ANNOUNCEMENT 11 Jul 2017

The state government is providing loans (with possible forgiveness) and tax credits.

 

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 11 Jul 2017 | Removal date: open ended

State loan

On July 11, 2017 Governor Dannel P. Malloy of Connecticut and executives from Indeed announced that the internet company has plans to increase its presence in Connecticut by investing $26.5 million to expand its Stamford offices. The expansion project will see the creation of as many as 500 new jobs, bringing the company’s Connecticut job presence to over 1,200 employees. The Connecticut Department of Economic and Community Development (DECD) will provide a 15-year, $7 million low-interest loan to support the expansion. State funding may be used for new equipment and leasehold improvements. The company is eligible for loan forgiveness if certain employment obligations are met.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
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Inception date: 11 Jul 2017 | Removal date: open ended

Tax or social insurance relief

Indeed is also eligible for up to $15 million in tax credits through DECD’s Urban and Industrial Sites Reinvestment Tax Credit program.

 
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