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March 3, 2014

State loans CohnReznick $1.2M for Hartford move

Hartford's Metro Center office building, 350 Church St.

Accounting firm CohnReznick, which has Glastonbury and Farmington offices, is going to consolidate its area operations in downtown Hartford’s Metro Center with help from a $1.2 million state loan, Gov. Dannel P. Malloy said.

The firm has pledged to retain its 196 local jobs and to create 40 more within four years. If it hits those promises, the state will forgive half of the 10-year loan, which has a 2 percent interest rate and deferred payments for the first five years.

CohnReznick will invest $4.5 million to refurbish and make improvements to its new 350 Church St. offices. The Department of Economic and Community Development loan will help pay for the upgrades.

“The funding from the state will assist us in the renovations of the Metro Center site, creating workspaces that will allow for greater collaboration and efficiencies among our staff and afford us space to create new jobs in Hartford,” Regional Managing Partner Frank Longobardi said in a statement.

News of the firm’s intentions first leaked out in mid-January, but the company had been quiet until Monday’s announcement.

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