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SOUTH WINDSOR, CT-State officials reveal that a $640,000 loan from the Connecticut Development Authority has facilitated the expansion of Keystone Paper & Box Co. The loan has allowed the firm to acquire, renovate and move into the 50,000-sf more modern manufacturing facility.

The company is currently based at 132 Main St. in East Windsor and is now in the process of shifting some manufacturing and HQ operations from that property to the Edwin Road building, says Keystone controller John Goodenow. State officials say that the $640,000 CDA loan, offered in partnership with NewAlliance Bank, has allowed the firm to undertake the expansion initiative that is expected to be complete by the end of this month. The financing was given under the authority’s capital expenditure program that provides a line of credit to the company that can be used over an 18-month period. State officials pegged the expansion project at approximately $2 million.

Gov. M. Jodi Rell says of the state’s hand in the expansion effort, “I applaud Keystone Paper & Box Co.’s growth, and I’m thrilled the CDA was able to help in that growth. We continue to encourage Connecticut companies like Keystone to call CDA whenever they are looking for smart economic development resources.”

Keystone Paper & Box is a shirt box manufacturer founded in 1944. The company manufactures cartons for consumer products such as: hardware, groceries, over-the-counter medicines and specialty beers. Keystone plans to add 20 more employees to its current workforce of 75 in the next five years at its new offices. Goodenow says that Keystone will retain a presence at its 132 Main St. property as well.

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