Posted on June 1, 2018
HARTFORD – State Representative Tami Zawistowski (R-61) expressed her support for a loan from the Department of Economic and Community Development to help local manufacturer MB Aerospace. The loan is part of a larger $22 million project undertaken by the company to purchase new equipment and grow their workforce. The state has agreed to provide a $6 million loan and company will be eligible for $2.5 million in loan forgiveness only if they reach their job retention goal of 169 workers and their hiring goal of 97 workers.
MB Aerospace is an advanced manufacturer specializing in complex components for aircraft engines. Their East Granby facility is responsible for the production of new product lines as well as continuing production for specialized low volume and legacy components.
Since the enactment of the compromise budget in 2017 all bonds, such as this loan, are subject to a strict cap of $1.9 billion, far less than previous years.