Speaker Aresimowicz Announces Funding For Okay Industries
Speaker of the House Joe Aresimowicz (D – Berlin/Southington) is pleased to announce that the State Bond Commission has approved a $2,500,000 loan to Okay Industries, which has facilities in Berlin and New Britain.
“I’m thrilled that Okay Industries has received this funding that will not only allow them to expand their manufacturing facilities, but also create many new jobs,” said Rep. Aresimowicz. “It is great to see successful companies like Okay Industries investing in our communities and our state. Their commitment to Connecticut reinforces our efforts to continue improving our workforce training programs so we can better meet the needs of employers and retain our highly skilled workforce.”
“We are excited to continue to invest in the most advanced technology and equipment to further enhance Okay’s leadership in innovation,” said Jason Howey, President of Okay Industries. “These investments will grow OKAY’s capabilities for its customers and add to our engineering and technical expertise.”
This funding will provide a loan to Okay Industries, Inc. to assist with the expansion and upgrade of its manufacturing facilities in Berlin and New Britain. The company will retain 210 jobs and create 62 new jobs within three years. The company will be eligible for $1.25 million in loan forgiveness if it meets job creation goals.
Okay Industries, Inc. engineers and manufactures components and subassemblies for OEMs in medical, automotive, defense/firearms, and industrial markets. The company is headquartered in New Britain.
The items were approved by the Bond Commission on Friday, February 16th.