Company run by son of Voices for Children co-founder on track for $3 million in state aid

by Zachary Janowski | Mar 21, 2014 | Economy, Features, General, Taxes & Spending | 0 comments

Company run by son of Voices for Children co-founder on track for $3 million in state aid

The State Bond Commission will consider granting $3 million in state assistance next week to a company run by Josh Geballe, son of the co-founder of Voices for Children.

Geballe is CEO of Branford-based Core Informatics. His mother, Shelley Geballe, co-founded and ran Voices for Children for more than a decade. Voices for Children generally lobbies for increased state spending, higher taxes on businesses and a more transparent tax system.

The state aid to Core Informatics includes a loan for $2.75 million at 2 percent interest for 10 years. Principal is deferred for three years and $1 million is forgivable if the company retains 15 jobs and creates 69 more. The Department of Economic and Community Development will also grant the company $250,000 to buy office equipment.

Pittney Bowes, a First Five company, is on the bond commission agenda for $9 million in assistance. Norwalk-based Datto is on the agenda for $6 million.

Shelley Geballe is also on the board of the organization that publishes the CT Mirror.

John Sanders says:

March 22, 2014 at 11:03

Being a loyal Demoncrat, Geballe will undoubtedly see to it that a good chunk of that money finds its way into Demoncrat coffers. Interestingly there’s a news bit from December, 2013 reporting that Core Informatics had just opened its first international office in the UK- characterizing the company as fast growing. On August 16, 2013 “Marketwatch” had an article extolling Core Informatics as having won an award and being a part of the Tech top 40 — “providing information management solutions to the life sciences, molecular diagnostics, and energy industries”… it makes me wonder if they are part of the AGW propaganda mill… nonetheless they don’t seem to be hurting for revenue so why is it that they can get state taxpayer funded aid? Looks like some of those jobs created as a contingency for $1 million loan forgiveness could end up being overseas.

John Schmidt says:

March 21, 2014 at 20:03

They have a $1.32 million in revenue and 11% in administrative expenses according to. Charity navigator. So the state is giving them about 2.5 times their current revenue. With 11% going for admin costs! that allows them to split an additional $330,000 in “costs” as salaries. Why is the state giving this amount to them? And what will they do with it.