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October 15, 2019Cart


by Fairfield County Business Journal

Gov. Malloy: Manufacturing Innovation Fund showing long-term benefits

To date, the state’s Manufacturing Innovation Fund has assisted nearly 900 companies and invested over $43.7 million to help accelerate growth, cultivate talent and boost investments in innovation, according to Gov. Dannel Malloy and Department of Economic and Community Development Commissioner Catherine Smith.

Created in 2014, the Manufacturing Innovation Fund  supports the growth, innovation, and progress of Connecticut’s advanced manufacturing sector. The program, which is managed by an advisory board consisting of manufacturing leaders from across the state, focuses on distressed communities, with 47 percent of manufacturers residing within 37 designated communities. Those communities include Bridgeport, Norwalk and Stamford.

In 2017 alone, over 4,500 full-time employees completed training that resulted in upgraded skills and increased productivity.

“Advanced manufacturing is and will remain a critical part of Connecticut’s economy and way of life for years to come,” said Malloy. “From our unparalleled talent pipeline to our state-of-the-art programs and equipment, the investments we make today will set our employers up for long-term success.”