exactly.
What is NAICS?
The North American Industry Classification System (NAICS) is used to classify business establishments according
to the type of economic activity. The NAICS Code comprises six levels, from the “all industry” level to the 6-digit
level. The first two digits define the top level category, known as the “sector,” which is the level examined in this
report.
What is SOC?
The Standard Occupational Classification system (SOC) is used to classify workers into occupational categories.
All workers are classified into one of over 804 occupations according to their occupational definition. To
facilitate classification, occupations are combined to form 22 major groups, 95 minor groups, and 452
occupation groups. Each occupation group includes detailed occupations requiring similar job duties, skills,
education, or experience.
About This Report
‘This report and ali data herein were produced by JobsEQ®, a product of Chmura Economics & Analytics. The information contained herein was obtained from sources we believe to be reliable,
However, we cannot guarantee its accuracy and completeness.
Source: JobskO®, http://www.chmuraecon.com/jabseq = 16
Copyright © 2023 Chmura Economics & Analytics, All Rights Reserved.
Jossea

Southeastern Connecticut Enterprise Region
seCTer
° 19-B Thames Street * Groton, Connecticut 06340
wt creat — ee 860-437-4659 ® Fax: 860-437-4662 © E-mail: seCTer@seCTer.org
January 6, 2023
First Selectman
15 Rope Ferry Rd
Waterford 6385
Dear Sir or Madam,
As you plan Waterford’s 2023/2024 Municipal Budget, the Southeastern Connecticut Enterprise Region
(seCTer) is submitting its annual request of $8,806.95 to provide regional economic development,
commercial lending, procurement technical assistance,-smal] business development, data and grant writing
support. The rate, $0.45 per capita, reflects a ten-cent increase, which is the first since 2007. As of the 2020
U.S. Census, Waterford’s population was 19,571.
The requested rate increase amount is due to increase costs for labor, supplies, and subscriptions to economic
data services. seCTer uses these services when applying for funding for the region by providing detailed
demographics and economic conditions across the region. seCTer has the ability to provide this data to all
municipalities and will be launching a data portal for the region to provide easier access to ail municipalities
and other constituents.
seCTer is the local, state and federally designated Economic Development Organization (EDO) for the
Economic Development District (EDD) of southeastern Connecticut. seCTer catalyzes growth and
prosperity throughout the EDD with a mission of making southeastern Connecticut stronger and more
vibrant by 2030. seCTer values supporting and making our clients and communities successful; our board
and staff being reflective of the clients we serve; our employees and rewarding integrity, teamwork,
innovation and excellence; collaborating with and being responsive to clients and partners; being
accountable fiscally and professionally to all stakeholders; advocating for our clients, our services, and our
community; and diversity and inclusiveness.
As a benefit to member municipalities. such as Waterford, seCTer provides services to Waterford’s
residents, leaders, and existing and prospective businesses on an on-going basis. These services include,
but are not limited to: writing and implementing the five-year Comprehensive Economic Development
Strategy (CEDS) for the region, securing funding for targeted businesses, assistance to businesses to
procure government contracts, creating partnerships for businesses to capitalize on municipal and state
incentives, providing small business development, delivering data and grant writing guidance, and site
finding. seCTer is funded for these efforts, in part, by the U.S. Department of Commerce’s Economic
Development Administration (EDA). Waterford’s support leverages these federal dollars, including
additional CARES Act Recovery funding that allows seCTer to enhance the availability of custom
data, market the region, and facilitate pandemic recovery.
The Economic Development Organization for the Economic Development District of southeastern Connecticut

