Westport hedge fund giant Bridgewater Associates is getting some $115 million in state assistance to move headquarters and jobs to Stamford’s Harbor Point development.
Gov. Dannel P. Malloy announced the package Wednesday at the site of the $750 million development underway in the city in the city where he was formerly mayor.
Bridgewater is the third of Governor Malloy’s “Next Five” program.
The aid package from the state Department of Economic and Community Development (DECD) includes:
• A $25 million forgivable loan at a rate of 1% for a term of ten years to be used for the construction of the new facility
• A job training grant of up to $5 million
• A grant of up to $5 million for the installation of alternative energy systems
• Up to $80 million in Urban and Industrial Sites Reinvestment Tax Credits.
Bridgewater manages approximately $130 billion in global investments for a wide array of institutional clients, including corporate and public pension funds, university endowments, charitable foundations and foreign governments and central banks.
“Connecticut is great place to do business and we are excited about this partnership with the State, which will allow us to expand and grow our business,” CEO Greg Jensen said in a statement.
