PricewaterhouseCoopers is planning a $20 million expansion project, which includes establishing headquarters for its Insourced Solutions for Tax division in Stamford, Connecticut. The company plans to create up to 400 new jobs over the next five years.
“PwC’s Insourced Solutions for Tax team is part of our journey towards developing a tax function that has an even greater ability to turn global uncertainty and regulatory change into new opportunities that deliver on a business’ strategy,” Rick D’Avino, Chairman of IST for PwC, said. “We’re proud to establish its headquarters in Connecticut, and look forward to delivering new value for our people and clients as a result.”
As an incentive, the Connecticut Department of Economic and Community Development (DECD) will provide up to $9 million in grants for training, equipment, and leasehold improvements at PwC’s Stamford location at 300 Atlantic Street. The grants will be released in segments as certain job creation milestones are met over a five-year period.
“We’re thrilled that PwC made the strategic business decision to invest and grow in our state,” DECD Commissioner Catherine Smith said. “The fact that the company located this new unit in Connecticut speaks volumes about our overall attractiveness as a state and will provide lasting benefits to our economy.”
“PwC’s commitment to expand jobs in Connecticut reinforces the fact that our strategic location, quality of life, and access to a highly educated workforce makes Connecticut a tremendous place to do business,” Governor Dannel P. Malloy said. “This is one of the largest professional services firms in the world, and we are thrilled that they have decided to establish this new strategic headquarters in Connecticut. We look forward to having them as part of our business community and seeing the company continue to grow its presence in our state.”