Monday, May 4, 2015

Bond Commission OKs $1.75 million for Farrell Corp. in Ansonia

By Jean Falbo-Sosnovich
Register Correspondent

ANSONIA >> One of the city’s longest-standing businesses, Farrel Corp., got a big boost from the state this week to help expand its headquarters here.

According to a press release from state Rep. Linda Gentile, D-Ansonia/Derby and state Sen. Joe Crisco Jr., D-Woodbridge, the state Bond Commission approved a $1.75 million loan to the Farrel Pomini Co., which will be forgiven if the company makes good on its promise to retain and create jobs.

The company will retain 79 jobs, and plans to create five new ones when the expansion to the Fountain Lake Commerce Park is complete later this year.

“I want to thank the governor for his continued commitment to manufacturing in the Naugatuck Valley,” Gentile said. “He understands the importance of this once, very vibrant industry and appreciates not only the economic impact of maintaining this company in our community, but also the historical significance of keeping this industry where its’ origin is.

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