10/30/2014
Gov. Malloy: Praxair Building New World Headquarters in Danbury
Global Leader Will Invest $65 Million in New Headquarters and Add New Jobs in Connecticut
(DANBURY, CT) - Governor Dannel P. Malloy today announced that Praxair, Inc., a global leader in industrial gases and applications, will maintain its world headquarters in Danbury and invest approximately $65 million to build a new 100,000 square-foot corporate facility. The company will retain 535 positions statewide, and is incented to grow up to 120 new jobs over the next five years.
"We compete to attract and retain globally recognized corporations like Praxair at every opportunity because of the direct and indirect benefits they bring to Connecticut's economy, and because their presence enhances Connecticut's reputation around the world as a great place for these companies to call home," Governor Malloy said. "Today, we are proud to announce another partnership with an innovation-driven industry leader that knows first-hand the extraordinary value of being in Connecticut: a highly skilled and productive workforce, world-class quality of life, and business-friendly environment. We look forward to the coming years of the company's presence here in Connecticut."
A Fortune 250 company holding some 4,000 patents, Praxair employs more than 27,000 people and operates in 50 countries, supplying 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, manufacturing, and others.
"We undertook an extensive evaluation and ultimately concluded that the State of Connecticut and the City of Danbury continue to be the right location for our global headquarters," Praxair Chairman and CEO Steve Angel said. "We appreciate Governor Malloy's and Mayor Boughton's leadership and their commitment to Praxair and our employees."
Connecticut was competing with proposals from both New York and Texas.
"We are excited to see that Praxair has chosen to remain in Danbury," Mayor Boughton said. "Praxair has a long history of community involvement through its Global Giving Program. Their commitment to our city to add jobs will help us maintain our community as a statewide leader in job growth and economic development."
"I am delighted that Praxair has chosen to build its new state-of-the art world headquarters in Danbury," Congresswoman Elizabeth Esty said. "I am proud to have worked with Praxair, one of Danbury's largest employers, to support high paying jobs and cutting-edge technology. Today's announcement is a testament to our state's highly-skilled, educated workforce, as well as to effective partnerships with state and local government. I applaud the leadership of Governor Malloy, Mayor Boughton, Commissioner Smith, and the team at Praxair. We should celebrate this major investment in the future of the City of Danbury and the state of Connecticut."
The state Department of Economic and Community Development (DECD) is supporting the Praxair project with a comprehensive package, including a $10 million forgivable loan. Praxair will also be eligible for up to $20 million in tax credits through the state's Urban and Industrial Sites Reinvestment (URA) Tax Credit Program, as well as up to $2.5 million in Sales and Use Tax Exemptions (subject to approval from Connecticut Innovations).