DANBURY, Conn. – Danbury-based Praxair Inc., a global leader in industrial gases and applications, has renewed its commitment to the city by announcing plans to build a new world headquarters in the city.
Praxair will invest $65 million to build a 100,000-square-foot corporate office at a yet-to-be-named site somewhere in Danbury, the company and Gov. Dannel Malloy announced Friday.
Praxair will retain 535 positions in the state while adding up to 120 new jobs during the next five years as part of a deal with the state.
As Malloy made the announcement Friday at the Greater Danbury Chamber of Commerce offices on West Street, he joked with the city's state representatives. "I hope this is OK with all of you, what we're announcing," he quipped.
"We are proud to have Praxair's worldwide headquarters here in Connecticut," Malloy said. The administration made a deal with Praxair to keep the offices in the Nutmeg State, including a forgivable $10 million loan.
Connecticut beat out Texas and New York, states where Praxair does business and also has considered for its new headquarters.
"It's always nice to beat out Texas," the governor said. "What we have in Danbury is exceptional -- an exceptional workforce, an exceptional lifestyle, an exceptional transportation system."
Praxair Chairman and CEO Steve Angel said the process with the state began about a year ago. He recounted how Praxair, which got its start as a spin-off of once Danbury-based Union Carbide, long has been based on Old Ridgebury Road off Exit 1 of Interstate 84.
"We considered where our corporate headquarters should be, but our employees are happy to be in Danbury," he said.
Mayor Mark Boughton also praised the deal as good news for the city. "They are good corporate citizens who give where they live and work," Boughton said of Praxair's charitable contributions of $1 million per year to the area. "We are excited about the job growth in the city."
A Fortune 250 company with 4,000 patents, Praxair employs more than 27,000 people and operates in 50 countries. It supplies atmospheric, process and specialty gases as well as high-performance coatings and related services to a wide range of industries including metals, health care, food and beverage, energy, aerospace, chemicals, electronics and manufacturing.
The state Department of Economic and Community Development is supporting the Praxair project with a comprehensive package, including a $10 million forgivable loan. Praxair also will be eligible for up to $20 million in tax credits through the state’s Urban and Industrial Sites Reinvestment Tax Credit Program, as well as up to $2.5 million in sales and use tax exemptions.
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