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The Ion Bank Foundation Awards $10,000 grant to the Naugatuck Economic Development Corp.

The Ion Bank Foundation has awarded a $10,000 grant to the Naugatuck Economic Development Corp (NEDC), marking the 12th annual grant to the agency and now totals $143,000 in grants made to the NEDC.

Charles J. Boulier III, President & CEO of Ion Bank and Ion Bank Foundation said “NEDC provides a valuable service to the borough by attracting new companies and advocating for the business community. Their mission to serve and grow businesses compliments the bank's objective to drive economic growth by lending to local businesses”.

The Ion Bank Foundation, which awarded over $469,000 in grants during 2015, has gifted $5.8 million in donations since it was established in 1998.

“The NEDC is a public/private partnership that focuses on all aspects of economic development in Naugatuck, including business attraction and retention, maintaining a strong local manufacturing base and the development of a vibrant downtown”, said Ronald J. Pugliese, the NEDC's chief executive officer.

“Because it is a public/private partnership, the NEDC is able to work with both the business community and local government to understand the economic development needs of both and to help find solutions to the challenges of bringing economic development projects to completion”, Pugliese said.

“The NEDC provides a comprehensive range of services focused on enhancing the experience of doing business in Naugatuck for both businesses already doing business here, as well as those looking to move to the community, he said.

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