GRISWOLD- The state Department of Economic and Community Development has denied a tax incentive to the company that purchased the former Wyre Wynd property in JewettCity.
First Selectman Kevin Skulczyck confirmed Friday that the state had denied the loan to Notus Eurus LLC, about a month ago.
Notus Eurus LLC purchased the Wyre Wynd property at 77 Anthony St., in October 2013 for $550,000, according to assessor’s records.
In previous Economic Development Commission meetings, James Bardia, the chief executive officer of both Notus Eurus, LLC and The Change Wind Corp., indicated the business would provide 25 jobs in its first year and up to 150 in its fifth.
On Friday Bardia declined to comment on any updates regarding the application or the progress of the business. He has said previously that he was waiting to see what kind of financial incentives the state would offer before the business could get off the ground.
Skulczyck said the town remains committed to assisting Bardia and the business despite the setback.
“We are certainly going forward on the plans and we will keep them in conversations and help them in anyway,” Skulczyck said.
The town and the Economic Development Commission has worked with Bardia to try to establish a small industrial park on the Anthony Street property in order to develop the space into nine rentable units for other small businesses.
Bardia’s operation would be a major boost to the town, which was recently deemed a distressed municipality by the state. In the past year, Skulczyck and the Economic Development Commission have looked for viable business opportunities for Griswold. Most recently the commission has teamed up with Norwich Community Development Corporation, the economic development agency from Norwich, to develop town and borough property along the QuinebaugRiver into hiking trails.
In February, the town approved its own tax abatement for Bardia for new construction on the property. Residents voted 8 to 1 for the company to receive a tax abatement of 60 percent in the first year and 40 percent in the second. This only applies to any new building construction on the site and not the existing property.
Under this agreement with the town, Notus Eurus has to begin construction within a year of approval and must finish in two. If the company fails to meet these deadlines, it will be liable to pay the entire tax payment.
The Change Wind Corp. would lease space in the building to construct 30 foot tall, 36-kilowatt turbines. Right now, it is the only business renting space out of the former Wyre Wynd property.
The business has yet to open on the property, but Skulczyck said he has seen activity there.
“Equipment has been delivered, the facility has seen some activity and they still own the property,” he said. “All indications point to plans for the business to open in the future.”