Senator Terry Gerratana (D-New Britain) joined New Britain’s legislative delegation today in announcing the imminent approval of state investment in the city. The funds, which are expected to be approved when the state bond commission meets on Tuesday, July 12, will allow for the expansion of Polamar Precision’s manufacturing facilities, the creation of new affordable housing units, and the construction of a new monument honoring the city’s veterans.
“I am glad that we have been successful in securing this additional funding for the city of New Britain, which will help us grow jobs, fight homelessness and honor our veterans,” said Senator Gerratana. “Polamar Precision has been a great neighbor and major employer in New Britain. By supporting their growth we are ensuring hundreds of new, good-paying jobs in our city which will help put more people to work and generate new economic activity in the area. Establishing new supportive and affordable housing opportunities will help more people escape homelessness and poverty, allowing them to become more independent as they look to improve their lives.”
“I am pleased the state prioritized these much needed critical, affordable and supportive housing projects for New Britain,” Representative Bobby Sanchez said. “I am also particularly thankful for the $300,000 allocation for the construction of a monument to honor our beloved Borinqueneers. I am proud to have championed this project in Hartford, along with many supporters and advocates that helped us during the process.”
“The state’s support of these projects is an example of how we can strategically support growth in this city,’ Representative Rick Lopes said. “These funds will support business expansion, job growth and fight homelessness, three initiatives that are crucial to the future of New Britain.”
“Housing and manufacturing are two areas where we’ve continued to make critical investments—and areas where we continue to make strides. We are pleased to support the New Britain community through these efforts and through this funding,” said Governor Dannel P. Malloy.
Polamar Precision, Inc., a New Britain-based manufacturer of engine and airframe components will receive $500,000 in grants and a $1.9 million loan. These funds will assist Polamar with machinery and equipment for the expansion of its facilities in New Britain. As a result of this expansion, the company will retain 100 jobs and create 200 new jobs within three years.
Another loan will be made available to a housing manufacturer in New Britain to assist with the development of new housing units. This $1.9 million loan will be used to develop 14 new units, including 12 affordable units of rental housing at 477 Columbus Boulevard in New Britain. Additionally, the Friendship Service Center of New Britain, Inc. will receive a $2.1 million grant to assist with the construction of eleven units of supportive housing at 180 North Street in New Britain.
Finally, a $300,000 grant will be provided to the city of New Britain for the construction of a monument to the 65th Infantry Regiment. Members of this regiment, nicknamed “The Borinqueneers,” have fought in World War I, World War II, the Korean War, and the post-9/11 military conflicts. The Borinqueneers were the first body of native troops in Puerto Rico to fight in the United States army.