June 14, 2012
SMALL BUSINESS PROGRAM SUCCESS
State Rep. Henry Genga hailed an announcement today by Governor Dannel P. Malloy that an East Hartford technology company has qualified for assistance through the state’s Small Business Express (EXP) program, which will help the company hire six new employees and retain 16 positions.
ForeSite Technologies Inc. of East Hartford is an information technology solutions provider that is preparing to expand. The company is investing $425,000 and will receive a state loan of $250,000. The funds will be invested in computer software and equipment, training, marketing and contractual services for technology audits, network monitoring and network and desktop support.
“This assistance demonstrates an excellent collaboration between our state government and small businesses to provide incentives so they may create jobs like this,” Genga said.
ForeSite last year was named as one of America’s fastest-growing, privately held companies, and company executives said the state assistance will allow them to add six new jobs and retain 16 positions.
The state program was created as a part of the bipartisan jobs-creation bill passed during last year’s jobs special session to encourage business expansion and job growth.
“The Small Business Express program recognizes the importance of small companies in Connecticut, both in their impact on the economy and their ability to push the dial on innovation and emerging technologies,” Governor Malloy said. “By providing access to capital, we can help these businesses tackle the most important issue of the day – job creation.”
In total, EXP will provide $100 million to help the state’s small businesses hire more employees and fund capital investments. The program, administered by the Department of Economic and Community Development (DECD), offers loans and matching grants to Connecticut small businesses.
For more information on EXP or to apply for the program, visit the Small Business Express Program website or contact Michelle Lugo of DECD at 860-270-8052.