Cannondale Expanding, Moving With State Aid

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Cannondale, a bicycle manufacturer, is expanding its Connecticut workforce by about 50 percent over the next four years, my colleague Ken Gosselin reports.

The state is lending $3 million to Cannondale, two-thirds of which is forgivable if the company adds 75 people over four years.

The state will borrow the money by issuing bonds and lend it to the company at 2 percent over 10 years.

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