Press Releases
07/25/2013
Gov. Malloy: Flanagan Industries Expanding in Glastonbury
Aerospace Manufacturer Consolidating Two Facilities, Hiring 20
(HARTFORD, CT) - Governor Dannel P. Malloy today announced a $2.5 million loan to assist Flanagan Brothers, Inc. (doing business as Flanagan Industries), a second-generation jet engine and ground turbine component manufacturer in Glastonbury. Flanagan has manufacturing operations at two separate locations in Glastonbury-25 Mill Street and 911 New London Turnpike-and plans to consolidate them into a new building at 81 National Drive in Glastonbury and add 20 new jobs.
"The aerospace sector is poised for significant growth over the next decade and Connecticut's aerospace industry is perfectly positioned to provide a large share of the components that will be needed," said Governor Malloy. "Supporting high-tech manufacturing growth and expansion here in our state means more good paying jobs with good benefits, and means Connecticut stays competitive in the global marketplace."
Flanagan currently employs 88 people and manufactures complex engine cases, assemblies, and components to specific tolerances for aerospace companies. The Department of Economic and Community Development (DECD) will provide a $2.5 million loan at 2 percent for a term of 10 years as part of a $6.5 million expansion project that will help Flanagan meet increasing work orders from Pratt and Whitney and General Electric.
"The department is proud to support one of Connecticut's homegrown aerospace companies," said DECD Commissioner Catherine Smith. "Flanagan Industries, one of the regular exhibitors at the Paris Air Show, is a great example of the kind of innovative aerospace companies that call Connecticut home."
The company expects to hire 20 new workers, will make leasehold improvements to the new building in order to accommodate their heavy machinery, and will purchase $3.5 million in new machinery and equipment. This project will also create 24 construction jobs and 29 support jobs. If the company retains its existing 88 employees and creates another 20 jobs within two years, it will be eligible for $1.25 million in loan forgiveness.
"I've toured the Flanagan facilities on a number of occasions, and I've met many of their employees. I've been a strong advocate for their business expansion for a long time," said State Senator Steve Cassano (D-Manchester). "Not only are the Flanagan's a first-class manufacturing company, they are a first-class family that has been involved in the Glastonbury community for a long time. This is wonderful news for Glastonbury and for the future of high-tech job growth in Connecticut."
"It's great to see the state creating opportunities for small businesses to expand high tech jobs right here at home," said State Representative Joe Diminico (D-Glastonbury, Manchester). "Keeping these jobs and small businesses in Connecticut is just as important as attracting new businesses to our state."
"Flanagan Industries are an integral part of the Glastonbury community. They have made a mark in the aerospace industry. Flanagan Industries does our town and our state proud. They have contributed to the work force and this expansion will enable them to achieve their goals and contribute to our state's economy," said State Representative Prasad Srinivasan (R-Glastonbury). "The loan forgiveness program requires achievable benchmarks which will promote new high tech manufacturing jobs in Glastonbury and help turn around our economy. By supporting Flanagan Industries we are supporting expansion of the job market in our state."
Funding will be voted on during the next State Bond Commission meeting on July 26, 2013.