Health & Fitness
Small Business Express Grant Will Strengthen Norwalk Company, Retain Jobs
Small Business Express Grant Will Strengthen Norwalk Company, Retain Jobs
TrueNorth Capital, a Norwalk-based company will upgrade its equipment and relocate to a new space in town thanks to a state small business express grant recently announced by Governor Dannel P. Malloy.
The grant is a smart investment by the state that will strengthen a locally owned business and help six employees retain their jobs.
Investments like the one Connecticut is making in TrueNorth Capital in Norwalk keep the economy moving and small businesses alive. This Small Business Express grant will allow a local company to upgrade its equipment and keep six people employed, a real win-win situation in my book. I hope more small businesses follow TrueNorth’s lead and take advantage of the jobs initiatives the legislature created.
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TrueNorth Capital Partners, a financial advisory firm in Norwalk, is upgrading its office equipment and relocating to a new space in town. TrueNorth will receive a grant of $27,500, matching the company’s own funds and will retain six jobs.
Since its beginning in January, the Small Business Express Program has distributed over $11 million to more than 70 companies, as loans or matching grants. The effort has retained hundreds jobs and supported the creation of nearly 400 new positions, according to the state Department of Economic and Community Development, which administers it.
Find out what's happening in Norwalkwith free, real-time updates from Patch.
In total, the Small Business Express program will provide $100 million to help the state’s small businesses hire more employees and fund capital investments. The program offers loans and matching grants to Connecticut companies with not more than 100 employees.
News of the latest investment comes just weeks after the General Assembly passed a comprehensive Jobs Package that will expand state workforce and small business development programs, provide incentives to hire post-9/11 combat veterans, promote Connecticut’s economic and cultural assets, and seek to reward businesses that are willing to relocate jobs from overseas back to Connecticut.
