Continental Diamond Tool Investing $1.1 Million

Continental Diamond Tool has announced plans to invest $1.1 million in additional space and new equipment. Continental Diamond Tool is planning to use the new space by expanding its existing processes, doubling its capacity.

Continental Diamond Tool products are designed and manufactured to the highest standards of quality and reliability. The design and manufacturing of diamond tooling is as much an art as an engineering science. Every tool requires a certain amount of hand craftsmanship during the process of manufacturing.

“We see New Haven as a competitive location for our manufacturing operations,” says Ray Viggiano senior vice president of Continental Diamond Tool. “New Haven has a hard-working, dedicated workforce, and we are excited to locate ourselves in a strategic location such as New Haven.”

The company will invest $500,000 in manufacturing equipment and $600,000 in an additional 15,000 square feet of production space. It will save an estimated $70,200 from a five-year phase-in of real and personal property taxes. Continental Diamond Tool will also add seven new production workers to its team.

“The City of New Haven is proud to have Continental Diamond Tool investing and growing in our community,” stated Mayor Terry McDonald. “Companies that expand here, help our business community thrive and we welcome the opportunity to assist with continued expansions.”