CT to loan $3M to expanding Windsor manufacturer


Windsor precision parts manufacturer Leipold Inc. will more than double the size of its manufacturing plant and hire as many as 20 new workers over the next four years, with the help of a $3 million state loan, Gov. Dannel P. Malloy's office announced Wednesday.

The Manufacturers Assistance Act loan will help pay for the $8 million expansion, which includes 20 new CNC lathes.

Up to $2 million of the loan is forgiveable, if Leipold creates 20 jobs and retains the 40 it has. The 10-year loan also has other favorable terms: 1 percent interest, with the first six years of principal deferred.

Leipold is a part of the Leipold Group, based in Germany.

From Hartford Business.com

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