Cable operator Charter Communications announced it will stay put in Stamford, Conn., and build a new headquarters in the city, with construction to start at the beginning of next year.
The new 500,000 square feet, 15-story building will be located in downtown Stamford at 406 Washington Blvd. The facility is projected to be ready for employee occupation by 2019.
Charter says it will create 1,100 new corporate headquarter jobs, and has also agreed to $100 million in planned capital expenditures within the state over the next five years.
“Since relocating Charter’s headquarter operations to Stamford in 2012, the company has undergone a transformation to become the second-largest cable provider in the US,” Charter CEO and Chairman Tom Rutledge comments. “This new state-of-the-art facility in downtown Stamford will provide Charter the necessary resources to facilitate its continued growth.”
The beginning stages of the project are reportedly waiting on final land use approvals from the city of Stamford.
“Charter Communications has been a steadfast corporate citizen since they relocated here in 2012,” Stamford Mayor David Martin notes. “We are happy that they chose to stay in Stamford, and add jobs and expand their workforce here. This investment in our city is good news and we applaud their vote of confidence in the city of Stamford. ”
The Connecticut Department of Economic and Community Development will provide an incentives package consisting of a 10-year, $10 million direct loan and tax credits of identical value. Additional tax credits will reportedly be available if Charter continues increasing its total number of Stamford-based jobs.
