Would $2 million help Connecticut small manufacturers create and retain jobs? That amount is expected to be approved by the State Bond Commission at its meeting on Jan. 30.The $2 million is included in the Governor’s $525 million Connecticut Stimulus Package that is part of the Jan. 30 State Bond Commission agenda.
For the way companies outside the state size up potential locations to grow business, see Expansion Management magazine online - state by state the publication lists pros and cons for site selection.
The more than 5,000 manufacturers in Connecticut employ 190,000 people and account for about 12 percent of the gross state product. Manufacturing also accounts for nearly 83 percent of Connecticut exports, one of the strongest and growing economic sectors of the state.
If approved, the stimulus money would fund the Department of Economic and Community Development (DECD) loans and grants of up to $200,000 to manufacturers through the Governor’s Small Manufacturers Competitiveness Fund. Loans can be used for plant expansion, machinery and equipment purchases, relocation, technical support and financial assistance.
