Monday, January 5, 2009

Conn. aids AcuCut growth with $800K loan

By Mass High Tech staff

Connecticut Gov. M. Jodi Rell has announced an $800,000 loan for AcuCut Inc., a Southington, Conn.-based industrial laser cutting and electrical discharge machining firm.

Founded in 1978, the company grew into a 30,000 square-foot facility in 1998, employing 56 workers. Now the company says it plans to add 10 new jobs in the next three years and $1 million worth of equipment to enhance production. The state loan will apply to the new machinery.

AcuCut relies on 24-hour facility operation to provide manufacturing for the medical, aerospace and land-based turbine industries.

Last month, the state announced plans to help aerospace company Composite Machining Experts LLC create nine jobs in Meriden, Conn., thanks to a 15-year $270,000 loan.

In November Governor Rell also authorized $350,000 in grants to help bolster the state’s biodiesel infrastructure. The program will distribute $50,000 to local companies that undertake the development of biodiesel and biodiesel distribution facilities in the state.