Stonington is located midway between New York City and Boston and is the last shoreline town before entering Rhode Island. It has small town New England charm and an excellent quality of life. There are 3 exits on Interstate 95 and convenient AMTRAK passenger rail service from a station in Mystic. The town has 18,500 residents; there are 3 village-like areas consisting of Mystic, Stonington Borough, and Pawcatuck.
Major area employers are General Dynamics/Electric Boat, Pfizer, Dominion Nuclear Power, the US Navy Submarine Base, Computer Sciences, Foxwoods and Mohegan Sun Casinos, Lawrence and Memorial Hospital and Backus Hospital. The town is home to Davis Standard, an international industry leader in the manufacture and supply of extrusion and packaging machinery. Technical companies located in Stonington include Zachry Engineering, Monsanto Dekalb Plant Genetics and Cable Components Group. Stonington is home to two internationally recognized tourist businesses: Mystic Seaport – the Museum of America and the Sea and the Mystic Marine Life Aquarium. Senior living/healthcare is a business segment currently experiencing growth with over $80 million recently invested or in the process of being invested.
The Town budget for FYE 6/2016 is $61,220,000 and budget/spending growth over last 10 years compounded at an annual rate of only 1.9% per year. Stonington’s finances are well managed. The mill rate for FYE 6/2016 is 21.32. Over the last 12 years the mill rate has ranged from a low of 15.10 to a high of 21.73. The Education budget for FYE 6/2016 represented 58% of the total budget ($35,355,000) and in 2015 Stonington approved bonding to build a new middle school. The education system is excellent. The total number of students for the period ending 10/2014 was 2,290. Median family income was $100,400 in 2013 compared to a statewide median income of $87,200.