CHESHIRE — A wire manufacturer will expand operations to the former Alexion Pharmaceuticals campus on Knotter Drive.
Accel International, which makes high performance conductors for aerospace and electronics, started in Cheshire in 2003 according to the town’s Economic Development Coordinator Jerry Sitko.
“It’s great for them to return,” he said Wednesday.
Accel bought the 75-acre site for $4.475 million earlier this month. The company had moved to Waterbury in 2005 and then to Meriden, where it expanded to include a factory in Indiana.
Dan Chung, Accel senior vice president, said the company will operate the Cheshire facility in addition to Meriden.
“This is going to be an additional facility, where we’re planning to invest over 40 million in (capital expenditures) and hire 120 people,” he said. “We will be maintaining Meriden.”
Chung said there are major renovations needed to convert the former pharmaceutical manufacturing facility. He expects the Cheshire plant will be up and running during the first quarter of next year.
“It allows us to fulfill the needs of our customers,” Chung said.
Accel moved to the North Colony Street location in Meriden after receiving a manufacturing assistance loan of $500,000 and a relocation grant of $15,000.
In 2016, the company received $3 million in state loans, about half of which are forgivable if the company meets certain hiring and retention goals.
Alexion was among Cheshire’s top taxpayers. It moved from town to New Haven in 2016 but the next year announced yet another move to Boston. The company had received millions of dollars in state incentives and loans for its New Haven move and company officials said they’ll pay back everything owed.
Future growth might occur at the Cheshire site, Chung said. The company was making a commitment to the state by locating it’s third factory here.
“Companies have a lot of options these days. We’ve made a commitment to stay here in Connecticut,” he said.