Gov. Dannel P. Malloy stopped by Automotive Core Recycling of Meriden on Monday.
The visit was part of the governor's tour of small businesses around the state participating in the state’s Small Business Express Program (EXP), a program administered by Department of Economic and Community Development that offers grants and matching loans to Connecticut companies with 100 or fewer employees.
Passed with bi-partisan support during the October 2011 Jobs Special Session, the program began with a $100 million investment. To date, EXP has funded 598 applications totaling more than $80 million.
Automotive Core Recycling recycles catalytic converters and received a $250,000 loan. The funding allowed the company to hire one new position and retain 8 jobs.
“Small businesses are the backbone of Connecticut’s economy, and putting in place the tools to increase their competitiveness is critical for economic growth,” said Malloy.
“Through programs like EXP and First Five, we are making it clear that we support business and industry, we will fight for every job in Connecticut, and we will be innovative in responding to the needs of business."
Malloy has asked the legislature to allocate another $100 million to continue the EXP program for an additional two years.
“The grants and loans these companies get through EXP allow them to attract additional private financing, expand operations, and create good paying jobs with good benefits right here in Connecticut," said DECD Commissioner Catherine Smith. "Continuing this program makes sense—it increases the competitiveness of Connecticut’s small businesses, creates jobs in the state, and strengthens our overall economy."
Malloy and Smith also visited Atlantic Canvas and Awning of Manchester, Katalina’s bakery in New Haven and Half Full Brewery, a craft brewer located in Stamford.