COSTCO BAGS EAST LYME
Costco has dropped its plans to open a big-box store in East Lyme at the Gateway Commons site off Interstate 95’s Exit 74. The developers said they now are marketing the site for a new retail tenant. Officials of Sikon Development Corp., said Costco informed the developers about a week ago that the retail company made the decision to pull out of the lease for the East Lyme site. He said the company did not provide a specific reason, but he noted that retail in general is in a period of disruption. The store would have brought hundreds of jobs to the region.
SLOTS DOWN AT MOHEGAN
The Mohegan Tribal Gaming Authority on Wednesday reported slot machine revenue from Mohegan Sun is down by about six percent from this time last year. That’s about $3.2 million dollars. The figures represent the second year of consecutive decline for the casino in its slot machine revenue. This October, the casino contributed $11.9 million to the state’s special revenue fund, a decrease of $800,000 over last October’s contribution.
EDUCATORS SHOW OFF PLANETARIUM
It’s been a part of the Teacher’s Memorial Middle School since the Norwich building opened in 1975. The planetarium, though, had fallen behind the times in recent years, but not anymore. More than 200-thousand dollars in state alliance district grant funding has upgraded the facility into a state-of-the-art teaching tool, according to city school curriculum director Thomas Baird. He says it’ll play a major role as Teacher’s becomes a Global Studies magnet school for sixth through eighth graders next Fall. Teacher’s Memorial technology instructor Andrew Kortfelt says he and his fellow instructors are learning to use the new technology. School officials plan to eventually offer planetarium programs to others besides Teacher’s Memorial students.
TAX REFORM MAY DERAIL REID & HUGHES RENO
A federal program that has helped the city of Norwich revitalize historic buildings like the Wauregan and Ponemah Mills, and possibly the Reid & Hughes, is on the chopping block in Congress. The House Republican tax overhaul, which the chamber hopes to vote on Thursday, would eliminate the 20 percent federal investment tax credit for historic preservation projects, a tax break Congress approved about 40 years ago to revitalize many of the nation’s downtowns.