ANNOUNCED AS TEMPORARYNo
On October 31, 2014 Governor Dannel P. Malloy announced that the Swiss bank UBS agreed with the state to amended their partnership agreement, re-affirming UBS’s commitment to the state through 2021. The original agreement was reached In 1994, when the company agreed to build its North American headquarters in Stamford. Under the terms of that original loan from the Department of Economic and Community Development, the company received $20 million which was fully forgivable if the company maintained 2,000 jobs for five years. In the extended agreement, the same $20 million may be fully forgivable if the company continues to retain 2,000 jobs, with loan forgiveness based on the number of jobs retained in the state each year through 2021.
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