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October 31, 2014

Praxair to build new HQ with $32.5M state package

Wikimedia Commons 2012 A Praxair plant in Canada

Danbury industrial gas giant Praxair, which employs more than 27,000 people across the world, will build a new headquarters in Danbury with the help of a forgivable state loan, tax credits, and sales and use exemptions worth as much as $32.5 million, Gov. Dannel P. Malloy’s office announced.

The company, which officials said was evaluating offers in New York and Texas, will invest $65 million in the 100,000-square-foot facility, and has pledged to add 120 jobs to its Connecticut workforce of 535 over the next five years.

The state Department of Economic and Community Development will provide a $10 million forgivable loan. The state is also providing as much as $20 million in tax credits through its Urban Industrial Sites Reinvestment program, and up to $2.5 million in sales and use tax exemptions, pending the approval of Connecticut Innovations.

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