A newly formed company that specializes in making sustainable building panels will open its headquarters at the former Quebecor facility, Gov. Dannel P. Malloy announced today at the State Street site.
According to an official with the new company, the facility in North Haven is expected to be fully operational within a year.
"Today's announcement is about jobs," said Gov. Malloy, who, flanked by business and other elected officials, noted that the new venture is expected to create 408 jobs within four years.
State support for the $97 million project will be provided through the state's First Five program, which is under the aegis of the Department of Economic Development (DECD). The agency will provide a 10-year loan of $19.1 million at two percent interest to the venture. Funding will go toward the purchase of machinery and equipment, according to a release from the governor's office.
The 17.7-acre site is the former home of Quebecor Northeast Graphics USA Quebecor's North Haven facility closed in 2008, taking more than 300 jobs with it. The site, although now owned by the New Jersey-based Mountain Development Corp., has remained vacant since that time.
While expressing his enthusiasm for the new company, First Selectman Michael Freda also said he had learned just yesterday that the company's move to North Haven was official.
According to Catherine Smith, commissioner of DECD, the Arizona arm of the new company had approached the state in March. State and local officials have been in active negotiations with both the DSG and the Weeks Group since that time.