Gov Rell Names New Connecticut Development Authority Chief

HARTFORD — Governor M. Jodi Rell announced December 26 that she has named Laura Grondin of West Hartford to chair the Connecticut Development Authority Board of Directors. Ms Grondin has served since 2004 as a member of the CDA board and she succeeds L. Scott Frantz as chair.

Mr Frantz was elected in November as State Senator of the 36th District.

Since 1999, Ms Grondin has served as president and CEO of Virginia Industries, a Rocky Hill manufacturer. She previously served as the president of the Hartford Bearing Company, a division of Virginia Industries.

Ms Grondin is a former member of the board of the Connecticut Business and Industry Association and a director of the Children’s Law Center of Connecticut.

“Laura Grondin understands and is deeply committed to CDA’s mission of promoting business expansion, creating jobs and helping Connecticut maintain a strong business climate,” Gov Rell said. “Her experience, her perspective as a CEO and her long-standing commitment to the business community are all valuable assets in her new role.

“Now more than ever, CDA’s business assistance programs are critically important to the State’s efforts to help companies stay in Connecticut, grow here and expand our workforce,” the governor added. “Keeping Connecticut firms healthy and encouraging new businesses to locate here are central to CDA’s role. Connecticut is fortunate to have an individual of Laura’s caliber in this vital position.”

Ms Grondin has served in many public and private capacities. Her board memberships include the Center for Family Business at the University of New Haven, TEC, an international organization of CEOs, State Street Global Advisors, and the CBIA Small Business Council.

She has also served as a member of the State Brownfields Task Force, as the president of the Connecticut Women’s Council, as a board member of the Greater Hartford Chamber of Commerce, as chairman of the Greater Hartford Jaycees, and as a board member of the Greater Hartford Arts Council.

The Connecticut Development Authority provides debt financing and investment capital to help businesses grow in Connecticut. CDA stimulates business investment and create jobs by financing companies and projects that:

*Contribute to Connecticut’s economy, technology base, intellectual capital, urban infrastructure, employment, or tax revenues

*Private sector financial institutions are unable to accommodate

Ms Grondin received her bachelor’s degree from Yale University.