West Hartford Manufacturing Company to Expand, Grow CT Jobs: Gov. Malloy

HARTFORD, CT – Governor Dannel P. Malloy announced Friday that Colt’s Manufacturing Company is purchasing its West Hartford headquarters and manufacturing facility and making new investments to expand operations and grow jobs in Connecticut.

The acquisition of this property is a key part of the company’s growth strategy and is part of a $23 million project by Colt that targets the retention of its current workforce of 600 employees. The acquisition will also lead to the creation of an additional 100 jobs at the location over the next five years, according to a release.

Colt has designed and manufactured firearms in Connecticut since 1847. Today, the company serves military, law enforcement and civilian customers and spends tens of millions of dollars annually on suppliers, service providers and other businesses throughout Connecticut.

“This means hundreds of good paying manufacturing jobs for the people of our state,” Malloy said in a release. “Colt is an industry leader whose brand is recognized worldwide. The company was founded nearly two centuries ago here in Connecticut, and this planned expansion will ensure that they remain headquartered here.”

Last year, Colt emerged from Chapter 11 reorganization and is now positioning itself for growth. Acquiring the headquarters and manufacturing facility will enable the company to control its destiny and make the necessary further investments in its future.

“Colt is a proud part of Connecticut history and we are committed to our employees and the community,” Colt CEO Dennis Veilleux said in a release. “We are working hard to transform our business to better serve our customers and carry on Colt’s tradition of quality and excellence. Acquiring our headquarters and facility is a key part of this strategy.”

In its ongoing support of firearms safety education, the company is initiating the following measures:

• Financial support for Project ChildSafe;
• Sponsorship of seminars in support of Connecticut law enforcement firearms safety initiatives;
• The inclusion of safety messaging in key marketing initiatives; and
• The addition of a safety section on the Colt website that will include a series of safety videos; a focus on safe firearms handling, safety at the range, and safe storage in the home; and links to key sources of additional safety information published by National Shooting Sports Foundation, National Rifle Association and other reputable sources.

The Department of Economic and Community Development (DECD) is supporting the expansion project through a $10 million loan, with up to $2 million forgiven if certain job milestones are met. State funds will be used to help in the acquisition of the manufacturing facility and the land, which has a total price of $13 million.

“Colt, one of America’s most iconic brands, has deep roots in Connecticut,” DECD Commissioner Catherine Smith said in a release. “This project protects 600 manufacturing jobs and ensures that the next chapter of the company’s storied history is written right here in Connecticut.”

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