Cheshire Companies Receive Loans for Expansion
The State Bond Commission has approved loans to assist two Cheshire companies, EDAC Technologies and Marion Manufacturing, in expanding and creating more jobs.
EDAC Technologies, which engineers and manufactures components for the aerospace, commercial, medical, industrial and machine tool markets, received as a $4.5 million loan as part of Connecticut’s First Five program. Under the loan agreement, the company will retain 349 jobs and create 200 new jobs at its Cheshire facility.
Marion Manufacturing, a company that makes metal parts used in the cable television, aerospace and automotive industries, received a $225,000 loan under the state’s Small Business Express program.
Manufacturers like EDAC Technologies and Marion Manufacturing are essential to Connecticut’s future economic growth, and this agreement will bring additional well-paying, skilled jobs into Cheshire. Supporting our manufacturers and keeping them here in Connecticut is important to the health of our economy.
You can learn more in this article from the New Haven Register.