EDAC Technologies Corporation, a designer, manufacturer and servicer of precision components for aerospace and industrial applications, purchased an 181,000ft², $2.65 million, manufacturing facility in Plainville, CT.
The firm plans to spend a total of $3.8 million on improvements to the 15-acre property, where it will consolidate four of its divisions currently housed in separate locations in nearby Farmington. The site was the former home to GE Industrial Solutions.
Connecticut Governor Dannel Malloy and the Department of Economic and Community Development approved a $2 million low-interest loan for EDAC under the state's Targeted Brownfield Development Loan Program. Brownfield Redevelopment Funds will be used by the Company for environmental investigation, remediation, abatement, and engineering. The goal of the loan program is to promote industrial development and to retain and expand jobs in the state of Connecticut.
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