As DriveSol, the company nearly went out of business last December due to dwindling cash flow and $500,000 in back taxes it owed the town of Watertown. Part of that amount was due to missing a filing date for a tax exemption form from the state of Connecticut for equipment. DriveSol requested that the exemption be granted retroactively.

It came before the Connecticut Senate and Legislature during the last session, but, according to Sen. Kane, "We were unable to complete it last session."

"I thought it was dead in the water," said Town Council Chairman Elaine Adams.

However, Sen. Kane and Rep. Williams "got the bill back in" for the new legislative session and the bill passed.

"This tax exemption means a lot for Global Steering," said Sen. Kane. "This is a good example of government working well with business. A great team of people at the local and state level got together to save 240 jobs in Watertown."

The exemption, which will be reimbursed to Watertown by the state, was $200,000.

"This was really a collaborative effort," said Rep. Williams. "No one person or political party deserves the credit. This effects people directly and indirectly because of how important manufacturing is to the economy."

Rep. Williams noted it was a "tough thing" when a manufacturer comes before the state saying they "forgot to file a form," because "when you do it for one, you may have others asking for the same in the future." However, Rep. Williams stated he felt it was important to help save the business and save the jobs.

"It's very important to support our manufacturing businesses," said Rep. Williams.

Global Steering was also chosen in March to receive part of a $3.2 million aid bill to four local businesses.

Economic Development Coordinator Joe Seacrist also announced in April that by using a payment plan, Global Steering had caught up on all back taxes owed by DriveSol.