Charter Communications will keep its headquarters in Stamford, Connecticut, and is planning to build a new 500,000-square-foot facility in the city, Gov. Dannel Malloy announced.
The new 15-story building will sit at 406 Washington Blvd. in Stamford. Charter said it will add 1,100 new corporate headquarters jobs to fill it. Charter also committed to $100 million in planned expenditures in the area over the next five years.
“This new, state-of-the-art facility in downtown Stamford will provide Charter the necessary resources to facilitate its continued growth,” Charter Chairman and CEO Tom Rutledge said in a statement. “We are excited to continue expanding in Connecticut, and thank Gov. Malloy, Mayor [David] Martin, the Connecticut Department of Economic and Community Development, and the entire Stamford-area federal, state and local delegation of elected officials for their continued partnership and support.”
RELATED: Expansion-minded Charter reportedly looking at bigger digs in Stamford, Connecticut
Charter moved to Stamford in 2012 from Missouri. Since then, the cable company has embarked on a major expansion, swallowing giant Time Warner Cable, as well as Bright House Networks.
Charter currently occupies eight floors in a 500,000-square-foot building at 400 Atlantic St., expanding from just one floor of space when it first moved in five years ago.
The Connecticut Department of Economic and Community Development will provide a 10-year, $10 million loan to assist with the project. State funding will be used for new equipment and leasehold improvements, and Charter might be eligible for loan forgiveness depending on how employment obligations are met. Charter will also get $10 million in tax credits.
“Charter Communications has been a steadfast corporate citizen since they relocated here in 2012,” Stamford Mayor Martin said in the joint statement. “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 Stamford.”