MERIDEN — The Thompson Sweet Co. is looking for a $500,000 manufacturing mortgage from town to permit it to extend manufacturing strains and modernize its South Vine Road operation.
The Metropolis Council is scheduled to vote on the request when it meets Tuesday evening.
That is the second Meriden Manufacturing Help Program software from Thompson. The corporate obtained an identical mortgage about 15 years in the past when it consolidated its California operation into one location.
“They’ve an excellent observe file of making the funds,” stated Metropolis Financial Improvement Director Joseph Feest. “That is designed for extra manufacturing they usually need to develop a line. It’s a constructive factor.”
Feest, Metropolis Supervisor Tim Coon, metropolis authorized advisors and Metropolis Councilor Mike Rohde, who chairs the Financial Improvement Housing and Zoning Committee, met with Thompson officers concerning the firm’s enlargement and modernization plans. The group voted final week to suggest the deal to the total Metropolis Council. Phrases of the settlement might be a 10-year mortgage with rates of interest set by the financial institution.
Town just isn’t financing the complete enlargement, Feest stated.
Mayor Kevin Scarpati is employed with Thompson Sweet and declined touch upon the mortgage software besides to refer inquiries to Feest. Firm representatives additionally declined remark.
Thompson Sweet Co. has been a metropolis establishment since its founding in 1871. William H. Thompson traveled from Connecticut to Philadelphia to be taught the confectionery commerce from Stephen Whitman, of Whitman Candies, on the age of 17. Upon returning to Connecticut, he opened W.H. Thompson Firm, in a brick constructing at 75 W. Important St., the present web site of Liberty Lagana furnishings retailer.
After a number of strikes to websites on Linsley Avenue and Middle Road, the Thompson household offered the enterprise within the Sixties to Knowlton White. The corporate moved into its present location, 80 S. Vine St., in 1979.
It has between 60 and 80 staff, 75 % of whom are Meriden residents, in line with the council decision outlining the deal. Along with manufacturing all kinds of individually wrapped chocolate candies, Thompson additionally branched out so as to add its calcium enriched product Adora about 15 years in the past. The merchandise are extensively distributed and embrace candies for personal labels.
“These enhancements will enable Thompson to develop model choices, enhance manufacturing capabilities, and make a lot wanted modernizations to the ability thereby retaining 60-80 jobs and implementing a deliberate enhance in workforce, and thus contributing to the financial welfare of the Metropolis,” in line with the decision put forth by Rohde.
“Thompson has been a very long time wonderful employer for a few years,” Rohde stated. “They’ve a big base of staff from low-income populations and rent various staff. They did a big mortgage program to develop manufacturing and demonstrated they’re able to managing a mortgage like that. That’s what this system is for, producers who need to develop their base. “
To be eligible for the MAP mortgage, an organization has to succeed in particular operational and gross sales benchmarks. However Feest desires to regulate a few of the parameters to permit smaller producers to learn from the mortgage program. He plans to convey one thing earlier than the committee this yr.
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