Deloitte, a professional services organization providing clients with audit, consulting, financial advisory and tax services, plans to expand its operations throughout Connecticut at its facilities in Hartford, Stamford and Wilton, creating between 200 and 500 new jobs.
"We are proud to be expanding our footprint in Connecticut with Governor Dannel Malloy's First Five program," said Henry Phillips, northeast regional managing partner, Deloitte LLP. "Deloitte's vision to grow the local economy is supported by the Governor, through a commitment to our clients, giving back to the communities in which we live and work, and developing and investing in our people."
"The First Five program is about jobs, and about making Connecticut competitive again," said Governor Malloy, in commenting about the new program that offers firms state tax credits. "By securing a company like Deloitte, we are not only creating good paying jobs with good benefits in our state, we're making our state a better place to do business."
As an incentive to retain the firm, which employs a workforce of about 1,153 in The Constitution State, $16 million will be provided through Governor Malloy's First Five program, which is administered by Department of Economic and Community Development.
DECD's performance-based financial assistance package will include between $9 million and $14.5 million in grants over 6 years, provided Deloitte meets specific milestones. According to public records, $9,000,000 will be awarded if 1,153 jobs are retained and 200 jobs are created on or before 2013. If the company retains 1,353 jobs and creates 150 for a total of 1,503 positions on or before 2018, then $2,500,000 will be awarded: if the company retains 1,353 jobs and creates 300 for a total of 1,653 positions in that same period, $5,500,000 will be awarded.
"Deloitte, like the Department of Economic and Community Development, is in the business of helping businesses. Its 51,000 people in more than 90 cities across the country all have one goal: supplying clients with the services, resources and information they need to be more competitive," said Catherine Smith, commissioner of DECD. "With Governor Malloy's First Five program, we're helping Deloitte reduce its operating costs and expand its Connecticut operations, which ultimately will position the company for future growth."