Middletown council fast-tracks Weidman Electrical Technology incentives for $150M-plus project

Council approved emergency ordinances on July 7 to authorize an enterprise zone agreement and a job-creation incentive for Weidman Electrical Technology Inc. to establish a manufacturing facility at the former Graphic Packaging plant.

City staff said Weidman — described in the staff report as a transformer-insulation manufacturer — plans to invest more than $150 million, including about $35 million in new construction, and create at least 56 full-time jobs with an annual payroll estimated at more than $3 million. Staff said the city is offering a 15-year, 100% tax abatement and additional property-value exemptions to support remediation and renovation. "Weidman intends to invest over $150,000,000...and create at least 56 full time jobs," the city manager said during the staff presentation.

Council approved the emergency first readings that will allow Weidman to begin remediation and renovation work promptly; members praised staff for attracting reuse of an older industrial property. The job-creation incentive agreement calls for payments to begin one year after the job-creation period and will distribute 50% of income taxes collected from the newly created positions over an agreed period, according to the staff report.

Councilors said the project will bring jobs and reuse a large vacant industrial site. The ordinances passed on the council floor and will move forward to implementation steps managed by administration and economic development staff.