In an unusual departure, Connecticut is issuing a $3.5 million loan to a New London-area manufacturer in part to help it acquire an out-of-state business, while adding up to 85 jobs here.
Uncasville-based Thomas G. Faria Corp. is getting a 10-year loan at 2 percent interest from the Connecticut Department of Economic and Community Development.
Faria makes instruments for marine vessels and military, industrial and recreational vehicles, with a current workforce numbering 150 people. Its customers over the years have included Ford Motor Co., Harley Davidson and Caterpillar.
“Manufacturing is a critical part of Connecticut’s economic recovery,” said Gov. Dannel P. Malloy, in a prepared statement. “This investment demonstrates our commitment to strengthening and expanding our manufacturing base, and creating good jobs in Connecticut.”
Malloy’s office did not immediately identify the name and location of the company Faria is acquiring.
