Officials with Praxair, a Fortune 250 company, announced that they will build a new $65 million global headquarters in Danbury.
Gov. Dannel P. Malloy and officials with Praxair announced this morning that the company, a global leader in industrial gases, will build a $65 million world headquarters in the city.
Steve Angel, the company’s president and chief executive officer, said that while the Fortune 250 company with sales exceeding $12 billion a year was courted by economic development officials from a number of states including Texas and New York, they decided to stay in Danbury.
The company is currently headquartered at the Matrix Corporate Center off Old Ridgebury Road.
Malloy said the company plans to build a 100,000 square foot facility in the city and that they plan to hire an additional 120 employees during the next five years. The company currently has about 535 employees in the state.
Malloy said the state Department of Economic and Community Development is supporting the new headquarters with a package that includes a $10 million forgivable loan as well as $20 million in tax credits through the state’s Sales and Use Tax Exemptions program.
U.S. Rep. Elizabeth Esty, who was also involved in the more than year long negotiations with the company, was also on hand Friday for the announcement, which was held at the offices of the Greater Danbury Chamber of Commerce on West Street.