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PRESS RELEASE - Downing & Pignatelli Announce State Funding for Carr Metal Products, Inc.
January 14, 2009

SANDISFIELD – State Senator Benjamin B. Downing (D-Pittsfield) and State Representative William “Smitty” Pignatelli (D-Lenox) announce today that Carr Metal Products, Inc. has been awarded a loan by the Massachusetts Community Development Finance Corporation (CDFC) to acquire the necessary manufacturing facility to continue the growth of the business in the Berkshires.

 

Carr Metal Products, Inc., located at 45 Sandisfield Road in Sandisfield, manufactures and assembles metal fuel control system parts for turbines, bearings, nozzles, valves and gears and housings for the aerospace industry.

 

“I am pleased to see the CDFC recognizing a sound investment in the Berkshire economy. With private financing frozen or non-existent, loans like these are crucial to the growth of small businesses - and small business are crucial to the recovery of our economy,” said Downing.

 

The Massachusetts CDFC is a quasi-public corporation, created by the Legislature in 1975 as one of the nation’s first state-level community economic development finance institutions.  CDFC’s mission is to provide financing to small businesses in the Commonwealth to which private capital is not readily available with the purpose of creating or preserving jobs and promoting economic development.

 

Pignatelli said, “In these tough economic times any grant awarded to a small business is certainly welcome news and I am thrilled for Carr Metal Products.”

 

“The people of western Massachusetts are truly fortunate to have such a beneficial resource as the CDFC.  I’m grateful for this opportunity which rewards both my business and my community,” said Paul Campagna, President of Carr Metal Products.  “Without this loan, I faced moving my company out of town, and out of commuting distance for most of our skilled workers.  These employees, many of them my neighbors, have been with the company a long time.”

 

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