Colt’s Manufacturing Co., the gun maker that emerged from bankruptcy last year, is purchasing its West Hartford headquarters and manufacturing plant as part of a $23 million investment in Connecticut, Gov. Dannel P. Malloy said Friday.
Colt’s intends to keep its workforce of 600 workers and create 100 jobs over five years, Malloy said. The state Department of Economic and Community Development is providing a $10 million loan, with as much as $2 million forgiven if Colt’s meets job milestones.
The manufacturing facility and the land have a price of $13 million.
Colt’s, which sells guns to the military, police and civilian customers, has designed and made manufactured firearms in Connecticut since 1847. The expansion ensures it keeps its headquarters in the state, Malloy said.