Malloy Expands Job Creation Program

Connecticut Governor Dannel P. Malloy announced on Tuesday that ESPN Bristol would take part in the state's "First Five" program, becoming the third CT company to do so. 

One of the goals behind ESPN Bristol's addition to First Five appears to be job creation.  "As part of its expansion, the sports media company broke ground on the new Digital Center 2, the 19th and largest building on ESPN’s Bristol, Conn. campus," said a media representative of Gov. Malloy in a press release. 

"ESPN’s commitment will create a minimum of 200 new full-time jobs within five years, with incentives for up to 800, and reaffirms the company’s baseline of more than 3,800 full-time employees in Connecticut."

Malloy stated that as an "iconic Connecticut company", ESPN's roots in the state will further cement CT's reputation as a "leading state in which to do media business."

“Under the ‘First Five’ program, I want to ensure that the state will support innovative companies, no matter how big or how small, if they continue to create jobs and make capital investments that will directly benefit the economy,” Malloy stated in his announcement. 

According to Malloy, ESPN's participation in First Five could bring about the following benefits:

• A 10-year, $17.5 million loan from the Department of Economic and Community Development (DECD) for the construction of the facility and the creation of at least 200 jobs.
• Up to $1.2 million to fund a job training grant program ranging from $300,000 for 200 jobs created to $150,000 for each additional 100 jobs created up to 800 jobs.  Job training will be developed based on ESPN’s needs.
• The Connecticut Development Authority may also assist with up to $6 million in sales use tax exemptions on capital equipment and construction materials.

“This new partnership with ESPN is the latest example of the state's proactive approach to supporting companies and industries that are important to its long-term economic health,” DECD Commissioner Catherine Smith stated.