Indeed, the HR tech company, which just launched an expansion project last year, is planning to add an additional 500 workers at its operations center in Stamford, Connecticut. The addition will bring its total employment in The Constitution State to 1,700 workers.
Indeed plans to invest $66 million toward its expansion and is exploring real estate options to accommodate the growth. The company currently leases office space at 177 Broad Street in Stamford.
“We continue to invest in Connecticut because this region has helped us deliver on our mission of helping people get jobs since we started here 14 years ago,” Dave O’Neill, Indeed’s COO said. “While we have expanded all over the world since our founding, Stamford continues to be a critical region for our success and we are confident we will continue to find the talent we need to help our business continue its growth.”
The Department of Economic and Community Development (DECD) is supporting this newest expansion with a 15-year, $10 million low-interest loan for equipment and leasehold improvements. The company may be eligible for loan forgiveness if certain employment obligations are met. Indeed also may be eligible for up to $5 million in tax credits through DECD’s Urban and Industrial Site Reinvestment Tax Credit program.
“Indeed’s expansion in our state is great news for the well-trained, talented, and sought-out workers in Connecticut’s tech sector,” Governor Dannel P.Malloy said. “This is a global, innovative company that has recognized the benefits that Connecticut brings to the tech industry. We welcome the company’s capital investment in our state and the growth of hundreds of high-quality jobs that will follow.”
“Connecticut is a great home for tech-focused companies like Indeed that depend on a talented workforce to innovate and grow,” DECD Commissioner Catherine Smith said. “Our partnership with Indeed will provide great economic benefits to the city, region, and the state for years to come.”