HARTFORD, Conn. (AP) — A low-cost state loan to train manufacturing workers is drawing support from business groups that say Connecticut is ill-prepared for an increase in aerospace and other high-tech factory work, but some economists are dismissing the complaint as overblown.
Last week, Gov. Dannel P. Malloy announced a 10-year $711,533 loan at 2 percent interest to help TOMZ Corp., a Berlin machining company, expand and build a training center. Principal and interest will be deferred for two years, and TOMZ will be eligible to be forgiven for $350,000 of the loan if it meets job targets.
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