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State to offer $2M to relocate Jarden Corp. execs from NYC to Norwalk

Gov. Dannel P. Malloy
Gov. Dannel P. Malloy

NORWALK, Conn. – The State Bond Commission is about to commit funding to several projects statewide, and included on the list are two sums totaling more than $2M that will affect Norwalk. The Bond Commission is schedule to meet today to approve a laundry list of bonds totaling $250 million.

Gov. Dannel P. Malloy, who leads the Commission, has earmarked $2 million to provide a loan to Jarden Corporation to assist with the relocation of its executive staff from New York City to Norwalk.

The company is to create 75 jobs within four years. The loan will be provided at an interest rate of 2 percent to 10 years with principal deferred for four years and amortized over the life of the loan. The company will be eligible for $1.5 million in loan forgiveness if it reaches 60 jobs and $2 million in loan forgiveness if it reaches 75 jobs within four yards

Also, Norwalk is a part of a group of nine municipalities slated for $21,361 for equipment for technical investigation unit of Southwest Connecticut.

See related story by CT News Junkie.

Comments

2 responses to “State to offer $2M to relocate Jarden Corp. execs from NYC to Norwalk”

  1. John Hamlin

    It’s a shame business can’t be attracted to our state and our city by lower taxes, less unnecessary regulation, a more business-friendly regulatory and tax environment, and attractive communities. Instead CT government chooses winners and losers — the select few get bribes to move or stay here, and the rest of us are losers for the oppressive government approach to business. Better to lower corporate taxes, lower all taxes, make CT a right to work state, and try to work our way out of the bottom 5 or 10 states fiscally and economically.

  2. piberman

    Wouldn’t it be nice if establsihed local businesses with local employees could secure attractive state funding to expand their operations by hiring local employees. Dream on.

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