ANNOUNCEMENT 16 Oct 2013

The incentives package included both an $8 million loan and a $3.5 million grant.

 

 

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 16 Oct 2013 | Removal date: open ended
Still in force

State loan

On October 16, 2013 The Navigators Group, Inc. — an international specialty insurance holding company — agreed to relocate its corporate headquarters from Rye Brook, New York to Connecticut. The state provided financial assistance for the company’s $25 million expansion and relocation project through the Next Five program of the Department of Economic and Community Development. The agency provided a 10-year, $8 million loan at no interest for new equipment, facility upgrades, and other eligible project-related costs.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
N/A
Inception date: 16 Oct 2013 | Removal date: open ended
Still in force

Financial grant

A grant of up to $3.5 million for training and other relocation expenses is also part of the assistance agreement.

 
N/A