ANNOUNCEMENT 06 Nov 2016

The company will receive a loan, and may also qualify for tax credits.

 

 

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 06 Nov 2016 | Removal date: open ended

State loan

On November 6, 2016 Governor Dannel P. Malloy announced the decision of Germany-based Henkel Corporation to relocate its Laundry & Home Care and Beauty Care headquarters from Arizona to Stamford, Connecticut, where the company plans on expanding in a $50 million project. Under the state’s First Five Plus program, the Connecticut Department of Economic and Community Development will provide a ten-year, $20 million low-interest loan to support the project.

 

AFFECTED SECTORS

 
Inception date: 06 Nov 2016 | Removal date: open ended

Tax or social insurance relief

 

The company may also be eligible for up to $5 million in tax credits through the Urban and Industrial Sites Reinvestment Tax Credit program, which allows for a dollar-to-dollar corporate tax credit of up to 100 percent of capital investment on eligible projects.