CT: Governor Malloy Announces $800,000 in Loans to Support Long-time Connecticut Manufacturer
21 Jan, 2011
Inline Plastics Corp. Expansion will Retain 196 Jobs and Create 18
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Governor Dannel P. Malloy recently announced the state is providing $800,000 in loans to help Inline Plastics Corporation expand and improve its operations at its Shelton headquarters.
“Inline Plastics has been contributing to Connecticut’s economy for many years,” Governor Malloy said. “This expansion will allow Inline Plastics to add 18 jobs and improve operations for the existing 196 employees. The state’s financial support will ensure the company will stay in Connecticut and continue to invest and grow here.”
The Department of Economic and Community Development will assist the project with a 10-year, $500,000 loan to purchase and install new machinery and equipment as well as make necessary leasehold improvements to the facility. With the improvements, Inline Plastics will be able to increase its sales and create more employment opportunities.
The Connecticut Development Authority’s Board of Directors voted yesterday to assist the project with a $300,000 loan.
Inline Plastics Corp. is a 42-year-old manufacturer in the thermoformed plastic food packaging industry. Its products are used in the packaging and retailing of food, primarily baked goods, deli items, fresh-cut produce, nuts and candy. The company operates nationally in the United States with two east coast manufacturing and distribution operations and one western operation.
Tom Orkisz, President of Inline Plastics Corp., said, “The assistance we received from DECD made the difference between establishing our new thermoforming line in Connecticut versus our Georgia plant. It was a pleasure to work with DECD; our contact there was determined to land these new jobs in Connecticut, which will enable us to further grow our eastern U.S. business.”
The company maintains its corporate headquarters and primary manufacturing plant in Shelton. Other Connecticut facilities include a warehousing and distribution center in Shelton, and a research and development/engineering department in Milford.