June 16, 2012
LOCAL BUSINESS QUALIFIES FOR STATE MATCHING GRANT
State Representative Joseph Serra, State Senator Paul Doyle (D-Wethersfield) and Governor Dannel P. Malloy announced that a Middletown company has been awarded a grant from the state’s Small Business Express Program (EXP). The program was created as a part of the bipartisan Jobs Bill passed by the legislature in late 2011 to encourage business expansion and job growth.
Ferazzoli Imports of New England, Inc., a Middletown importer, distributor, and fabricator of ceramic porcelain and stone, is investing $305,000 and receiving a matching state grant of $100,000. The funds will be invested in the purchase and installation of daylight-harvesting, energy-efficient lights in the company’s warehouse. Ferazzoli will retain 43 jobs.
“It is great to see another Middletown company growing in our community and taking advantage of the new business assistance programs we put in place,” said Rep. Serra, who recently toured the company with Sen. Doyle. “These incentives help retain jobs, encourage long-term economic growth and are good investments for taxpayers.”
“Green technology is the way of the future, and today Ferazzoli Imports shows that embracing energy efficiency can be a smart investment,” Sen. Doyle said. “This is why we created the Small Business Express Program in the first place, to give local manufacturers the support they need to grow their business and create jobs.”
Jerry Martorelli, owner of Ferazzoli Imports, talked about the benefits of Connecticut-based manufacturers coming together to support each other in their business endeavors.
“Our main competitors are the big-box home improvement stores that do almost all of their stone fabrication out of state,” said Mr. Martorelli. “This Small Business Express grant will help us install a new energy-efficient light system that will reduce out energy costs and our carbon footprint and let us display our product in a more natural light. And by purchasing the system from another Connecticut manufacturer, we are supporting our local economy and growing jobs right here in the communities where we live.”
In total, EXP will provide $100 million to help the state’s small businesses hire more employees and fund capital investments. The program, administered by the Department of Economic and Community Development (DECD), offers loans and matching grants to Connecticut companies with fewer than 50 employees at the time of application.
“Established companies like these are mainstays of communities across Connecticut, and the Small Business Express program supports their efforts to strengthen and build their businesses,” Governor Malloy said.
For more information on EXP or to apply for the program, visit the Small Business Express Program website or contact Michelle Lugo at DECD at 860-270-8052 or Michelle.Lugo@ct.gov.