FuelCell Energy’s Torrington operations are under review by state officials stemming from an earlier economic development deal. In 2015, FuelCell Energy received a $10 million low-interest loan from the state Department of Economic and Community Development to support its Torrington facility. The agreement required the company to maintain at least 538 full-time jobs in the […]
FuelCell Energy’s Torrington operations are under review by state officials stemming from an earlier economic development deal.
In 2015, FuelCell Energy received a $10 million low-interest loan from the state Department of Economic and Community Development to support its Torrington facility. The agreement required the company to maintain at least 538 full-time jobs in the state.
The company has since fallen short of that threshold, potentially exposing it to a $2.1 million penalty under the terms of the deal.
DECD spokesman Jim Watson said the state has not yet conducted the required employment audit to determine whether the penalty will be enforced.
FuelCell Energy CEO Jason Few said the company is discussing with the state a proposed expansion as a potential path to meet job growth goals.