The 2023 - 2028 CEDS currently being developed serves as an ambitious and acountable framework for
sustained regional economic prosperity through collaboration and innovation. The updated CEDS will be
easily accessible on the seCTer wébsite and interactive to draw specific economic and demographic data
pertaining to our regions municipalities.
seCTer’s Non-Traditional Small Business Lending program supports smal!- to mid-sized manufacturing,
fabricating, biotech, agro-tech and similar businesses in the region with available capital in its Revolving
Loan Funds (RLF). seCTer is pro-active in providing lending to businesses requiring financial aid,
including start-ups, by seCTer directly and with lending partnerships. seCTer continues to work closely
with the state’s Department of Economic and Community Development (DECD), EDA, and the U.S. Small
Business Administration (SBA), to facilitate newly introduced loan and grant programs to small businesses
in the region. seCTer recently received an additional $2 million award through the EDA’s CARES
Act Recovery fund bringing total funding available to $6 million. to assist the EDD’s small businesses
with pandemic recovery. seCTer has available capital to lend and is actively working to expand its lending
options. Note that businesses from member municipalities receive preferred access to lending funds and a
reduction in Joan application fees.
seCTer also participates in the CT Small Business Boost Fund which provides low interest Joans to existing
businesses. Launching this year will be seCTerRise which will provide seed and growth funding to
businesses in the region. These funds will not be loans and are accompanied with technical assistance so
that businesses have the resources needed to succeed. Annually, for the next five years, seCTer will provide.
to businesses in the region up to $700,000.00. It is more than likely a business in Waterford will access
these funds. .
seCTer’s Connecticut Procurement Technical Assistance Center (CT PTAC) operates a statewide
program that has assisted thousands of Connecticut businesses to successfully prepare for and win local,
state and federal government contracts. In it’s program year ending August 31, 2022, CT PTAC served 102
companies in the region that resulted in more than $32 million in governement contracts for those
businesses. CT PTAC is funded by DECD and the U.S. Departrnent of Defense’s Defense Logistics Agency
(DLA). This program is especially vital towards helping our region’s businesses take advantage of
opportunities presented by the unprecedented growth in our local defense industry. CT PTAC’s services
are provided at no charge.
seCTer is available to assist in municipal grant applications that forward economic development in the
region, particularly those consistent with CEDS goals and action items, and issues letters of support to
strengthen grant applications where appropriate. seCTer also provides data profiles for member
municipalities which elevate grant proposals for a higher chance of success. This data presentation can be
customized to the specific goals of the grant proposal.
Through its statewide partnerships, seCTer supports business retention, expansion and attraction by
connecting business leaders with potential sites throughout the region. In addition, seCTer can create data
profiles for businesses seeking growth opportunities in your municipality. Regionally, seCTer staff sit on
local boards and committees to further the goals of the CEDS, SeCTer is currently creating a regional
prospectus that will inform investors, whether internal or external, on the benefits of southeastem CT’s
business climate and quality of life.
Since seCTer’s regional focus benefits all residents, seCTer will serve each of Waterford’s residents.
Municipal support continues to be particularly essential in maintaining seCTer’s economic development
programming and leverages federal funding. Sustaining Waterford’s financial contribution of $8,806.95
The Economie Development Organization for the Economic Development District of southeastern Connecticut

and is critical in developing and expanding assistance to economic development officials and volunteers
throughout the region, including Waterford. .
This past year, seCTer gave direct assistance to Waterford in the following ways:
Lending:
* Provided ongoing pre and post application technical assistance to area businesses
¢ Secured additional lending funds through EDA for Equity RLF to assist businesses in distressed
communities ,
¢ Participating in CT Small Business Boost Fund providing below-market interest rate loans
CT PTAC:
® Assisted 5 local business clients
* Provided 13 hours of procurement technical assistance counseling
e Received client satisfaction survey score from local clients of 4.56 (5.0 maximum score)
¢ $19.1 million in contract awards to local businesses through PTAC engagements
Economic Development: .
* Increased loan funding capacity to assist businesses expand
* Received award for seCTerRise which will support businesses with seed and growth funding
* Increasing economic development capacity by adding a Business Retention and Expansion Specialist
and Business Technical Assistance Provider positions to serve the region
Adding entrepreneurship and small business regional programming to help emerging businesses
e Continued development of 5-year CEDS update :
Addition of economic development data analysis tools to serve the region; Licensing of an online
platform to help promote the region’s quality of life and economic competitiveness; Launch of regional
resiliency assessment through the development of initial economic shock impact survey
seCTer’s Fiscal Year 2022 Annual Report is included with this request and also available on our website
at www.seCTer.org.
seCTer’s staff and board of directors welcome your participation in all of seCTer’s programs, and are
similarly eager to support your programming and initiatives wherever appropriate. Staff will engage with,
and offer assistance to, municipal members and industry associations with leadership in new initiatives,
market research, small business development, funding, site selection and other economic development
activities. We are available to discuss our programs in person or virtually with your municipal leaders, city
commissions or finance board, and invite you to call us to arrange for a meeting with any or all of these
groups. We appreciate your past and continued support and thank you for your assistance in furthering this
vital public-private partnership.
Sincerely,
Pau! Whitescarver
Executive Director
pwhitescarverisecterorg
(860) 437-4659 X201
The Economic Development Organization for the Economic Development District of southeastern Connecticut

