Retail Market Outlook
The outlook for the retail market in Groton is strong, with up to a thousand new housing units planned and General Dynamics Electric Boat announcing plans to hire hundreds of employees each year for the next decade and beyond.
The Groton market benefits heavily from the regional draw created by the presence of two major industries: Pfizer and Electric Boat. These two industries alone employ over 10,000 individuals with many transient workers also flowing through the market on a regular basis. These industries have shown that they are committed to future investment in the community through expansion of facilities and employment in Groton.
In April 2021, Chelsea Groton Bank announced their plans to make Groton their new corporate headquarters. This investment, along with others from Groton's major employers, indicates that the market is stable and will continue to add shoppers to the trade area over the next 5-10 years.
Retail Trade Area