A large business technology company will be keeping its roots in Connecticut, but moving a component out of state.
The Xerox Corporation announced on Friday it will maintain its headquarters in Norwalk and keep 150 jobs there.
“Xerox has been headquartered in Connecticut for almost 50 years and with this decision, will continue to be part of the economic fabric of this state,” said Leslie Varon, Xerox chief financial officer.
Xerox has been located in the city since 2008.
“The Xerox Corporation’s announcement removes all uncertainty regarding the location of the company’s headquarters,” said Gov. Dannel Malloy. “[Friday's] news guarantees that Xerox will continue to invest in the state, contribute to the community, and create high-paying jobs where it has called home for nearly five decades.”
The state Department of Economic and Community Development will give the company a 10 year $4.4 million low-interest loan to support the project.
Xerox said it will use the money to buy new equipment and make improvements to its headquarters.
Malloy said earlier this year, Xerox announced the separation of its printer-copier business from its other contract services like toll booth software and call centers.
While its staying in Norwalk, the company's business services part, called Conduent, will move to New Jersey.
Copyright 2016 WFSB (Meredith Corporation). All rights reserved.