From Transport Topics.
A Pennsylvania-based truck building company is the latest firm to invest its expansion efforts in Plainfield, Conn.
The state Bond Commission on Feb. 16 approved a $4 million loan to Morgan Truck Body, which builds dry freight and refrigerated truck bodies for companies throughout the country. The company plans to construct a $19 million manufacturing plant that is expected to create more than 100 new jobs, according to bond commission minutes.
The loan is structured with an interest rate of 3.25% for 10 years, with the principal deferred for five years. But if the company meets its goal of creating 120 jobs within three years, it will be eligible for loan forgiveness, commission members said.
Read the full story online.