GOV. MALLOY: INVESTMENT HELPS FAST-GROWING BAKERY IN EAST HARTFORD INCREASE PRODUCTION AND DOUBLE WORKFORCE
(HARTFORD, CT) - Governor Dannel P. Malloy, joined by state and local elected officials, today announced that the State Bond Commission on Friday approved funding for Bakery On Main of East Hartford to relocate to a larger facility in a move that will more than double its workforce. Bakery on Main has committed to creating or retaining 129 jobs for Connecticut residents over the next four years.
"When we invest in small businesses, we invest in stronger communities," said Governor Malloy. "We are putting our state economic development tools to work to assist small businesses like Bakery on Main in their efforts to grow, create new jobs and take their operations to the next level."
After outgrowing its current building, Bakery On Main will move to a new 111,000 square-foot facility at 127 Park Avenue to increase capacity, which will require 70 new employees for production to remain efficient. The state Department of Economic and Community Development (DECD) will provide a $3 million, 10-year loan at 2 percent interest to help Bakery On Main engage in leasehold improvements and purchase new state-of-the-art machinery and baking equipment.
"I would like to personally thank DECD, the Town of East Hartford and the state of Connecticut for its support," said Michael Smulders, owner and president of Bakery on Main. "With this expansion, our growth in East Hartford can continue to progress and create new jobs within the community."
According to the terms of the loan, Bakery On Main must retain its existing 59 jobs and add 70 new jobs over the next four years. DECD will forgive $1.5 million of the loan principal if the company meets its job creation requirements. Bakery On Main will contribute $600,000 of its own funding and has secured another $5 million in bank financing.
"Bakery on Main has really become a specialist in gluten-free foods, which is a multi-billion dollar market in the United States," said State Sen. Gary LeBeau. "I'm happy to see them staying and growing right here in East Hartford."
"This is the kind of important investment the state needs to make to help companies - big and small - thrive," state Rep. Tim Larson (D-East Hartford) said. "It's great to see Governor Malloy working hard to help businesses grow and create jobs. The state and local economies are improving and these kinds of investments will pay big dividends for everyone in the long run."
"The town of East Hartford is thrilled to be a partner in the successful expansion of Bakery on Main," said Mayor Marcia A. Leclerc. "The company will be completing a substantial investment in our Enterprise Zone area, and hiring new employees. The growth of our town's industrial base is a great asset in our community that we will continue to build upon."
"Bakery on Main has been a great corporate citizen since it has opened its doors, and with the state's assistance, we are ensuring it will continue to be an asset in East Hartford and the surrounding towns," said DECD commissioner Catherine Smith. "With substantial capital and community investments, and good local jobs for area residents, Bakery on Main is making a tremendous impact in its community."
The Bakery On Main plant is certified Kosher Parve by the Orthodox Union and is certified for organic production. The company is one of the leading suppliers of healthy, gluten free snacks and cereals with its products on shelves in major stores such as Whole Foods, Target, Stop and Shop, Shop Rite, and Highland Park Market. Bakery on Main maintains exceptional quality standards by employing good manufacturing practices including ingredient quality controls, full product traceability, in-house gluten testing, metal detection, standardized allergen and sanitation cleaning procedures.
For Immediate Release: March 4, 2014
Contact: Peter Yazbak
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