Starwood Hotels & Resorts Worldwide today announced it will relocate its global corporate headquarters from New York to Stamford, bringing millions of dollars in investments and 800 jobs to Connecticut.
The company plans to occupy 250,000 square feet of space at Stamford’s waterfront Harbor Point development and will make the move by January 2012, creating more than 800 full-time Connecticut-based positions within two years.
Plans call for Starwood to partner with the landlord to invest $40 million into renovating the existing facility.
Starwood Hotels is the third largest lodging company in the U.S. with 982 hotels in nearly 100 countries and nine brands including Sheraton, Westin, St. Regis and W Hotels.
Gov. M. Jodi Rell said today in a statement that she and her economic development team worked with Starwood executives for months to make the deal happen.
 “I am thrilled to see a company of Starwood’s stature make the business decision to move here and invest here,” Rell said. “It is a triumph for Connecticut – and it speaks volumes about what our state has to offer businesses.”
The Department of Economic and Community Development will assist the project with a $9.5 million loan and up to $75 million in Urban and Industrial Site Reinvestment Tax Credits. In addition, Starwood expects to receive up to $5 million in sales tax exemptions on building materials through the Connecticut Development Authority.
The exemption is subject to approval by CDA’s board of directors.
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