Oxford gets high marks from Moody’s, Yankee Institute Oxford gets high marks from Moody’s, Yankee Institute
OXFORD-+Things are good in Oxford according to Moody’s Investor Service and the Yankee Institute for Public Policy.
And First Selectman George R. Temple could not be happier.
“Despite the state of Connecticut economic situation, Oxford continues to grow,” Temple said.
Moody’s Investor Service gave the town an Aa2 rating after analyzing its cash on hand, the amount of money it owes and its growing Grand List.
“Oxford benefits from a strong economic position due in part to sizeable payment in lieu of taxes,” Moody’s decided. “The town’s tax base is stable and the fixed cost and long term liabilities are manageable.”
Meanwhile the Yankee Institute for Public Policy in assessing municipal health in Connecticut gave Oxford an 88 percent rating—the highest in the area.
Their analysis considers general fund balances, long term obligation, pension contributions, property values and unemployment rates. A score of 70 or above is health, 50-to-70 is marginal and below 50 represents severe fiscal distress.
The town ranks 5th of 9 small growth communities and is among the 500 best in the United States to start a small business according to the Connecticut Small Business Development Center, said Andy McGeever, who is the economic development director.9
“This economic news shows Oxford is pointed in the right direction and thriving,” Temple said.