April 28, 2013

Vermont hopes to revitalize St. Albans

The state plans to sell a state office building downtown to a large pharmaceutical company.

The Associated Press

ST. ALBANS, Vt. - The state of Vermont is planning to sell a state office building in St. Albans to a pharmaceutical company as part of broader plan to help revitalize the community's downtown. The 200 state workers in the city would be moved into leased space that would become part of the downtown redevelopment project.

Vermont lawmakers passed the bill authorizing the sale in hopes it will help trigger a two-fold bonus for St. Albans: allowing valuable employer Mylan Technologies to expand and helping the city to redevelop the downtown.

"For the city, it's critical and for the region, it's critical," said Dominic Cloud, the St. Albans city manager. "This is the third-largest generic pharmaceuticals company in the world seeking to increase investment in a designated growth center. These are great jobs."

By expanding in St. Albans, Mylan would create 100 new manufacturing jobs, said a study of the project commissioned for the city.

Some object to the plan because it would cost the state an estimated $39,000 more a year in building costs over 20 years.

Sen. Richard Mazza, D-Grand Isle/Chittenden, a member of the Senate Institutions Committee, told the Burlington Free Press he was wary of trading a state-owned building for leased space, but the economic analysis convinced him it was worth it.

 

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