The North American subsidiary of one of the world’s foremost producers of plastic injection molding machinery has submitted plans to move its corporate headquarters from Newington to Rocky Hill.
Arburg Inc. has submitted plans to the Rocky Hill Planning and Zoning Commission for a two-story, 20,640 square foot facility at 644 West St. in the Corporate Ridge business park. The new building would house the company’s corporate offices, a showroom, a warehouse and additional storage space.
The 3.7-acre site of the planned building is currently undeveloped woodland. Once the project is completed, it is expected that the value of the property will increase from $128,400 to $5.8 million. The town expects that the business will generate approximately $105,000 in real estate taxes, with an additional $25,000 in personal property taxes each year.
The company has been located in Newington since it was first established in 1991. It is planning to move its 34 employees to the new building at West St., and will hire at least six more individuals. The company has hired for a multiyear abatement of a portion of its taxes following the relocation to Rocky Hill. The economic development commission has recommended a 50 percent reduction in taxes for five years.
The decision whether to grant the abatement will be sent to the town council.