A German company announced plans on Thursday to move its corporate headquarters from Arizona to Stamford.
The Henkel Corporation said it plans a $50 million expansion project that's expected to create 266 new jobs in the state.
“Henkel and Connecticut have been partners in economic development since 1997, when Henkel acquired Loctite Corporation,” said Jens-Martin Schwaerzler, president of Henkel Consumer Goods Inc. North America. “The expansion of our operations and footprint in Connecticut is a testament to this partnership and to the great economic climate, making it attractive to any growing business.”
Henkel produces beauty, personal care, laundry, home care, adhesives, sealants and other items for consumer and industrial use.
Earlier this year, Gov. Dannel Malloy said the company announced that it acquired Wilton-based The Sun Corporation. It makes laundry care products.
He said with that acquisition, Henkel is the second laundry and home care products company in North America.
The new site in Stamford has yet to be determined. However, the relocation is expected to begin later next year.
Henkel said it is committed to retaining the jobs from The Sun Corp. as well as its adhesives general industries division in Rocky Hill.
As part of the relocation, Malloy said the company will be the latest participant in the state's first five plus program. That means a 10-year, $20 million low-interest loan to support the project.
In addition, Henkel will be eligible for up to $5 million in tax credits through the Urban and Industrial Sites Reinvestment Tax Credit program.
“Henkel is a valued member of the business community – we are proud of their decision to relocate and expand in Connecticut and we welcome the company to our state," Malloy said in a statement.
Stamford's mayor called the move an example of the state's positive business environment.
"[It] is reflective of Henkel’s confidence in Connecticut’s workforce talent," said Mayor David Martin. "The City of Stamford has taken steps over the last few years to create a business climate that attracts companies like Henkel. I look forward working with them as a corporate citizen for years to come.”
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