STAMFORD, Conn. -- Pitney Bowes will expand its operations in Stamford and Danbury thanks to low-interest state loans, Stamford state Sen. Carlo Leone and Gov. Dannel Malloy announced Friday.
The State Bond Commission voted to approve a low-interest loan in support of the company's efforts, according to the announcement. The company is set to retain 1,600 jobs and add 200 new positions.
Plans also call for updates at the company’s technology center in Danbury, its business operations center in Shelton, and its new corporate headquarters, which will remain in Stamford, according to the release.
Pitney Bowes was founded in Connecticut over 90 years ago. The new jobs will come under an expansion plan that will see the company investing $25 million in facility improvements, training and technology into Connecticut’s economy.
“Pitney Bowes has been a fixture of the Stamford economy for many years, and their recommitment to our city and the state is the very best news. I am very proud that as their company continues to grow, they will be expanding and adding new jobs here in our community,” said Leone.
“We are thrilled that Pitney Bowes will remain in Stamford and intends to hire 200 additional employees in Connecticut,” said Malloy. “Pitney Bowes has been a fixture in Connecticut for over 90 years and has exciting growth plans for its future in areas such as digital commerce and location intelligence. We are proud that the next chapter for this great company will be written in Connecticut.”
The State Bond Commission approved a $15 million low-interest loan to Pitney Bowes under the state’s First Five Program, in addition to a $1 million grant for new job training.
Pitney Bowes, which sold its headquarters in August, is moving its global operations into the top two floors of 3001 Stamford Square, at the intersection of Summer and Bedford Streets in Stamford, it announced earlier this month.