An official announcement from the Connecticut Governor’s office has confirmed that Colt’s Manufacturing Company, the current, official name of the company we all call “Colt”, is purchasing its own headquarters and manufacturing facility in West Hartford Connecticut. Also in the press release from Governor Dannel Malloy was promised retention of Colt’s current 600-employee workforce and the addition of 100 more jobs at the location.
The official press release comes after Colt’s emergence from Chapter 11 bankruptcy reorganization last year and right on the heels of the news that Colt had cut its workforce earlier this month, leading this blogger to suspect that the cuts were part of a larger reorganization of the company staffing.
The announcement from the Governor claims that Colt is now embarking on a $23 million “growth project” which includes the $13 million manufacturing facility and land that Colt has been housed in since moving out of the historic Colt Armory in 1994. The expansion project will be funded partially by a Department of Economic and Community Development loan and, if I am reading between the lines correctly, a substantial amount of public money from the taxpayers of Connecticut.