Bond panel OKs funding for Davis-Standard
The State Bond Commission approved Tuesday $1.3 million in grants to help the Davis-Standard manufacturing plant in Pawcatuck pay for an expansion expected to add 30 jobs to the local economy within the next two years.
The state Department of Economic and Community Development last month had given approval for the funding, which will be released in stages as job milestones are reached. Plans include by this fall the addition of 15,000 square feet of manufacturing space adjoining the company’s current facility off Route 1.
State Rep. Diana Urban, D-North Stonington, praised the state bonding approval, which will allow Davis-Standard to move all its blown-film manufacturing to the Pawcatuck site. Previously, the company had a location in Gloucester, Mass., where much of the blown-film work to create plastic film for the packaging industry had been done.
“It has been a true pleasure to partner with Davis-Standard on this effort,” Urban said in a statement. “Their commitment to Stonington and the surrounding community is clear.”
Urban said in a follow-up phone interview that she believes the 30-job estimate is a conservative number.
“They don’t see any problems,” she said, referring to Davis-Standard. “They expect to be creating more.”
Davis-Standard, the leading nationwide manufacturer of extrusion machinery, currently employs more than 400 people in Pawcatuck. The company, with local roots dating back to 1848, also has associated sites in the United States, Europe and Asia.
Davis-Standard product lines run the gamut from automotive to health care, and its packaging materials serve both the food-and-beverage and retail industries.
Urban called the bonding money “a sound economic investment” and said the company’s long-term stake in the community “brings greater stability and prosperity to the entire region.”
Gov. Dannel P. Malloy, who chaired the commission meeting, praised Urban’s efforts to expand the state’s manufacturing base.
“We are excited to see the growth of their global headquarters here in our state and the creation of new manufacturing jobs that come with it,” Malloy said in a statement.
The commission approved all bonding proposals that were brought before it Tuesday, including $1 million for an indoor mural in Winsted and a $26.5 million financing package to pay for 11 projects, including a statue of Walter “Doc” Hurley, the late Connecticut sports legend and Hartford leader, according to The Connecticut Mirror.
In addition, $8.85 million was approved for renovations and upgrades at sites including Hartford’s XL Center, The Connecticut Tennis Center in New Haven and the Connecticut Science Center in Hartford.