Washington, D.C. – U.S. Senators Charles E. Schumer and Kirsten Gillibrand today (March 25) announced a federal loan guarantee worth $1,530,000 for HealthWay Home Product and V-Squared Management in Pulaski to help finance a construction project to grow the business, expand operations, and bring an expected 25 manufacturing jobs back to Oswego County from China.
“This funding will help return jobs to Central New York and bolster manufacturing, while helping to create construction jobs and 25 permanent jobs in the process,” said Senator Schumer. “The USDA made a smart choice and will get a real bang for their buck with this investment in the region.”
“New York has a proud manufacturing tradition that can out-build and out-work the competition,” Senator Gillibrand said. “When we invest in manufacturers like HealthWay Home, we can help more businesses grow and thrive, put more New Yorkers back on the job just like we are in Pulaski, and strengthen our economy.”
The federal loan guarantee is allocated through the U.S. Department of Agriculture (USDA) Rural Development’s Business and Industry Guaranteed Loan Program. Funds will be used to design, manufacture and sell air cleaning and filtration products for homes, businesses and medical uses.
The loan will allow the business to bring room air cleaner manufacturing back to Pulaski from the current facility in China, creating 25 new manufacturing jobs.
Funds will be used to finance construction costs for an 18,000 square-foot expansion and previous renovations, new machinery and equipment, and working capital.