Updates from the Bristol Development Authority

The City of Bristol continues to focus development efforts in the downtown area. Once a bustling area of the City, downtown has suffered as chain-driven retail on busy State Route 6 and State Route 229 have grabbed consumer interest.The failed Bristol Centre Mall and other factors have contributed to the issue. Now, as Bristol Hospital (now called Bristol Health) completes construction of a 60,000 square foot medical arts facility, the City is working to bring more than 60 new apartments units online downtown, with the potential for more on the Centre Square site. To aid in downtown development, the Bristol Development Authority and City Council approved the use of Tax Increment Financing (TIF) as an economic development tool to incentivize private development and to provide a funding source for public infrastructure projects downtown. In addition, the majority of downtown is now identified as an Opportunity Zone, providing the potential of Federal tax benefits for investors.

Elsewhere, Bristol works to encourage existing manufacturers to expand and to welcome new manufacturing businesses to the community. Again, Bristol utilizes a variety of potential incentives to do so, including a combination of grants and tax abatements. The City is also proud to welcome the American Jobs Center from the Capital Workforce Partners as a way to connect residents looking for work with manufacturers in desperate need of new talent.  

 

Justin Malley
Executive Director
Bristol Development Authority

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