U.S. Repeating Arms Co., which recently closed its historic Winchester firearms plant in New Haven, Conn., will repay $850,000 in tax benefits and help attract buyers for the plant, Mayor John DeStefano announced last week. The city and USRAC have come to terms on a \"stand still\" agreement in which the company agreed not to immediately remove its equipment and inventory from the facility. \"Without this agreement, U.S. Repeating Arms could have removed all of their equipment and inventory on March 31 and left town. Instead, along with meeting their financial commitments to the city, they are providing a reasonable time period in which to market the Winchester site and hopefully to find a successor firearms manufacturer,\" DeStefano said.
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