Manchester’s Bob’s Discount Furniture said Tuesday it will expand in its hometown by nearly doubling its footprint in the city, while creating 125 new jobs in the next five years with backing from the state.
The state Department of Economic and Community Development will provide a 10-year, $7 million low-interest loan to support the project. State funding may be used for machinery and equipment and leasehold improvements. In addition, the company is eligible for a $1.7 million grant to train employees and up to $11 million in tax credits through the Urban and Industrial Sites Reinvestment Tax Credit Program.
The company is planning to build a new 103,000 square foot building adjacent to its current 90,000 square-foot-facility in Manchester. The new building will accommodate future growth and serve the company’s long-term operating requirements — consolidating management and administrative functions of the business from across other states within a single dedicated corporate campus here in Connecticut.
The proposed development is subject to further local and state approvals, which the company will initiate this spring.
