Optometrics Corporation receives loan from MassDevelopment to aid expansion

Optometrics Corporation, a subsidiary of Dynasil Corporation of America, has received a $300,000 loan from MassDevelopment, Massachusetts's finance and development agency, in order to expand its operations in Ayer, Massachusetts, according to an official statement from MassDevelopment. The funding will be used to buy new equipment to manufacture optical components for a communications providers in the military and commercial markets, as well as boost production of current products and provide better service to existing customers.

MassDevelopment partnered with the city's Industrial Development Finance Authority to give the financial assistance.

"We're pleased to provide this loan to help Optometrics expand and partner with manufacturers around the country, creating and retaining highly-skilled manufacturing jobs in Massachusetts," MassDevelopment President Marty Jones said.

Optometrics expects to create 10 new jobs within the next year and 26 additional positions by 2017. The company anticipates its Massachusetts workforce to reach 70 people, according to MassDevelopment's statement. 

The assistance and expansion is an important step for the company's growth, according to Optometric's Chief Operating Officer Laura Lunardo. The creation of its new products has transformed the company.

Businesses expanding their operations to better serve their customers and develop new products should work with manufacturing recruiters to find the most skilled workers for their open positions.