CT banking $1.1M on two employers

The state's economic development fund has agreed to lend $1.1 million to expand a Southington cabinet maker and a New Britain bindery.

The Connecticut Development Authority said it will advance $750,000 to Apple Valley Woodworks in Southington.

The money, combined with funding from the Small Business Administration, will enable Apple Valley to install new equipment and software that will reduce both production costs and turnaround times, officials said. Apple Valley plans to expand its payroll from 91 workers to 100.

Connecticut Valley Bindery, a 25-year-old New Britain employer, is getting a $296,000 direct state loan to buy machinery and equipment to boost productivity and revenues from the variety of finishing services it provides to the printing industry. It has 34 full-time workers.