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Economic Development News

Monday, December 03 2018

HR Tech Company Expected to Grow its Local Workforce to 1,700 Employees 

Hartford, CT — Governor Dannel P. Malloy announced that Indeed, the world’s number one job site, is once again expanding its presence in Connecticut. The HR tech company, which just launched an expansion project last year, is now planning to add an additional 500 workers in Stamford, bringing its total employment in Connecticut to 1,700 workers.

Indeed plans to invest $66 million toward its expansion and is exploring real estate options to accommodate the growth. The company currently leases office space at 177 Broad Street in Stamford.

“Indeed’s expansion in our state is great news for the well-trained, talented, and sought-out workers in Connecticut’s tech sector,” Governor Malloy said. “This is a global, innovative company that has recognized the benefits that Connecticut brings to the tech industry.  We welcome the company’s capital investment in our state and the growth of hundreds of high-quality jobs that will follow.”

“We continue to invest in Connecticut because this region has helped us deliver on our mission of helping people get jobs since we started here 14 years ago,” Dave O’Neill, Indeed’s Chief Operating Officer, said. “While we have expanded all over the world since our founding, Stamford continues to be a critical region for our success and we are confident we will continue to find the talent we need to help our business continue its growth.”

Indeed is the largest job site in the world, connecting job seekers to millions of employment listings in over 60 countries and 28 languages. The company’s website is utilized across the world by more than 250 million people each month, conducting any number of employment-related activities including searching for jobs, posting resumes, and researching companies.

The Department of Economic and Community Development (DECD) is supporting this newest expansion with a 15-year, $10 million low-interest loan for equipment and leasehold improvements. The company may be eligible for loan forgiveness if certain employment obligations are met. Indeed also may be eligible for up to $5 million in tax credits through DECD’s Urban and Industrial Site Reinvestment Tax Credit program.

“Connecticut is a great home for tech-focused companies like Indeed that depend on a talented workforce to innovate and grow,” DECD Commissioner Catherine Smith said. “Our partnership with Indeed will provide great economic benefits to the city, region, and the state for years to come.”

Posted by: Nicole@ExpansionSolutionsMagazine.com AT 01:42 pm   |  Permalink   |  Email

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