European Brand, Manufacturing In Connecticut, An Example Of State Incentives That Work

Thule, the Swedish outdoors equipment company, was drawn to a hilltop industrial park here two decades ago by the area’s skilled labor, proximity to East Coast airports and mere six-hour time difference with the company’s main offices.

Another reason: In December 1992, the state Department of Economic and Community Development gave Thule a $200,000 grant and a $1 million low-interest loan to set up its U.S. manufacturing operations in the state. And the state’s investment is turning a profit, an outcome that Connecticut hopes to replicate in the more than $100 million in similar deals that the state made last year.

In a period when the state’s manufacturing employment fell 40 percent, Thule’s employment has grown about six-fold. The company has expanded its Connecticut footprint twice, with a third project underway in nearby Beacon Falls.

By BRIAN DOWLING, [email protected] The Hartford Courant

Full Story: http://www.courant.com/business/hc-thule-factory-headquarters-seymour-20130509,0,2976840.story