Economic Development Commission
December 8, 2022
p. Lofl
WATERFORD ECONOMIC DEVELOPMENT COMMISSION: * "
December 8, 2022
WATERFORD TOWN HALL
5:00 PM
MEMBERS PRESENT: Edward Lusher, Chairman, Lesley Sollima, Guy Russo, Edward Aledia,
Greg Attanasio
MEMBERS ABSENT: None
ALTERNATES PRESENT: Cathryn Gonyo,
ALTERNATES ABSENT: — Julie Greco
STAFF PRESENT: Mark Wujtewicz, Planner,
1. CALL TO ORDER/APPOINTMENT OF ALTERNATES
A quorum was established and E. Lusher called the meeting to order at 5:00 pm.
2, APPROVAL OF MINUTES - November 10, 2022 Meeting
MOTION: Motion made by E. Lusher, seconded by G. Russo, to approve the minutes
of the Noveniber 10, 2022 meeting.
VOTE: 5-0
3. REVIEW OF SMALL BUSINESS GRANT AWARD STATUS:
{ M. Wujtewicz updated the Commission on the grant awards. He stated that the checks have
been after all of the awardees had submitted the required paperwork. He noted that the
Commission had a series of follow-up questions and notes on potential areas of improvement
that were generated by BR Visionary Consulting for the Commission to consider when
implementing the second cohort of the grant. The Commission will review and discuss the
items at the next EDC meeting in January.
4. REVIEW OF THE PROPOSED 2024 BUDGET
The Commission reviewed the Fiscal Year 2024 draft budget that was given to them at the
previous meeting,
MOTION: Motion made by E. Aledia and seconded by G. Attanasio to approve the
draft FY 2024 Economic Development Commission budget.
VOTE: 5-0
5. ADJOURNMENT
. MOTION: Motion made by G. Attanasio and seconded by L. Sollima to adjourn the
meeting at 5:50.
VOTE: 5-0
Rosy ly ubmitted
Made Wg ~s-
Mark “Wjtewion
Planner

Annual Board of Directors Meeting
Thursday, November 10, 2022
Guest Speaker:
SCOTT ANDES
U.S. Economic Development Administration
ECONOMIC
DEVELOPMENT
PROCUREMENT TECHNICAL -
ASSISTANCE CENTER
SMALL BUSINESS.
LENDING PROGRAMS.
SOUTHEASTERN
CONNECTICUT
CmmuBtien ENTERPRISE REGION

AGENDA
nual Board of
rectors Meeting
1. Registration. /:Sign In / Breaktast
7:30AM
= Welcome /:Call to Order /-Roll Gall
Mark R Oefinger / Chair
_ Introduction’of Keynote Speaker
Paul Whitescarver / Executive Director
. Scott Andes./ Program Lead,
Build Back Better Regional Challenge
(BBBRC),. Economic Development
Administration (EDA)
: Approval of 9/28/22
Board:Meeting Minutes!
_6, Committee. Reports
Audit Committee: - Gabe Stern?
i. Annual Audit Report / Auditors
b.-Nominating Committee. - Wendy. Bury!
Reappointment.of Current
Board: Members {hone}
ii. Farewell-and: Thank you-to
Current Board’ Members
Leaving the Board
iii Nomination and:Appointment
of New Board: Members
iv. Nomination ond Appointment
of Board-of Directors: Officers
7: Executive Director: Report’/: Comments
Paul Whitescarver
a. seCTer.Programs
The Year in Review
b. “ Comprehensive Economic
Development Strategy (CEDS)
Update
c.:, Grants, Update
Dear Board and Committee Members and Guests
2022 Year in Review
This past year seCTer has made significant strides in our mission to stimulate and
support economic growth to make southeastern Connecticut stronger and more vibrant.
One of the more important roles seCTer is tasked with is the development of the regions
Comprehensive Economic Development Strategy (CEDS). seCTer is in the final iterations
of updating the CEDS. As with all communities, the pandemic demonstrated the
importance of regional economic resiliency. Through our Economic Development
Committee, surveys and focus groups, seCTer will put forth a strategy that is inclusive to
all our regional stakeholders. Our efforts reiterated that diversifying our economic portfolio
is key to resiliency. What better way to diversify our economic portfolio than with the use
of existing assets such as the Port of New London’s State Pier.
seCTer's participation in the Economic Development Administration’s (EDA) Build Back
Better Regional Challenge (BBBRC) with the forming of a coalition of pariners designed
to build an industry cluster around offshore wind energy proved that regional
collaboration is desirable and-possible. The coalition includes the University of
Connecticut, Connecticut Center for Advanced Technology {CCAT}, Norwich
Community Development Corporation (NCDC), Southeastern Connecticut Council
of Governments (SCCOG}, Eastern Connecticut Workforce Investment Board (EWIB),
and the Connecticut Department of Economic and Community Development (DECD}.
The coalition developed the “Offshore Wind Industry Cluster,” and in doing so stimulated
a parinership and a conversation that will diversify our economy and create thousands
of jobs for our region and the state. These six pariners, under the leadership and
coordination of seCTer, promoted the possible investment of $60 million, both private
and public funds, into the region. It has been close to 20 years (BRAC 2005) since this
region last witnessed cooperation at this level. seCTer secured funding for Phase 1
that will ensure our efforts in the offshore wind arena continue through 2023.
Switching gears to small business development, seCTer’s loan and grant funds supported
by the EDA and the state have the ability to provide up to $6 million in Small Business
support through existing seCTer, CARES RLF Equity, and BOOST funds over the next
several years. This past year alone seCTer provided over $2 million in small business
loans across the region. Couple these loans with seCTer’s ability to provide $700,000
in annual grants for small businesses over the next several years via seCTer Rise, and
you can understand how seCTer becomes a vital piece to the momentum we are
seeing in the region in business and economic development.
seCTer continues to host the CT Procurement Technical Assistance Center (PTAC)
throughout the state. We welcome Marisol Herrera as the new State Director for the
CT PTAC. Marisol brings fresh energy to an organization that is vital to our region
and the state.
We also want to express gratitude to the seCTer staff. This has been a great year for
seCTer and that success is due to the hard work of our staff.
We have a bright future in Southeastern Connecticut, and seCTer is proud to be a vital
pariner in our regions effort to make that future even brighter.
Sincerely,
Paul Whitescarver, Executive Director
Mark Oecfinger, Chairman of the Board
SOUTHEASTERN
CONNECTICUT
estate ENTERPRISE REGION

