Greenwich Delegation: Announces Greenwich Business to Stay and Expand with State Help

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HARTFORD– The State Bond Commission authorized a $2.5 million loan through the State Department of Economic and Community Development to Weeden & CO., LP located in Greenwich, State Representatives Livvy R. Floren, R-149th District, Lile R. Gibbons,R-150th District, Fred Camillo, R- 151st District and State Senator L. Scott Frantz, R-36th District, announced today January 30th. Rep. Floren said, ““I want to thank Governor Rell for prioritizing the need to keep jobs – especially jobs in financial services – in Connecticut. This loan assists Weeden to expand and stay in Greenwich rather than have them and the jobs they provide move to New York.” The Company is a financial services firm established in 1976 and will lease additional space in Greenwich to accommodate expansion rater than relocate to New York. This project will retain 148 jobs and create 15 more by 2011. The loan will be provided at an interest rate of 2% for ten years with payments deferred for two years.

“Let’s hope Connecticut can renew its effort to keep jobs in state. Far too often, the state ignores the warning bells of a rising tide. We live in a global economy where not only states but nations compete for jobs. Today ,Greenwich scored a victory,” Rep. Camillo.

Rep. Gibbons said, “Job creation is critical in this economy. Anything the state can do to help firms retain and expand their numbers of employees, is the right direction to take.”

“Along with my fellow Representatives, I am very pleased that the State Bond Commission and the Connecticut Development Authority, whose sole focus is to preserve and create valuable, high paying jobs, was able to help retain a significant number of financial service jobs in Greenwich and help position Weeden & CO for future growth. The company’s decision to remain in Connecticut demonstrates the vitally important partnership between State Government, Quasi Public Agencies and the private sector”, concluded Sen. Frantz.

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