On Friday, Acme United Corporation (ACU) reported that it donated its 2.4 acres waterfront property along the Pequonnock River in Bridgeport to the City of Bridgeport, CT. Acme United owned the property, because the former Acme Shear Company’s factory* was built on this site. The property anchors the potential redevelopment of the East Side of Bridgeport, and could provide waterfront access for the public.
* After Acme Shear Company acquired Westcott Rule Company in the 1970s, it was decided to change the company’s name to Acme United Corporation. You can read all about Acme United’s long and fascinating history on Wikipedia.
Walter C. Johnsen, Chairman and CEO said, “Acme United has made over 2.6 billion scissors and shears in Bridgeport since 1867. We are proud of the many employees from Bridgeport who contributed to our growth, and it is in their honor that we are now donating this land. We hope that future generations recognize their accomplishments, and that we have made a small contribution to the city that has given us so much.”
“We are hopeful that Acme’s donation will lead to a mixed-use development that will include public access to the riverfront,” said Mayor Bill Finch. “This piece of land is a gateway to continued reclamation of waterfront along the river as part of the City’s Master Plan of Development.”
Acme United will recognize a small tax gain in the fourth quarter, ending December 31, 2009, on the donation of this property.
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