Charter Communications Plans Stamford, Connecticut, Headquarters
According to state officials, following its commitment to create and retain 400 jobs under the state’s First Five Program in 2012, Charter has committed to create an additional 1,100 new corporate headquarters jobs and has agreed to a total of $100 million in planned capital expenditures in Connecticut over the next several years.
“Since relocating Charter’s headquarter operations to Stamford in 2012, the company has undergone a transformation to become the second largest cable provider in the U.S.,” Tom Rutledge, Chairman & CEO of Charter Communications, said.
“This new, state-of-the-art facility in downtown Stamford will provide Charter the necessary resources to facilitate its continued growth. We are excited to continue expanding in Connecticut, and thank Governor Malloy, Mayor Martin, the Connecticut Department of Economic and Community Development, and the entire Stamford-area federal, state and local delegation of elected officials for their continued partnership and support,” he added.
The Department of Economic and Community Development (DECD) will provide a 10-year, $10 million low-interest loan to support the project through the state’s First Five Plus program. State funding may be used for new equipment and leasehold improvements. The company may be eligible for loan forgiveness based on job creation and if employment obligations are met. Charter Communications will also receive up to $10 million in tax credits through DECD’s Urban and Industrial Sites Reinvestment Tax Credit program. Additional tax credits are available if the company exceeds job targets.
“We are excited that Charter continues to grow in Connecticut,” DECD Commissioner Catherine Smith said. “Charter’s decision to expand its headquarters operations in Stamford demonstrates that Connecticut is on the right track in supporting great companies who value the quality of our talent, excellent location and business environment.”
“Charter Communications has been a steadfast corporate citizen since they relocated here in 2012,” Stamford Mayor David Martin said. “We are happy that they chose to stay in Stamford, and add jobs and expand their workforce here. This investment in our city is good news and we applaud their vote of confidence in Stamford.”
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