Governor Dannel P. Malloy announced that the state will provide a $5 million loan to support Advance Auto Parts and its plan to establish a distribution facility in Enfield at the former Lego building, a project that will create between 100 and 200 jobs.
The State Bond Commission is expected to approve the funding at its next meeting.
“This expansion is great news for Connecticut, but will be especially celebrated in Enfield where prime warehouse space that has sat idle for years will once again be a thriving contributor to the regional economy,” said Governor Malloy. “This is an excellent investment for Connecticut – Advance Auto Parts will create jobs for residents and generate revenue for Enfield and the state.”
Headquartered in Roanoke, Virginia, Advance Auto Parts, a leading automotive aftermarket retailer of parts, accessories, batteries, and maintenance items, serves both the do-it yourself and professional installer markets. The company operates 3,692 stores in 39 states, Puerto Rico, and the Virgin Islands.
Advance Auto Parts plans to lease 450,000 square feet and invest more than $30 million in the facility in order to ramp up distribution to its northeast business, improving product availability for its customers.
State Rep. David W. Kiner (D-Enfield) said, “This is great news for the town of Enfield. As job creation continues to be my top priority, this loan will not only bring 200 jobs to Enfield but also have a positive effect on surrounding small businesses. I am proud to be part of an effort to help get our residents back to work and improve the economy.”
"This is great news for Enfield, a win/win for our community," said State Representative Kathy Tallarita (D-Enfield). "Reusing an abandoned property for a growing business and creating jobs makes sense both economically and environmentally. I commend Governor Malloy for his effort."
The Department of Economic and Community Development (DECD) will provide a 10-year, $5 million loan at a rate of 2%. DECD funding will go toward the purchase of machinery and equipment. The loan, or a portion of it, may be forgiven if certain job milestones are met.
The State Bond Commission will meet August 31 in the Legislative Office Building in Hartford.