ANNOUNCEMENT 14 Mar 2018

The state government is providing grants and credits through the First Five Plus Program.

 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 14 Mar 2018 | Removal date: open ended
Still in force

Financial grant

On March 14, 2018 Governor Dannel P. Malloy of Connecticut announced that IT services firm Infosys is planning to establish a technology and innovation hub in Hartford. The $20.6 million project will see the creation of 1,000 high-tech jobs in the state’s capital city by 2022. As part of the company’s establishment of the hub in Hartford, the Connecticut Department of Economic and Community Development (DECD) will provide up to $12 million in grants after certain job creation milestones are met through the First Five Plus Program.

In addition, the company is eligible to receive up to $2 million in training grants to support partnerships the company creates with local education organizations. State funding will be used for the purchase of computer and office equipment, leasehold improvements, and training. The company is also eligible for additional assistance if they significantly exceed 1,000 jobs, and the incentives in place can support up to 2,000 jobs.

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