New Milford, CT: A Thriving Hub for Small and Mid-Sized Companies

With a median household income of $95,000, robust spending patterns, and ample space, New Milford stands as an ideal destination for establishing new retail businesses. The Route 7 and 202 corridors offer exposure and ease of access. What sets New Milford apart from other communities of similar size is its Town Center, which boasts a flourishing collection of independent retail businesses and restaurants.  

The New Milford market offers diverse dining options, including fast-casual and full-service restaurants. Catering to the demand for locally sourced, high-quality meals is critical to satisfying customer's needs.  

Year after year New Milford restaurants are consistently named among the top restaurants in the county and in the state.  

There is significant potential for the growth of additional grocery stores. These stores can include national chains, specialty food shops, locally-owned establishments, or worker-owned neighborhood markets. A store that sources its products from local producers would thrive, resonating with the community’s support for local entrepreneurship.

New Milford holds promise for boutique clothing stores that offer specialty lines or create a distinctive destination shopping experience. Retailers who embrace online sales while maintaining a physical storefront will find success in the region. Moreover, stores that prioritize reuse and repurposing of vintage items would be enthusiastically received by New Milford’s environmentally conscious consumers, aligning with their values and preferences.

New Milford’s recreational assets present an opportunity for new or expanded businesses offering equipment, rentals, and repair services for biking, kayaking, hiking, and more activities. Additionally, innovative business models that provide products, services, classes, and guided tours in these recreational areas have potential for profitability and customer engagement.

The healthcare market represents one of New Milford’s largest growth opportunities. Projected job growth in this sector is expected to be sustained until 2028, with salaries aligning with housing costs. New Milford Hospital, part of the Nuvance system, acts as a catalyst generating referrals and outpatient care that impact other related facilities and businesses. The increasing demand for medical offices, long-term healthcare services and senior living options, such as independent and assisted living, is fueling the growth of this sector.

Connecticut’s picturesque New England scenery and other advantages provide a favorable environment for film, TV, and digital media creators. New Milford, in particular, features numerous locations registered with the Connecticut Office of Film, TV & Digital Media. The Town offers diverse settings, including private homes, the charming Village Center, historic train stations, farms, and lakefront locales, making it ideal for on-screen productions.

The Town is home to a number of production facilities and experienced award-winning directors, producers and crew with knowledge of the area and the industry.

The New Milford Film Commission maintains a directory of major motion pictures, network television shows, and national commercial spots filmed in the Town. With its film-friendly resources and a skilled, award-winning workforce, New Milford can accommodate projects within budget.

With its talented workforce, connected business ecosystem, and strategic East Coast location near major metropolitan areas, New Milford offers growth opportunities in various industry sectors. These sectors contribute to the Town’s pro-business growth environment and hold significant potential for development.

This sector plays a vital role in supporting the operations of major employers in the region. New Milford currently has approximately 700 jobs within this sector, with a projected annual growth rate of around 2 percent. Businesses in this sector provide expert services, contributing to the regional economic environment.

The combined sectors of computer systems design, related services, and computer and electronic product manufacturing offer significant growth potential. These businesses operate in diverse workspaces including traditional offices, home offices, and flex spaces further contributing to their expansion.

The redevelopment plan to transform the former Nestle lab building to include a modern laboratory space creates an emerging opportunity for the Town. The facility has the potential to accommodate up to five bioscience firms, fostering innovation and growth in the life sciences sector.

New Milford offers ample space for light industrial manufacturing that prioritizes green processes and technologies. Kimberly-Clark manufactures tissue products in its New Milford location, while newer industries such as Neeltran and Odyssey Logistics, global leaders in their fields, have also established a presence. Local businesses, like Eastern Connector Specialty Corporation and Mountain High Organics choose to expand and grow in the Town.