Last week, during the back-and-forth over President Obama’s assertion that government plays a valuable role in supporting business, the Romney campaign released a web video, followed by a television ad, featuring Gilchrist Metal Fabricating in Hudson. In the video, owner Jack Gilchrist is adamant that he, his father and his son built his company without any help from the government.
“My father’s hands didn’t build this company? My hands didn’t build this company? My son’s hands aren’t building this company? … President Obama, you’re killing us out here. Through hard work and a little bit of luck, we built this business. Why are you demonizing us for it?”
Yesterday John DiStaso reported — and Jack Gilchrist confirmed — that Gilchrist Metal Fabricating had a little help from the government after all.
- In the late 1980s, Gilchrist Metal received a U.S. Small Business Administration loan totaling nearly $500,000.
- The company received matching funds from the federally-funded New England Trade Adjustment Assistance Center (NETAAC).
- In 1999, Gilchrist Metal received $800,000 in tax-exempt revenue bonds issued by the New Hampshire Business Finance Authority.
- Ten percent of the company’s contracts are defense-related including two U.S. Navy sub-contracts last year and a 2008 Coast Guard contract.