Federation of Connecticut Taxpayer Organizations

State officials are poised to release millions of dollars in economic development loans and grants to companies moving to the state, relocating within the state, and expanding, when the State Bond Commission meets Wednesday.

In one vote, the commission will approve $65.2 million in subsidies. That includes:

� $26 million in loans, grants, and tax credits to Alexion Pharmaceuticals to move 368 employees from Cheshire to New Haven and hire 300 more.

� $19.1 million in a loan to Sustainable Building Systems � a metal manufacturer � to move to North Haven. The first $10 million of the loan would be forgiven if the company creates 208 jobs within two years.

� $6.5 million for grants and loans to the Charter Communications Holding Co. to move its headquarters from St. Louis to Stamford. The $4.5 million loan would be forgiven if the company keeps 260 franchise jobs and adds 127 corporate headquarters jobs within three years. Charter would get an extra $2 million in grants if it adds more jobs by the end of 2015.

� $3.5 million in a loan to the Thomas G. Faria Corp., which makes engine monitoring equipment. The company would move its out-of-state operations to Montville and plans to add 85 jobs. The loan would be forgiven up to $1.75 million if the company meets goals over 30 months until it reaches 236 total jobs.

� $2.75 million in a loan to H. Krevit & Co., which makes industrial bleach and other chemicals in New Haven. The company plans to create 10 new jobs.

� $2.3 million in a grant to East Hartford company CareCentrix to help the company move to Hartford. The company would get up to $24 million in grants over five years if it meets yearly goals and adds 503 jobs.

� $2.25 million in grants to Morristown, N.J., company Durata Therapeutics to set up in Branford. The company plans to add 80 jobs by 2016.

� $1.5 million in a loan to C&M Technologies, which makes custom cables and cable assemblies, to buy equipment for its facility in Plainfield. The loan would be forgiven if the company adds 21 new jobs by the end of 2014.

� $1.3 million in a loan to Infinity Hall LLC to build a music hall and bistro at the Front Street development in Hartford. The first $1 million of the loan would be forgiven if the company keeps its 53 jobs and adds 34 among its operations in Hartford, Norfolk, and Farmington.

Some of the deals were negotiated by Gov. Dannel P. Malloy, a Democrat, as part of his �First Five� economic development program. Others are being funded through other accounts approved for bonding by the state legislature.
Malloy chairs the Bond Commission and sets its agenda. The commission releases state money raised by borrowing. Items on the agenda are expected to pass.

Also on the agenda is an additional $30 million for the state�s Small Business Express program, which gives grants and loans between $10,000 and $100,000 to small businesses looking to add jobs. Lawmakers approved the funding in bipartisan economic development legislation approved last October.

The commission also is expected to release $10 million for the Small Town Economic Assistance Program.

Tolland is slated to get $200,000 for renovations to the Tolland High School athletic field. The money is to install artificial turf and stadium lights and to make it handicapped accessible. Town officials estimate the total cost of the project at $800,000.

And the state�s vocational and technical high schools are poised to receive $3.5 million to buy equipment and machines needed to expand their manufacturing programs.