A South Windsor biomedical firm is getting $300,000 in state small business aid that will allow it to hire 12 workers — doubling its staff, authorities say.
Oxford Performance Materials LLC is the first company funded in the state’s new Small Business Express Program, the governor’s office said Wednesday.
Oxford makes plastic medical implant devices. It recently moved offices and fabrication facilities from Enfield.
The firm will use state money to make facility improvements and buy machinery and equipment, authorities said.
The Department of Economic and Community Development is providing Oxford a $200,000 loan at a rate of 2.5 percent for five years and a $100,000 grant to support its $1.8 million expansion project.Â
The state’s EXP program provides $100 million to leverage funding for small businesses.Â
The program offers loans and grants to Connecticut companies with less than 50 employees.
