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Charter Communications Invests $10 Million In Stamford, Connecticut Headquarters, Creating 200 Jobs
Area Development Online News Desk (10/04/2012)
Charter Communications, Inc., the nation's fourth-largest cable operator, will invest $10 million to establish headquarters office in downtown Stamford, Conn, creating 200 jobs in the area.

According to Gov. Dannel P. Malloy's office, Charter will lease an approximately 70,000 square feet of space at 400 Atlantic Street. The firm will maintain its corporate offices in St. Louis, Missouri and Denver, Colorado.

"Connecticut is competing at every opportunity to attract and retain good paying jobs with good benefits, and strengthen our position in key industry sectors in the process. Charter's decision to make Stamford its headquarters serves both of these objectives," Governor Malloy said. "Connecticut is quickly becoming a place where growth industries can thrive. Whether it's bioscience, digital media, or another emerging sector of the economy, the message that Connecticut is open for business is clearly taking hold."

"Establishing a corporate presence in Stamford is one of many actions we have taken to position Charter for long-term growth. In addition to our cable operations in Connecticut, access to the talent base, the transportation infrastructure, and the proximity to other media headquarters and financial markets made Stamford a logical alternative," said Tom Rutledge, Charter President and CEO. "The State of Connecticut and Governor Malloy's commitment and package of incentives offered made it compelling for us to decide on Stamford."

As an incentive towards company's commitment to create 200 corporate jobs, the state Department of Economic and Community Development will provide a 10-year loan of $6.5 million at two percent, with principal payments deferred for three years. Funding will go toward Charter's costs for tenant improvements and the purchase of furnishings and office equipment. The loan, or a portion of it, may be forgiven if certain job milestones are met. It also includes funding provisions for future job growth.

"This is the latest in a string of impressive economic development wins for Stamford, which continues to build its reputation as a destination for media, as well as financial services," Stamford Mayor Michael Pavia said. "The high-paying jobs with good benefits these companies bring have multiplier effects, encouraging growth in other areas of our city's economy."
 
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