July 17, 2018

KPMG to create 110 jobs in new Stamford office

Accounting firm KPMG LLP, one of the world's four biggest auditors, is adding 110 jobs to a new Stamford office with the help of a $3 million state loan, the governor announced Monday.

Gov. Dannel P. Malloy said KPMG, which provides auditing, tax and consulting services, will move its offices to leased space in the former UBS building at 677 Washington Blvd., in spring 2019. The project will bring 110 jobs to the area over the next five years.

The state Department of Economic and Community Development (DECD) is providing $3 million for leasehold improvements and equipment, among other project costs. The funding will be released to KPMG when job targets are reached.

With a Stamford presence for almost 40 years, KPMG currently employs 315 people at 3001 Summer St. and has another 231 employees in the "Gold Building" at One Financial Plaza in downtown Hartford.

The governor said KPMG's Connecticut expansion is another "encouraging sign" that "world-class companies" are looking to grow in the state.

Earlier this month, New York global fintech Seven Stars Cloud Group announced its plans to spend more than $283 million to move its headquarters for technology and innovation to the former UConn campus in West Hartford. The state is providing a $10 million forgivable loan for the project the governor says will create 330 jobs.

In May, Malloy announced accounting and consulting firm PricewaterhouseCoopers (PcW) plans to invest $20 million in an effort to create 400 new jobs in Connecticut and establish its Insourced Solutions for Tax (IST) headquarters in Stamford. The state will support the project through a $9 million grant.

A day later, the governor said a pair of entertainment companies will relocate to the same downtown Stamford space, creating 450 new jobs. Production group ITV America and startup Wheelhouse Entertainment are receiving loans worth $6 million and $3 million, respectively, to relocate jobs to a vacant building on Canal Street.

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