Charter Communications is expected to bring 1,000 new jobs to Connecticut as the company announced plans to build a new headquarters in Stamford.
The second-largest cable operator in the United States announced in a joint statement with the governor that they are building a 500,000 square foot, 15-story headquarters, which will be located at 406 Washington Ave.
“Charter Communications has been a steadfast corporate citizen since they relocated here in 2012,” Stamford Mayor David Martin said in a statement on Tuesday. “We are happy that they chose to stay in Stamford, and add jobs and expand their workforce here. This investment in our city is good news and we applaud their vote of confidence in Stamford.”
Gov. Dannel P. Malloy said Tuesday was "a great day for Connecticut."
“Charter’s announcement to create an additional 1,100 jobs shows that our strategic investments are continuing to spur economic growth and create good paying jobs in the state,” Malloy said in a statement on Tuesday. "We look forward to the continued success of Charter Communications as they grow within Connecticut.”
The Department of Economic and Community Development said the project will be supported through "a 10-year, $10 million low-interest loan to support the project through the state’s First Five Plus program." The state funding will help provide "new equipment and leasehold improvements."
Department of Economic and Community Development officials said Charter Communications "may be eligible for loan forgiveness based on job creation and if employment obligations are met." They added Charter Communications could also receive up to $10 million in tax credits through DECD’s Urban and Industrial Sites Reinvestment Tax Credit program and "additional tax credits are available if the company exceeds job targets."
Department of Economic and Community Development Commissioner Catherine Smith said she was "excited that Charter continues to grow in Connecticut."
“Charter’s decision to expand its headquarters operations in Stamford demonstrates that Connecticut is on the right track in supporting great companies who value the quality of our talent, excellent location and business environment," Smith said in a statement on Tuesday.
The company relocated its headquarters to Stamford in 2012. Tom Rutledge, who is the chairman and chief executive officer of Charter Communications, said "the company has undergone a transformation to become the second largest cable provider in the U.S.."
“We are excited to continue expanding in Connecticut, and thank Governor Malloy, Mayor Martin, the Connecticut Department of Economic and Community Development, and the entire Stamford-area federal, state and local delegation of elected officials for their continued partnership and support,” Tom Rutledge, Chairman and Chief Executive Officer of Charter Communications, said in a statement on Tuesday.
Charter Communications provides 26 million customers in 41 states across the United States with "a full range of broadband services including digital cable, high-speed Internet and telephone services to residential and commercial customers."
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