Hundreds of jobs could be coming to New Britain as a Connecticut company eyes a big expansion.
Polamer Precision started in Newington in 1997 and eventually moved its headquarters and most of its manufacturing to New Britain’s Pinnacle Business Park.
Wednesday its CEO, Chris Galic, announced the company’s intention to purchase the 27 acres of undeveloped space in the city’s business park.
The city says it will sell the property for $1.1 million.
Galik said the company first started looking at expanding three months ago when it signed a big contract with Rolls Royce for its aerospace engine components.
The company counts Pratt & Whitney and GE among its other big contracts, but said this expansion will allow it to take government work as well.
Over the next seven years, Galic plans to build three more facilities in the business park for a total of 600,000 square feet of manufacturing space.
That also means the addition of 460 jobs, to bring Polamer’s total workforce to 600 people. Galic said they are looking to hire more engineers, truck drivers, and administrative employees in addition to the plant workers.
“We’re hiring as we speak. So, the growth and expansion continues. We’re still adding more equipment and more employees to our current facility,” said Galic. “We will probably break ground within two years on the first building and this is going to be anywhere between 150,000 and 200,000 square feet.”
A new contract with Rolls Royce led to the immediate need to expand the company’s workforce , according to Galic.
He said their Newington property will stay open but become fully devoted to research and development while the New Britain facility will be the manufacturing hub.
It’s not a done deal yet. The city says it is negotiating a finance package with the company that will likely tie tax incentives to job creation.
City officials said the incentives the company will be offered will depend on the investment Polamer Precision is willing to commit to.
“It takes a lot of commitment, a lot of hard work to make sure that our business community is expanding and that we’re creating an environment where businesses like Polamer can grow and thrive. This isn’t just for the city of New Britain. This is big for the state of Connecticut, too,” said Mayor Erin Stewart.
While many companies have made headlines for leaving Connecticut, Galik said Polamer Precision has been insulated from changes in Connecticut’s business climate and the minimum wage increase because it has automated its processes, relying on machines as well as people.
However, with the addition of three more facilities and the potential for more contracts including government work, he expects the company’s need for a larger workforce to grow.