The Wellington Board of Trustees during its Aug. 25 regular meeting approved an Economic Development Incentive Policy to support business attraction, encourage existing businesses to continue investing in the community and advance economic development opportunities in Wellington.
The policy establishes a framework for the town to evaluate requests for public incentives, such as reduced or waived development fees, tax rebates, public infrastructure assistance and other forms of support authorized by the town.
In approving the policy, the board recognized that a diverse and resilient economy contributes to Wellington’s long-term fiscal health, community vitality and quality of life. The policy allows the town to consider projects of varying types and sizes based on their potential to advance Wellington’s economic development goals and generate a measurable public benefit.
“Economic development opportunities can look very different from one project to the next,” Wellington Mayor Rebekka Dailey says. “This policy gives Wellington a framework to work with businesses to consider those opportunities and to ensure that any public investment is connected to a meaningful benefit for the community.”
The Economic Development Incentive Policy is one of several tools the town is using to support a strong local economy and position Wellington for future investment. The town will continue to work with existing businesses, prospective employers, property owners, developers and regional partners to attract investment that strengthens Wellington’s economic base, expands services and employment opportunities and supports a strong community for current and future residents.
Additional information is available on Wellington’s Economic Development webpage.
