August 1, 2012

Deloitte nabs $16M “First Five,” deal to add CT jobs

The state is providing accounting firm Deloitte a $16 million incentive package to add up to 500 jobs in Connecticut over the next few years.

Gov. Dannel P. Malloy announced Wednesday that Deloitte is the seventh company to qualify for the state's "First Five" program, which is providing a mix of loans, grants, and tax credits to companies that add 200 or more jobs in Connecticut or invest $25 million in the state.

The new jobs will be added in Deloitte's offices in Hartford, Stamford and Wilton.

The firm's incentive package includes up to $14.5 million in grants over six years provided Deloitte meets specific milestones. Disbursements will be made according to the following schedule:

  • $9 million will be awarded if 1,153 jobs are retained and 200 jobs are created before the end of 2013.
  • If the company retains 1,353 jobs and creates 150 for a total of 1,503 positions before the end of 2018 it will be awarded $2.5 million.
  • If the company retains 1,353 jobs and creates 300 jobs for a total of 1,653 positions in that same period, $5.5 million will be awarded.
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