The state of Connecticut is awarding a plastic food packaging manufacturer financial aid to help the company expand. The expansion will improve operations and 18 new positions. It currently employs approximately 200 people.
Inline Plastics is receiving a 10 year, $500,000 loan at 2 percent from Connecticut's Department of Economic and Community Development. The state's Development Authority will lend the company an additional $300,000. Inline will use the funds to purchase and install new machinery, equipment and make other improvements, according to Bloomberg.
"Inline Plastics has been contributing to Connecticut's economy for many years," said Connecticut Governor Dan Malloy, Packaging Digest noted.
"The state's financial support will ensure the company will stay in Connecticut and continue to invest and grow here," he added.
Inline Plastics is a 42-year-old manufacturer of food packaging, primarily for baked goods, deli items, fresh produce and candy. Its headquarters are in Connecticut, with additional sites located in Utah and Georgia.