Bond Commission Loans Give Danbury Firms Expansion Chance

Two Danbury firms were approved for forgivable loans by the state Bond Commission giving them the opportunity to move forward with expansion plans, the News Times reports.

A $10 million loan was approved for Praxair, which plans on using the money to build a $65 million world headquarter in Danbury, the paper reports. $2.5 million of the loan given to Praxair will be forgiven if the company retains 250 employees in the state within five years. The loan would be entirely forgiven if the company maintains all 535 workers employed in the state and hires another 120.

The new location or given timeframe for the construction has not been confirmed.

A partially forgivable loan for the same amount was also approved for FuelCell Energy, which also plans on expanding operations in Danbury, the paper reports.

Read the full story at the News Times.

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