Contact: Andrew Ammirati
February 24, 2012
CROMWELL—State Senator Paul Doyle (D-Wethersfield) welcomed news this week that local manufacturer GKN Aerospace was awarded a 10-year $2 million forgivable loan from the state Department of Economic and Community Development.
The loan will enable GKN Aerospace, a manufacturer of engine parts for military and civilian aviation, to expand its facility in Cromwell by renovating a vacant building and leasing a portion of it out. The $2 million loan is eligible for forgiveness if certain hiring goals are met over the next decade. GKN plans to hire 60 people in the next three years and more workers in succeeding years.
“This deal is good for business, it’s good for the economy and it’s good for the scores of workers who will be hired by this growing precision manufacturer,” Senator Doyle said. “In light of the recent trend of manufacturing jobs moving off shore, I am truly appreciative of GKN's commitment to keep jobs in Connecticut and in the United States. The company’s plan for expansion is a success story that I hope to see repeated in cities and towns across Connecticut. The science and technology sector is a bright spot in the state’s economic and job growth future.”
Senator Doyle joined Governor Dannel P. Malloy for a ground-breaking ceremony Thursday at the site of the expansion.
GKN Aerospace, which currently has about 100 employees, has been located in Cromwell for nine years. According to its expansion plan, GKN will increase its usable space by 67 percent, allowing the company to work on more contracts, increase sales and create more jobs. Part of the expansion will be set aside for a potential out-of-state supplier to relocate into Connecticut in five years.
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