ANNOUNCEMENT 24 Mar 2017
Up to $2 million of the loan may be forgiven.
NUMBER OF INTERVENTIONS
On March 24, 2017 Governor Dannel P. Malloy announced that Colt’s Manufacturing Company is purchasing its West Hartford headquarters and manufacturing facility and making new investments to expand operations and grow jobs in Connecticut. The Department of Economic and Community Development is supporting the expansion project through a $10 million loan, with up to $2 million forgiven if certain job milestones are met. State funds will be used to help in the acquisition of the manufacturing facility and the land, which has a total price of $13 million.