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STATE LOAN APPROVED FOR COMPANY RELOCATION

State Representatives Julia B. Wasserman, John Stripp and William J. Varese

have announced the approval of a $500,000 state loan to assist a company that

manufactures film projection equipment with relocating its operations to

Newtown.

The three legislators, who represent Newtown in the House of Representatives,

announced that the State Bond Commission approved the financing for Neumade

Products Corp at its monthly meeting in Hartford. The relocation project is

expected to result in the retention of eight existing jobs and creation of 41

new jobs in Newtown.

Neumade Products Corp, which manufactures film projection equipment, will

relocate operations currently located in New York and New Jersey to Newtown.

The company plans to acquire 10.64 acres of land and build a 60,000 square

foot building.

The $500,000 state loan approved by the Bond Commission will be applied to the

purchase of equipment and machinery. The company also has received approval

for a $3 million loan from the Connecticut Development Authority, the

quasi-public financing arm of the state Department of Economic and Community

Development.