HABCO Industries Expands Its Glastonbury, Connecticut, Operations Center
“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.”
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