NAUGATUCK — The Ion Bank Foundation has awarded a $10,000 grant to the quasi-public Naugatuck Economic Development Corporation.
This is the 12th consecutive year the foundation has given a grant to the agency. All told, it has provided $143,000 in grants to the development agency.
Charles Boulier III, president and CEO of Ion Bank and the Ion Bank Foundation, said the organization provides a valuable service to Naugatuck 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,” Boulier said.
The Ion Bank Foundation, which awarded more than $469,000 in grants during 2015, has donated $5.8 million since it was established in 1998.
The NEDC is a public and 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 Pugliese, president and CEO of the NEDC.
“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.”