Company set to expand, create jobs after tripling its manufacturing space using $18.5 million grant from DoD
(Merrimack, NH) –U.S. Senator Jeanne Shaheen (D-NH) joined local, state and federal officials at Nanocomp Technologies this morning to celebrate the company’s expansion and tour the construction site for its new manufacturing facility. Nanocomp is tripling its manufacturing capacity and set to create new jobs in New Hampshire with the help of an $18.5 million grant from the Department of Defense (DoD).
“Small, innovative companies like Nanotech are the backbone of our economy,” Shaheen said. “Nanocomp’s expansion is great news for New Hampshire jobs and furthers our state’s role as a national leader in nanotechnology. It has been great to watch Nanocomp grow over the past ten years and I look forward to continuing to work with Nanocomp as it continues to innovate in the future.”
Nanocomp is a producer of next-generation industrial fabrics and coatings and the company works closely with the DoD to reduce the weight of body armor while maintaining a high level of performance for soldiers. In addition to the $18.5 million grant from the DoD, Nanocomp has won more than $5 million in Small Business Innovation Research (SBIR) funding, a program that was reauthorized in 2011 with Shaheen’s support.
Shaheen has made promoting job creation and economic growth in New Hampshire a top priority throughout her career. She has fought to protect New Hampshire businesses from an online sales tax and last year, the Senate Small Business and Entrepreneurship Committee passed Shaheen’s bipartisan legislation to permanently reauthorize the SBA 504 refinance program, which supported nearly 500 loans for a total of $144 million dollars in New Hampshire in FY 2013 alone. She has joined a Senate coalition to promote legislation that will spur the manufacturing industry and create jobs, specifically highlighting two of her own bipartisan proposals, the On-the-Job Training Act of 2013 and the Small Business Export Growth Act. Last year, she also helped break ground on the new Manchester Job Corps, which will train young people in New Hampshire for careers in the advanced manufacturing, construction, health care, homeland security, hospitality and information technology industries.