We’re the EDC
and this is what we do.
Stonington’s Economic Development Commission is an energetic, committed team of 12 volunteers striving to grow the tax base while preserving the residential character of the Town as described by the Plan of Conservation and Development (POCD). We are an advisory body, and make recommendations to our key partners: the Board of Selectmen, Department of Planning, and the Planning & Zoning Commission. The EDC focuses on initiatives that support economic growth: a table of our initiatives and progress is included on all Regular Meeting Agendas and Minutes available on the EDC page of the Town website.
The goal of the EDC is to encourage businesses and residential developers to invest in Stonington. The EDC focuses on the key economic clusters that drive the Stonington economy: Maritime, Agriculture and Fishing, Real Estate, Tourism, Manufacturing and Elder Care.
Want to help plan your town? There are three openings on the EDC starting January 2025.
We help by meeting with investors before they seek zoning approval for their project. The EDC offers pre-application guidance and support to developers / investors, as well as advocating at Planning and Zoning Commission meetings when approvals are sought for projects that align with Town goals as outlined in the 2015 Plan of Conservation and Development (POCD). More about our economic clusters:
About the Town of Stonington
Stonington is a healthy, multi-generational community with strong ties to the past and a clear view of the future.
Stonington is located between New York City and Boston and is the last shoreline town before entering Rhode Island. It has small town New England charm and an excellent quality of life. There are 3 exits on Interstate 95 and convenient AMTRAK passenger rail service from a station in Mystic. The town has 18,500 residents; there are 5 village-like areas consisting of Mystic, Old Mystic, Stonington Borough, Wequetequock and Pawcatuck.
Major New London County employers are General Dynamics/Electric Boat, Pfizer, Dominion Nuclear Power, the US Navy Submarine Base, Computer Sciences, Foxwoods and Mohegan Sun Casinos, Lawrence and Memorial Hospital and Backus Hospital. The town is home to Davis Standard, an international industry leader in the manufacture and supply of extrusion and packaging machinery. Technical companies located in Stonington include Zachry Engineering and Cable Components Group. Stonington is home to two internationally recognized tourist businesses: Mystic Seaport Museum and the Mystic Marine Life Aquarium. Senior living/healthcare is a business segment currently experiencing growth with over $80 million recently invested or in the process of being invested.
The Town budget for FYE 6/2024 is $80 MM and budget/spending growth on a four-year rolling average basis is only 2.2%. Stonington’s finances are well managed, and the Town has continued to maintain its AAA bond rating. The mill rate for FYE 6/2024 is 17.45. Over the last 14 years the mill rate has ranged from a low of 15.10 to a high of 23.85. The reduction has been driven primarily by higher home revaluation appraisals and secondly by an increase to the Grand List. The Grand list grew by over 6% from 2018 to 2021 which excludes the revaluation. The Education budget for FYE 6/2024 represented 52% of the total budget ($41.6MM) and in 2015 Stonington approved bonding to refurbish two elementary schools and combine middle schools due to lower enrollment. The education system is excellent with relatively small class sizes. The total number of students for the 2020-21 school year is 1,901 down by over 150 from the previous year. Median Household income in 2021 was $81,667 which is 4% higher than the statewide median income of $78,444.