TOMZ Corporation, a manufacturer of medical and areospace devices, will receive a loan of $711,533 through the state Department of Economic and Community Development for its expansion and job creation, Gov. Dannel P. Malloy annnounced during his visit at the Berlin corporation Tuesday.
The company will invest $2.3 million to build a training center and add 30 jobs in ten years. If TOMZ maintains its current 123 employees and creates 15 positions during that time frame, $350,000 of the loan will be forgiven.
The State Bond Commission approved the funding for TOMZ's expansion on July 25. The corporation will start the project when they receive the state funds and will pay off the state loan at 2 percent over ten years once the loan is received.
TOMZ plans to add a classroom to train the new workers, according to vice president Tom Matulaniec, a separate space from the production area where employees can focus on learning skills.
"We are providing leading manufacturers, like TOMZ, with the support they need to expand, increase production and create good-paying jobs with good benefits to counter the shortage of skilled workers in this industry," said Gov. Malloy in the press release. "By building an in-house training center, that's exactly what the TOMZ Corporation is doing. This project will ensure TOMZ has the capabilities and the skilled talent pool to compete both domestically and globally for orders."Copyright © 2015, CT Now