THE YEAR
“N REVIEW
Build Back Better Regional Challenge
The Phase ! award allowed seCTer to hire additional capacity
to further the development of an offshore wind industry cluster.
This work will continue through 2023, but will evolve to explore
other regional competitiveness programming. seCTer will use
this as an opportunity to explore other areas of competitiveness
using a resiliency lens by conducting a climate and economic
resilience study. Economic diversification is paramount to the
region's success and has been a sirategic goal in past and
current CEDS.
SSSOSSHSEHBOHEHOFSCASHEEOSEOHOHHGEOEBEEOCEE
seCTer Loan Program Highlights
Providing loans to regional businesses for growth remains a
core part of seCTer's activities. This year, seCTer was awarded
additional funds by the U.S. EDA to further this important
activity. Now, in-house, seCTer has a new employee who brings
years of loan processing experience and will help the
-eganization develop policies and procedures to bolster this
artant area of practice.
SOGSSSHSHHSCESHSEHTSHHSECHEHOSEHHGSESAHSH
Adding Regional Capacity
seCTer is growing by adding staffing capacity to help further
the mission. The Boost Loan Fund and seCTerRise will fund
positions to help businesses start, grow, and provide much
needed technical assistance building toward a more diverse
economy. We are also adding digital resources that will help
people in and out of the region understand our economy and
the region has to offer - using data and visualizations. The
CEDS update will also be primarily an online resource making
ita more accessible, usable tool for the region.
SSGeSCeesescoeossEoaseseeocoeseesesaeoseeees
seCTer Procurement Technical
Assistance Center (PTAC) Highlights
This year, PTAC served 950 active clients of which 165 are
new. Counseling hours totaled 2,069 supported by 55 events
with 2,024 attendees. 32 videos have been added io the
video library. Total contract awards of $101,982,319 across
contracts were disbursed, creating 2040 jobs and
¢ erating $5.88 million in CT State tax income.
SOUTHEASTERN
CONNECTICUT
etttematiny ENTERPRISE REGION
GUEST SPEAKER:
SCOTT ANDES ©
Program Lead
Build Back Better Regional Challenge
U.S. Economic Development
Administration
Scott Andes is the Program
Lead for the Build Back Better
Regional Challenge af the
Economic. Development
Administration within the US.
Department of Commerce. As
the Lead, Scott is responsible
for the overall management
and outcomes of the $1
billion competition. BBBRC is the largest national
economic development competition in American
history. On February 2nd, Presi-dent Biden
announced 21 regional winners of the Challenge
rec