Consultants Forum Advertise
Subscribe
Close

  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Subscribe Now
Renew

Area Development - Site Selection, Facility Planning and Workforce Development

Praxair Invests $65 Million In Danbury, Connecticut, Corporate Center

11/05/2014
Praxair, Inc., a global leader in industrial gases and applications, will maintain its world headquarters in Danbury, Connecticut. and invest approximately $65 million to build a new 100,000 square-foot corporate facility.

“We undertook an extensive evaluation and ultimately concluded that the State of Connecticut and the City of Danbury continue to be the right location for our global headquarters,” Praxair Chairman/CEO Steve Angel said."

The company will retain 535 positions statewide, and is incented to grow up to 120 new jobs over the next five years. The state Connecticut Department of Economic and Community Development supported the Praxair project with a comprehensive package, including a $10 million forgivable loan.

Praxair will also be eligible for up to $20 million in tax credits through the state’s Urban and Industrial Sites Reinvestment Tax Credit Program, as well as up to $2.5 million in Sales and Use Tax Exemptions, subject to approval from Connecticut Innovations.

“We compete to attract and retain globally recognized corporations like Praxair at every opportunity because of the direct and indirect benefits they bring to Connecticut’s economy, and because their presence enhances Connecticut’s reputation around the world as a great place for these companies to call home,” Governor Dannel Malloy said.

Exclusive Research