A Bridgeport manufacturing company has decided to stay in the city and expand its production after receiving a $5 million loan from the state.

According to Sen. Rob Russo, Lacey Manufacturing was recently purchased by another company, raising fears among residents and officials that the company may leave the city. The state decided to give Lacey a $5 million loan, which, according to Russo, means 250 jobs will stay in Bridgeport.

?Not only are they going to keep it here but they are going to grow it, so hopefully there will be new jobs here in Bridgeport and we won't be losing the ones we have,? Russo says.

Russo believes that, had the company left, it would have been a huge blow to the city?s economy.