Mayor Pavia is glad Stamford is known for its financial institutions, ans he loves having them here. He just believes as the city grows, the perception of for what Stamford can provide a home will continue to change and diversify.
"[Charter Communications CEO Tom Rutledge] mentioned the company was relocating to the city of Stamford because he saw the vitality of other businesses that can help his business," Pavia said. "I think that sums it up beautifully. We have such a diverse base here, every need you might have from a business standpoint to grow is here for you."
Pavia said with every addition of a major company like Charter, the kind of appeal Stamford exudes as a potential home for major companies broadens as different kinds of potential employers witness how the city can provide for their own needs.
"Once a company like Charter Communications comes in, Stamford is their home," Pavia said. "They'll participate in community events and they'll do things with the interest of the betterment of the community in mind, so we certainly welcome Charter and all that they will bring to our community."
The announcement of Charter Communications joining the City of Stamford and taking up two floors of 400 Atlantic Street is the ninth of the "Next Five" endeavor from the Connecticut Department of Economic and Community Development. The program initially began as a reward-incentive program for companies that brought their business to Connecticut titled "First Five." However, there has been so much interest since its inception, the program has expanded to fifteen.
"This program and this day is another chapter of our success," said Governor Dannel P. Malloy. "We're bringing a Fortune 500 firm's headquarters to Connecticut. We're very happy that you chose us, Tom. We think we're the right location. This really fits one of our sweet spots, communications."
Malloy called Stamford a digital communications hotspot and said it's proximity to New York, low tax rate and the second most-frequently-stopped-at train station next to Grand Central make Stamford an easy sell.
"We're proud to be here and are very thankful you decided to come to Stamford," Malloy said before joking, "It was nice for the mayor to give his permission as well, so I want to thank him."
Charter will receive a $6.5 million, 10-year loan at 2-percent with principal payments deferred for three years as part of the incentive to bring what the company anticipates will be more than 200 jobs to the city. The loan, or portions of it, may be forgiven if certain milestones are met and provisions are included for future job growth.
Charter said they couldn't have gotten a better deal in a better place.
"It's a pleasure to come to this community with the help of an act of state and local effort," Rutledge said. "We appreciate the outreach that you've shown us... It's good to be in place where you have contact with other businesses that will allow yours to be creative and thrive and grow."