07/24/2013
Gov. Malloy: Investment in High Technology Power Company Will Retain 1,082 Jobs, Create Construction and Supplier Jobs
(HARTFORD, CT) - Governor Dannel P. Malloy today announced $3.5 million in loans and grants to Alstom to support the company's $25 million dollar modernization project at its headquarters in Windsor. The company, a global leader in power generation, will establish a new research and development site in Bloomfield that includes offices, a warehouse, and a laboratory. Alstom also will make energy and environmental improvements to the site and retain 1,082 jobs.
"We are pleased that Alstom will keep its U.S. power generation headquarters in Windsor. Their expansion plans mean that good jobs with good benefits will stay here in Connecticut," said Governor Malloy. "Alstom's commitment to providing more sustainable energy solutions plays an important role in improving energy efficiency and our larger efforts to reduce rates for residents."
Alstom considered relocating the research and development operation outside of Connecticut but, with state investment, will instead renovate existing infrastructure and implement upgrades and other improvements. The new offices, warehouses, and the laboratory will be located in Bloomfield and are expected to be completed in 2014. The headquarters will remain in Windsor where the company will make improvements including environmental and energy upgrades.
The Department of Economic and Community Development (DECD) will provide a $3 million loan at 1 percent interest for a term of 10 years and a $500,000 grant to help fund sustainable elements as recommended in LEED building practices. The company may add 30 positions as part of the project, which is expected to generate as many as 304 construction and supplier jobs.
"In 2010, DECD worked with Alstom on an expansion project that was very successful. The company exceeded its job goals and it has been growing ever since," said DECD Commissioner Catherine Smith. "Alstom, an innovator in the world of clean technologies, will solidify the state's position in this growing field that is both economically and environmentally important."
Alstom has 7,500 full-time U.S. employees in 45 states and the District of Columbia and provides advanced technology and research related to smarter power grids, clean energy solutions, and lower-impact rail transportation. The company has provided equipment for half of all U.S. power plants as well as software that controls 40 percent of the electricity flowing through U.S. grids. To-date, Alstom has modernized or manufactured over 7,000 passenger rail vehicles for U.S. customers.
"Alstom's team in Windsor has for decades delivered new technologies that have significantly reduced the environmental footprint of power plants in the U.S. and around the world," said Tim Curran, President of Alstom Power U.S., Inc. "We are grateful for the support of state and local officials in keeping that industry-leading research capability here in Connecticut and look forward to having the new facility up and running."
"Keeping Alstom in Connecticut means keeping Connecticut at the forefront of the sustainable energy movement," said State Senator Eric Coleman (D-Windsor). "This forward-thinking venture preserves good-paying, local jobs, and I thank Governor Malloy for this prudent investment in Windsor and Bloomfield."
"This announcement by Governor Malloy is great news for Windsor and the region," said State Representative Elaine O'Brien (D East Granby, Suffield, Windsor). "The $3.5 million loan and grants to Alstom represents a sound investment that not only keeps the company's headquarters in Windsor, but will go a long ways towards retaining and creating jobs in Connecticut."
"This is exciting for Windsor in the way of jobs and keeping the town vibrant," said Deputy Speaker of the House Peggy Sayers (D-Windsor, Windsor Locks). "I thank Governor Malloy for also paying special attention to our existing businesses that want to expand, especially a business known for cutting edge green technology."
"The commitment by Alstom to keep its power generator facility in Windsor and Bloomfield, as a result of state support, is a major benefit to both towns and the state," said State Representative David Baram (D-Bloomfield, Windsor). "This premiere energy organization brings prestige to our region, while also preserving jobs and contributing to the tax base."
"I applaud the Governor for supporting small businesses like Alstom," said State Representative Brandon McGee (D-Hartford, Windsor). "Businesses that are cutting edge in technology and sustainability should be receiving these types of grants, because the results mean more high-tech jobs and a stronger local economy."
The funding requires approval by the State Bond Commission, which is expected to vote on the project at its July 26 meeting.
About Alstom
Alstom is a global leader in the world of power generation, power transmission, and rail infrastructure, setting the benchmark for innovative and environmentally friendly technologies. Alstom builds the fastest train and the highest capacity automated metro in the world, provides turnkey integrated power plant solutions and associated services for a wide variety of energy sources, including hydro, nuclear, gas, coal, and wind, and it offers a wide range of solutions for power transmission, with a focus on smart grids. The Group employs 93,000 people in around 100 countries. It had sales of over €20 billion and booked close to €24 billion in orders in 2012/13.