Gov. Malloy: State to Support Expansion of Wallingford Manufacturer
BYK's Project Will Grow Operations, Create 37 Jobs
(Hartford, CT) - Governor Dannel P. Malloy today announced the state will provide BYK USA Inc. with $6 million to help the international additives company expand its Wallingford facility and add 37 employees within three years.
"Last year when BYK decided to embark on this $53 million expansion of its Wallingford facility, a move that will increase the company's manufacturing capacity by about 300 percent, it represented the single largest investment outside of the company's home of Germany," said Governor Malloy. "I'm pleased the company sees that its long-term growth lies here in Connecticut and I'm proud to announce our support for this innovative company and its remarkable project."
BYK USA Inc., a subsidiary of Germany-based BYK-Chemie GmbH, researches, develops, and produces additives primarily for the paint, ink, and plastics industries. Additives are chemical substances that - even when added in small quantities - enhance properties like scratch-resistance or surface gloss of products. Through the company's innovations, its additives are being used in areas such as coatings in the architectural, general industrial, wood and furniture, and automotive fields.
"Wallingford and the entire state of Connecticut, as well, are celebrating the news of this project," said Catherine Smith, commissioner of DECD. "This is a company with facilities all over the world, including Europe, South America, Asia and the Middle East. It has been courted by other states all across the country. Yet they see a growing market here. BYK knows Connecticut can deliver a talented and educated workforce, and has the support mechanisms in place that will help the company navigate the many challenges in the global economy."
As part of the project, BYK will construct a 55,000-square-foot, state-of-the-art manufacturing facility, a new applications laboratory, and install new machinery and equipment. The expansion will allow the company to hire an additional 37 employees.
"This money announced by Governor Malloy will allow BYK USA Inc. to expand greatly and it also means 37 new employees," said State Representative Mary Fritz (D-Cheshire/Wallingford). "I feel very strongly that the expansion is terrific for Wallingford and Connecticut."
"BYK USA Inc. is located just down the street from my neighborhood. I'm happy to learn they will be hiring because of the state's investment to grow their business," said Rep. Mary Mushinsky (D-Wallingford).
The Department of Economic and Community Development (DECD) will provide a 10-year, $6 million loan at two percent interest for machinery and equipment. By retaining its current 97 employees and creating the 37 positions, BYK will be eligible for up to $4 million in loan forgiveness.
The State Bond Commission is expected to approve the funding at its September 27 meeting in the Legislative Office Building in Hartford.