Stanley Black & Decker is investing $12 million to renovate its Construction and DIY headquarters campus in Towson, Maryland. The company will also preserve 1,100 jobs there.
"When we located the company's Construction and DIY headquarters in Towson, we made a commitment to our employees that we'd upgrade their facilities to a state befitting their world-class talent," said Jeffery D. Ansell, senior vice president and group executive of Stanley Black & Decker Construction and DIY. "Partnership with the state of Maryland and Baltimore County was absolutely essential to helping us make this commitment a reality."
The Maryland Economic Development Assistance Authority and Fund (MEDAAF) extended a $1 million conditional loan to Stanley towards the project. Baltimore County also offered a $100,000 conditional loan to the company for property upgrades and improvements and labor recruitment.
Stanley will use the investments to upgrade the campus' R&D, engineering, prototyping, IT, and support functions.