HABCO Industries Expands Its Glastonbury, Connecticut, Operations Center
03/13/2015
“Today is another example of Connecticut’s commitment to the aerospace industry, leveraging this strategic relationship to benefit our state. HABCO is one of hundreds of small aerospace manufacturers that will be hiring over the next several years, and Connecticut is pleased to be a partner in its growth,” Governor Dannel P. Malloy said.
“We are proud to have the confidence of, and partnership with, the state of Connecticut. We’re now in position to make the investments in our manufacturing and IT infrastructure we need to pursue our ambitious business strategy and realize the tremendous growth potential that the aerospace industry presents going forward,” stated Brian Montanari, President/CEO. “It demonstrates that Connecticut is creating a business-friendly environment that attracts investment, spurs job growth, and helps companies such as HABCO to become more competitive in the global marketplace.”
The state will support the project with a $2 million loan from the Connecticut Department of Economic and Community Development, at an interest rate of 2 percent for a term of 10 years. DECD funding will be used to purchase manufacturing equipment such as computer numeric controlled (CNC) lathes, five axis milling machines, a tube bender, a powder coat system, enterprise resource planning (ERP) software as well as training for current and new employees.
“This funding will provide HABCO with the employees, equipment, training, and infrastructure to remain a strong partner in Connecticut’s future aerospace growth plans,” said DECD Commissioner Catherine Smith. “And a strong manufacturing sector is crucial to a strong overall economy.”
Project Announcements
AESC Expands Florence, South Carolina, Operations
03/28/2024
Alticor Expands Ada Township, Michigan, Operations
03/27/2024
Eastman Plans Longview, Texas, Production Operations
03/27/2024
DHL Supply Chain-Vantage Data Centers NV11 Plan Nevada Operations
03/26/2024
Big Jet Expands Pittsburgh, Pennsylvania, Operations
03/26/2024
Landmark Ceramics UST Expands Mt. Pleasant, Tennessee, Operations
03/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Logistics Analysis That Drives Industrial Site Selection
Q4 2023
-
Manufacturing Momentum Is Building
Q1 2024
-
Technology’s Influence on Workforce Development
Workforce Q4 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023