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STATE OF CONNECTICUT EXECUTIVE CHAMBERS HARTFORD, CONNECTICUT 06106 |
M. Jodi Rell Governor |
FOR IMMEDIATE RELEASE February 12, 2010
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Contact: 860-524-7313
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Governor Rell: State Financing to Help
Bloomfield, New Britain Companies Retain and Create Jobs
Governor M. Jodi Rell announced today that the Connecticut Development Authority (CDA) Board of Directors has approved $1 million in financing for two Connecticut businesses.
“We continue to focus on the small businesses that are an essential source of jobs,” said Governor Rell. “By supporting Connecticut businesses during these difficult times, we are helping save jobs in the short-term while paving the way for long-term success.”
The CDA has approved a loan guarantee for $750,000 of new capital for Bloomfield-based Finlay Printing, LLC (www.finlay.com). Finlay is a full service commercial printer founded in Hartford in 1876. Finlay staffs approximately 70 full-time employees with benefits. The funds will help Finlay retain its employees and help pay for operating expenses, in partnership with TD Bank.
The CDA has also approved a direct loan of $250,000 for Metalform, LLC of New Britain (www.metalformcompany.com). Metalform is a manufacturing company that specializes in metal stamping, deep drawing and cold heading metal fabrication processes commonly used in firearms, electrical wiring and connectors, as well as other metal components for various industries. The loan from CDA will be used for working capital and will help the new management team retain and increase the company’s staff of 35 full-time employees.
“Both of these companies have been providing their customers with great products and reliable service for many years,” said Marie O’Brien, president of the Connecticut Development Authority. “
The Connecticut Development Authority is a member of the state’s economic development team, stimulating investment in commercial and industrial businesses and retaining and creating jobs that contribute to the state’s economy, technology base, intellectual capital and infrastructure. To learn more about the CDA, please visit www.ctcda.com.
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