CT: Machining Co., TOMZ, to Invest $2.3M to Build Training Center, Add Jobs
7 Aug, 2014
Governor Dannel P. Malloy visited TOMZ Corporation, one of the leading machining companies in the state, to announce the company will expand and build a new training center at its existing 95,000-square-foot manufacturing facility in Berlin. As part of the $2.3 million project, TOMZ will increase its production to meet growing demand and add 30 new jobs to its current workforce of 123 employees.
“As companies like United Technologies, Boeing, and Airbus expect production levels to increase in the next few years, Connecticut’s network of supply companies must be prepared to meet their demand,” Governor Malloy said. “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. 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.”
TOMZ will receive a $711,533 loan through the state Department of Economic and Community Development’s (DECD) Manufacturing Assistance Act to acquire new machinery and assist the company with the construction of a new training area equipped with state-of-the-art machining technology. DECD will provide TOMZ the loan at an interest rate of two percent for ten years, with principal and interest deferred for two years. TOMZ will be eligible for loan forgiveness of $350,000 if it meets its job retention and creation targets.
“Working in partnership with the state, our local technical high schools, and our community colleges, our training academy initiative will help us build the workforce we need, and support the future of Connecticut’s aerospace, medical, and high-tech industries,” said TOMZ Vice President Tom Matulaniec. “Governor Malloy and Majority Leader Aresimowicz recognize the need for a highly skilled advanced manufacturing workforce, and TOMZ Corporation is grateful for their support of our efforts.”
Founded in 1988, TOMZ manufactures parts for large medical device, healthcare, laboratory diagnostic and aerospace companies. TOMZ currently works in partnership with regional vocational technical schools to train and recruit entry-level machinists and is building the training center as part of its ongoing workforce development efforts. The State Bond Commission approved the funding for the project at its last meeting on July 25.
“Governor Malloy has been a true leader when it comes to investing in our state’s economic development,” House Majority Leader Joe Aresimowicz (D-Berlin) said. “He doesn’t just talk about working with Connecticut companies to create new jobs, he takes the action steps necessary to make sure that our corporations stay and grow in Connecticut.”
In the most recent legislative session, Governor Malloy introduced and signed legislation that invests $30 million to establish a new Advanced Manufacturing Fund to assist Connecticut manufacturers with meeting growing supply chain demand and creating jobs.
Specifically, the Advanced Manufacturing Fund will help companies modernize and grow, purchase equipment and develop new technologies, provide access to training and specialized education for workers and support an increase in federally funded research efforts at Connecticut’s universities and colleges. The fund will give priority to companies located in forty-two communities that are designated as historic manufacturing hubs.