New Haven, CT (PRWEB) April 11, 2011
New Haven Mayor John DeStefano and Higher One today broke ground to celebrate the next phase of this local company's growth and development in New Haven's Science Park. At the event, the important work of the City’s Office of Economic Development was highlighted and 10 local individuals who have successfully completed the Brownfield Remediation Technician Training Program were recognized.
“Today we take another important step in a project that is already positively impacting New Haven. We are excited for the construction to officially begin to transform this abandoned site into a building that will create business and jobs for our great city for years to come,” New Haven Mayor John DeStefano said.
In December 2010, New Haven-based Higher One announced plans to expand its operations in Science Park, ensuring continued investment in the former industrial property and the creation and retention of more than 350 positions. The company, along with Winstanley Enterprises, Forest City Residential Group and Science Park Development Corporation, is planning a $45 million project to rehabilitate two vacant buildings at the former Winchester Repeating Arms Co. site to be used as Higher One’s new headquarters.
“This project is a great opportunity for a company that first came to Science Park in 2004 with 24 employees,” said Miles Lasater, co-founder and Chief Operations Officer of Higher One. “The construction at this site gives us the room for continued growth, enables us to attract and retain talent, and allows us to realize efficiencies we can leverage in the way we help colleges and universities improve services for students. We are proud of the employees who are helping us reach this point and appreciative of the support from the city of New Haven and the State of Connecticut for helping us make our new headquarters possible.”
“Higher One is a home grown Connecticut success story and I’m delighted by their commitment to keeping it that way,” Governor Dannel P. Malloy said. “Their use of a former industrial site as a new center of productive economic activity is exactly what we need to do more of in Connecticut. We have to harness our rich industrial past to the job growth engines of the future. I’ve said it before and let me say it again: Connecticut is open for business."
The state Department of Economic and Community Development is assisting the project with $5.5 million in grant funding for environmental remediation and construction and up to $18.5 million in tax credits through the Urban and Industrial Sites Reinvestment Tax Credit Program. The Connecticut Development Authority plans to support the project with $1 million in sales and use tax exemptions, subject to approval from its board of directors.
“Redeveloping existing buildings in an environmentally-friendly and sustainable way helps keep jobs in Connecticut and adds to the viability of New Haven's---and the state's--- long-term economy. We are pleased to support the development of Higher One’s new headquarters in a meaningful way,” said Catherine Smith, Commissioner of the Connecticut Department of Economic and Community Development.
The project calls for environmental assessment, remediation and hazardous material abatement and build-out of 140,000 square feet at Science Park. To accomplish this, 10 local individuals have already completed the Brownfield Remediation Technician Training Program and were recognized at the ceremony for their efforts. This pilot program development by the City’s Office of Economic Development was done in partnership with Gateway Community College and the Regional Workforce Alliance. A program like this could not be successful without partnership of government and the private sector.
"We chose these New Haven residents to complete the remediation training because of their strong skills and are proud of their accomplishments and contributions to this effort thus far," Mubarakah Ibrahim, President of EcoUrban Pioneers, said.
Higher One, the brainchild of three Yale students who developed their idea while undergraduates at the university in 2000, helps institutions of higher learning manage their business operations and provides improved services to students. Higher One works with colleges, universities and students to improve refund, payment, electronic billing and payment plan processes. Thecompany was selected as one of Connecticut Technology Council 2010 Marcum Tech Top 40 Winners and ranked No. 140 on Deloitte’s 2010 Technology Fast 500 list of fastest growing companies. The company now employs more than 360 people at offices in New Haven and Oakland, California.
About Higher One:
Founded in 2000, Higher One, Inc., a subsidiary of Higher One Holdings, Inc.is a leading company focused on helping college business offices manage operations and provide enhanced service to students. Through a full array of services from refunds, payments, electronic billing, payment plans and more, Higher One works closely with colleges and universities to ensure students receive financial aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases and learn the basics of financial management.
Higher One provides its services to more than 5.3 million students at distinguished public and private higher education institutions nationwide. More information about Higher One can be found at http://www.HigherOne.com.
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