HARTFORD -- A long-standing Connecticut business is expanding their business presence in Connecticut.
New Britain –based Stanley Black & Decker announced Tuesday they are putting a new advanced manufacturing center in the Hartford. The facility will employ 50 professionals.
“It’s a long-standing Connecticut company making a decision to make Hartford the focus of their future,” said Hartford Mayor Luke Bronin.
Bronin added, “We’re working to position Hartford and Connecticut to be the hub for innovation and reimagining industry in all of our core industries, in insurance, in advanced manufacturing, and in health care.”
The new facility, the Advanced Manufacturing Center of Excellence and an Additive Manufacturing Accelerator in partnership with Techstars, will come with two key components.
The Advanced Manufacturing Center of Excellence will help Stanley Black & Decker develop technologies and processes related to automated manufacturing, cloud computing, artificial intelligence, and more. The Additive Manufacturing Accelerator will be a three-year partnership with Techstars, and the mentorship-driven, entrepreneurial accelerator program set to identify 10 startups in the additive manufacturing space to participate in the program’s first year.
Bronin called this a step in the right direction for both Connecticut and the capital city.
“Every industry is undergoing a tremendous amount of change right now, whether its financial services, whether its advanced manufacturing, whether its health care, those places that are really going to grow and benefit are going to be those places that can make themselves the hub for innovation and that’s why today’s announcement is so significant,” Bronin said.
Stanley Black & Decker has called Connecticut home for 175 years. The company has over 100 global manufacturing facilities globally, 30 nationally, with three located in Connecticut.
"Strong urban cores, and in particular a vibrant capital city, are essential to Connecticut's ability to thrive which is why we decided to locate this important new initiative in Hartford," said Stanley Black & Decker's President and Chief Executive Officer Jim Loree. "Our team has worked closely with Mayor Bronin's office, and we are excited to be a part of building a vibrant, strong capital city.
With the budget now passed, the hard work can begin to solve some of the state's structural fiscal challenges and put the state on a more sound economical path.
We cannot lose the sense of urgency and must recognize that the state is at a critical juncture. As a company founded in New Britain, Connecticut, almost 175 years ago, we have expressed our commitment from a social responsibility perspective to being part of the solution."
Mayor Bronin told FOX61 there are no incentives are tax breaks for the company as part of the new deal.
The new facility will be located in a 23,000 space inside One Constitution Plaza. That space is currently vacant, according to a company’s spokesperson.
For a more detailed look at the work that will go on inside the new facility, click here.