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July 16, 2013

Pettengill Road development attracts attention

LONDONDERRY — The prospect for 10,000 or more jobs is bringing the governor to town.

Gov. Maggie Hassan and the state’s economic development chief are coming to Londonderry tomorrow for a briefing about the development potential of Pettengill Road.

“It means a great deal,” Town Planner Cynthia May said yesterday of the governor’s visit.

The visit comes as the town is pursuing $8.2 million in federal transportation aid for Pettengill Road development through an economic recovery program.

Hassan and the state’s entire Congressional delegation are supporting the effort, May said.

A study for the town by Laconia-based Applied Economic Research last year projected 10,000 to 25,000 jobs from a business park development along Pettengill Road.

“Pettengill Road is the most attractive business development opportunity in New Hampshire — there is essentially no competition for its large, flat sites serviced by sewer and water elsewhere in the state,” the study said.

A four-lane road would cost an estimated $12.5 million and open 1,000 acres for development between Manchester-Boston Regional Airport and Interstate 93.

The study estimated the project could give the town $7.5 million a year in property taxes.

“Overall, there is no more attractive tax-generating investment Londonderry can make it itself than the Pettengill Road infrastructure,” the study concluded.

Russ Thibeault, president of the firm, describes the area as a great site that will have appeal for some national companies to locate there.

“Nothing is missing other than the road itself,” Thibeault said yesterday.

Besides the land, the property is attractive because of its proximity to the highway and airport, as well as within a densely populated area of the state with a ready workforce, he said.

“This is one of the premier undeveloped commercial-industrial sites in northern New England,” Thibeault said.

The area can accommodate light manufacturing, warehouses, technology, offices, lodging and limited retail, he said.

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