September 25, 2009

Bristol company gets state cash, owes city back taxes

A Bristol manufacturer that received more than $1.1 million in state-backed loans this week owes nearly $40,000 in unpaid taxes to the city.
BW Manufacturing Co. owes $38,410 in personal property taxes stretching back more than two years and another $791 in motor vehicle taxes, according to the city tax collector’s office.
Gary Weed, president of the company, said Friday it had fallen behind on taxes but arranged a payment schedule with the city to catch up. He said the firm has kept up with the terms of the deal.
The Connecticut Development Authority approved a loan and a loan guarantee this week, both in participation with People’s United Bank, in order to help the Bristol company expand into the medical devices field.
State Sen. Tom Colapietro, a Bristol Democrat, said Friday the state shouldn’t be handing out money to tax delinquents.
He said he would have told the firm, “Pay your taxes and then we’ll give you some money.”
“I don’t have sympathies for companies that owe money and then ask for more,” the senator said.
But Weed said the money will allow BW Manufacturing to get some new equipment and to grow significantly in the years ahead. He said a new account has the potential to “really take off” and as a result “lots of good things” are coming for both the company and the city.
Weed said the “last few years have been a challenge,” but his company has always emerged with new customers when it had to find them and has managed to do it again.
In announcing the CDA’s decision, Gov. Jodi Rell called BW Manufacturing “a great example of Connecticut’s small and nimble manufacturing base” and “the type of company we will continue supporting, because these small manufacturers are the engines that drive our economy.”
“You would think she would do her homework,” Colapietro said.
It isn’t clear if the state knew about the back taxes the company owed to Bristol. Rell’s office did not answer questions about it by late Friday.
The guaranteed loan application form required by the CDA includes a section where businesses seeking the agency’s help must disclose any back taxes they owe to the federal, state or local government.
Colapietro said he learned long ago that if somebody owed him $20 he shouldn’t loan the guy more.
Weed said the company is on the right path and “looking forward to some real good growth” that will mean more jobs in Bristol.
He said that People’s United Bank has “done an outstanding job” helping the company along, which he said is especially noteworthy at a time when so many banks have failed to do right for their customers and communities.
BW Manufacturing is a precision machining and metal fabrication shop that began primarily as a manufacturer of high tolerance and specialty metal products for the aircraft and automotive industries.It is expanding into the medical devices sector with stainless steel and titanium surgical tools and medical instrument components.

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Copyright 2009. All rights reserved.
Contact Steve Collins at scollins@bristolpress.com

18 comments:

welfare governor said...

If they are getting 1.1 million dollars of us state taxpayer's dollars then they should sure be made to pay our city taxes before spending a single dime - to think otherwise is completely asinine. No wonder the state is in the hole.
Are they republicans also?

Anonymous said...

AS long as they are trying to pay back why rub there name in the dirt it`s been a tough 3 to 4 years Thank God they are staying in Bristol and don`t just fold up let`s have some respect Please.

Concerned Conservative said...

If this company owes taxes, why should they be getting loans from the state?

I guess it helps to be buddies with politicians in Hartford.

Why isn't the state lending money to companies that have proved to be solid business entities, not one that owes money to the city and others?

NOT mine said...

I had to laugh out loud ....


A DEMOCRAT critical of someone not paying their taxes .


That is a pre-requesite to be appointed to the Obama cabinet .

Anonymous said...

hey maybe if i form an LLC I can get a State grant and use it to pay the $234 in motor vehicle taxes that i still owe and can't afford to pay!

Anonymous said...

Ok let me get this straight. Again this is how the ordinary "average Joe" gets skrewed. If we owe taxes to the city or state, or are deliquent on our auto insurance, DMV will not reinstate you r license. Yet here is all of the taxpayers monies being given to a business that just isn't a little behind, they are a lot behind. God bless taxation without representation because we are there again....

NOT mine said...

President Obama Has commercials currently running on "THIS" television showing how to avoid paying taxes , how to eliminate credit card debt (without paying) , and several other "useful" democrat ideals .

I am a bit surprised that so many seem to object when THEY are NOT the receivers of these benefits .

GOOSE / GANDER anyone ?? ;-)

Anonymous said...

I say give them props for trying to pay back the city. Some of the biggest companies in the world have gone out of business and I dont see any reason to help out a local company. Why would Colapietro be upset a local company got funds to expand and stay in this god forsake city. I think he needs to get a clue first.

Anonymous said...

The state should have done their homework before loaning a dime to a company that owes everyone in the City of Bristol!!!!!

Anonymous said...

6:54 Practice what you preach will ya?

Anonymous said...

So, let the company og out of business, close its doors and lay off all its workers.

Makes sense to me.

Anonymous said...

All you clowns do is say gimmee,gimmee, gimmee. As long as it you but no one else . Adolph candidates for sure.

Doug said...

The company probably could not pay it's taxes because it had to make it's payroll in a difficult economy. The Company has been around about 50 years and employs a lot of people in Bristol.

The state has backed a loan. They have not provided any money, but they are backing it. The money will be used to buy equipment for new business.

Colapietro criticizes this? Fine, let the company layoff some people so that it can pay it's back taxes or better yet close it's doors fire everyone and sell everything so they can pay their taxes. Maybe North Carolina or Georgia would give them a grant for the Equipment. That would make you happy huh Tom? Is this the stance of the Democratic party? Very, Very pathetic!

Again this Company has been around 50 years. The economy gets tough and they are painted as deadbeats.

Anonymous said...

What about all the vendors this company owes money too. Will they get paid back? I hope the company uses this bailout money to pay back who they owe, keep their promise to keep jobs in town and hire more workers. They don't have the best track record and the same management team is in place. This is taxpayer backed so we as taxpayers are on the hook.

Anonymous said...

As far as this blog is concerned you can lose you home,house,etc and that's OK as long as you regular people in stead on no heart republicans right? It's OK for their business friends no to pay taxes though.

Anonymous said...

They seem to have by passed the city on this one. I wonder if they put the fact that the owe back taxes and others on the grant application? Did the CDA know about this or even see this company's finances?

Anonymous said...

This looks like Tommie O'Brien's wife at the CDA. Did she get marching orders on this from Frank Nicastro? Art Ward?

Anonymous said...

Gary Weed has been and will continue to drive this company straight into the dirt! He has very little knowledge in running a company and has only survived this long due too others doing it for him.Now thinking he can do things on his own has made this buisness what it is today!A floundering cheating sweat shop that owes everyone money!MR Gary weed has no respect for his employees nor values them.theirs employees that work there 15 20 plus years he,d get rid of in a whim and has for no reason without hesitation if hes having a bad day!Employees go without fresh drinking water, soap,hand towells,but the best is no toilet paper in the restrooms for months he cares little for his employees welfare employees here have been going weeks at a time without paychecks nor any explanations for why or an idea when. theirs people here who cant feed there children.I TRULY WISH THE BEST FOR THE EMPLOYEES STILL STRUGGLING THERE ITS HARD TO FIND A GOOD HONEST COMPANY WITH A BOSS WITH GOOD ETHICS!!!GOOD LUCK TO YOU ALL KEEP LOOKING!! AND KEEP YOUR HEADS UP!!!