A Stamford underwriter of emergency household-repairs is getting state aid to stay in Connecticut but relocate headquarters to Norwalk, authorities say.
HomeServe USA Corp. is allocating $33 million to move facilities, equipment and 109 jobs from 750 E. Main St. in Stamford to Norwalk’s Merritt 7 Corporate Office Park, the governor’s office and the company announced Wednesday.
The state pledged a $3 million loan and a $1 million grant, both from the state Department of Economic and Community Development, to aid the headquarters transition. The money will buy software, furniture, conduct training and do anything else related to its move and expansion, officials said.
The loan is partly forgivable if HomeServe delivers another 130 jobs as it expands in the state by 2018, officials said. The company will also be eligible for up to $5 million in reinvestment tax credits.
Ten-year-old HomeServe provides North American homeowners with service plans that do emergency repairs to water, sewer, electrical, heating-ventilation-air conditioning, among other things.
The State Bond Commission must approve the funding at its Dec. 13 meeting.
