November 6, 2009 Your Town: How New Britain is faring amid down economy Play video

(NECN: Brian Burnell, New Britain, Conn.) - Stanley Tools was founded in New Britain, Connecticut 150 years ago. Over the years, Stanley's footprint has shrunk as has its work force in New Britain.

NECN's Brian Burnell takes the pulse of New Britain in a down economy.

Stanley Tools is a prominent presence in New Britain, Connecticut but more in name than in fact. Thousands drive by the corporate headquarters on interstate 84 every day. But a few miles away the factories where the tools are made tell the real story. At one time the company employed 15-to-20-thousand people here. That number has shrunk to about 13-hundred. Not that Mayor Timothy Stewart is complaining. Jobs are jobs especially in these tough times.

Mayor Timothy Stewart, R-New Britain, CT.:We have a higher unemployment rate than the average in the state of Connecticut which is in the 9 percent range but its probably up in the 12, 13-percent range and people are hurting.

Foreclosures are also up though the mayor says things have stabiIized.

Mayor Timothy Stewart, R-New Britain, CT.: You can gauge the economy based on tax collection rates and things like that. And permitting in the building department. You can see what's going on in your community based on the level of permitting that's issued in the course of a month. So we track that quite regularly so we know what's happening and things are pretty stable.

Brian Burnell, NECN: Over the past year we've probably

learned more than we ever thought we would about economic indicators. Gross Domestic Product, housing starts, interest rates. Well, here's an economic indicator for you. The breakfast special at the Miss Washington Diner.

Lori Fongemie has worked here for 18 years. She can judge the local economy based on how regular her regulars are and what they order.

Lori Fongemie, New Britain, CT.: We do a great breakfast special. $2.45 in the morning. 2 eggs, home fries and toast. With coffee, $3.45. People can not afford it or that's all they can afford. "Oh, my. Am I in time for that?" Because its just not in their budget.

She says folks she used to see every day are cutting down to once or twice a week. Some don't come in at all anymore.

Lori Fongemie, New Britain, CT.: What kind of stories, personal stories do you hear? Are you hearing about people getting laid off or businesses losing business? I usually get "goodbyes" from those people. "Okay, I won't be able to come back. I got laid off. They cut my hours so I don't know when I'll be able to come see you again."

The news is not all bad in New Britain. Across town East Side Restaurant is doing well. Owner Nick Augustino has just completed renovations that include a German Beer garden upstairs that focuses on good German food and cold beer.

Nick Augustino, East Side Restaurant: Its a system that puts out 32-degree beer. Not only that the system tempers glasses. When I put it over here what it will end up doing is it will take this glass from room temperature all the way down to around 34-degrees. (disc 1 1:57:52) Not only do I give you 32-degree out of the tap I also put snow rails in so when you keep it here it stays 32-degrees.

Nick undertook this work with the economy in the tank and that worked to his advantage.

Nick Augustino, East Side Restaurant: I couldn't buy this ironwork in good times. I couldn't touch it. Everybody would be buying ironwork. Now no one's buying iron work. I am. I put a bid out there. I'm going to get a real good price to keep people working.

He says other contractors, hungry for work, cut him a better deal and the permitting process was easier because the city is processing fewer of them. Its also allowed him to advertise more. East Side billboards seem to be everywhere.

Mayor Timothy Stewart, R-New Britain, CT.: You can drive on any highway in the state of Connecticut and New York and Massachusetts and find the East Side Restaurant on it somewhere. I'll be in Ansonia, I'll be in Bridgeport and I'll see East Side Restaurant, ticki-tacki, come to New Britain. That's a great thing.

Economists are saying the recession is over. Lori Fongemie, Nick Augustino and Mayor Timothy Stewart will all tell you that its not. Not in New Britain. But they're getting by and looking forward to better times ahead.