Manufacturing jobs in Connecticut added
Posted on December 4, 2017
The number of manufacturing jobs in Connecticut is growing.
State officials just announced that 13 companies have committed to growing 1,594 new jobs and retaining 2,949 employees across the state utilizing economic development tools designed to increase competitiveness and strengthen support for businesses.
“Our education system and overall quality of life are second to none, and we are home to some of the brightest minds and most productive workers in the world,” Governor Malloy said. “The investments announced today will play a major role in our continuous drive to enhance Connecticut’s economic competitiveness on the national and global scale.”
From Fortune 500 corporations like Terex, XPO Logistics and Xerox to young firms like P2 Science, companies of all sizes are continuing to invest in expansion or relocation projects that are creating jobs in Connecticut,” Department of Economic and Community Development (DECD) Commissioner Catherine Smith said. “The business community sees great value in what our state has to offer and the investments they are making to grow their businesses here are a testament to their belief in the many advantages of doing business in Connecticut. Further, our economic development tools, tailor-made for each company, provide not only capital to help spur the growth, but also favorable returns to the state.”
The companies include:
- Ward Leonard Intermediate Holdings, LLC: The $2.1 million expansion will be supported by a $900,000 loan to assist with machinery and equipment for a new machining cell at its facility in Thomaston. The company will retain 126 jobs and create 20 new jobs.
- EDAC Technologies Corporation: The $121.3 million multi-phase investment will be supported by a $10 million loan to assist with acquisition of machinery and equipment at its facility in Cheshire. The company will retain 349 jobs and create 200 new jobs. Additional loans of $6 million will be provided as milestones are met over each of the next two years. Total state funding for the project is $48 million through Governor Malloy’s First Five Plus Program.
- Xerox Corporation: The $4.9 million company investment will be supported by a $4.4 million loan to assist with leasehold improvements, equipment and related project costs for its newly leased headquarters in Norwalk. The company will retain 150 jobs and create 40 jobs within four years.
- GKN Aerospace Services Structure Corporation: The $40 million program is supported in this phase by a $5 million grant to assist with development and advancement of its capabilities in organic ceramic matrix composites. The company will retain and create 263 jobs within six years. Total grants-in-aid of $20 million will paid in installments through 2018 if the company meets goals for job retention, job creation, manufacturing, research and development, capital expenditures and project milestones with research partners.