Partnerships highlight Connecticut jobs

Posted on December 4, 2017

A number of partnerships are boosting Connecticut jobs.

A result of recent state efforts to assist businesses in expanding and relocating to Connecticut, 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.

The State Bond Commission today approved $56.8 million in total funding – $41.3 million in loans and $15.5 million in grants – for the expansion and relocation projects, which will leverage $173.1 million of investments in private sector company funds. The companies include:

• Terex Corporation: The $5.5 million project consists of a $1.5 million grant to assist with leasehold improvements for its headquarters in Westport. The company will retain 140 jobs and create 30 jobs within four years.
• XPO Logistics, Inc.: The $5.5 million project is supported by a $2.7 million loan to assist with leasehold improvements and equipment at its facility in Greenwich. The company will retain 23 jobs and create up to 30 new jobs.
• Henkel of America, Inc.: The $50.27 million project is supported by a $10 million loan to assist with relocation of its Laundry and Home Care unit from Arizona to Stamford. In exchange for the funding, the company will retain 678 jobs and create 266 jobs within three years. Total loans of $20 million will be provided in installments through Governor Malloy’s First Five Plus Program.
• Indeed, Inc.: The $26.5 million project is supported by a $7 million loan to assist with leasehold improvements and equipment for expansion in Stamford. The company will retain 700 jobs and create 500 new jobs within nine years.
• Women’s Integrated Network, Inc.: The $6.8 million project is supported by a $1.75 million grant to assist with equipment, software, marketing, and research and development associated with its relocation from White Plains, New York to Greenwich. The company will initially create 58 jobs and create up to 46 additional jobs within five years.
• MW Industries, Inc.: The $8 million project is supported by a $3 million dollar loan to assist with machinery and equipment for relocation to a larger facility in Southington. The company will retain 282 jobs and create 100 new jobs.
• P2 Science, Inc.: The $3.2 million investment is supported by a $1.2 million loan to assist with machinery and equipment for its new specialty chemical plan in Naugatuck. The company will retain four jobs and create 25 jobs within three years.
• Preferred Display, Inc.: The $8.4 million project is supported by a $3 million loan to assist with leasehold improvements, machinery and equipment for relocation from New Jersey and South Windsor and expansion in Enfield. The company will retain 80 jobs and create 80 new jobs. The company will also receive a $1 million loan through DECD’s Revolving Loan Fund.