STAMFORD, Conn. — Charter Communications will move its headquarters to Stamford, the company announced Tuesday, a move that will bring 200 jobs to the city.
Some of those 200 corporate jobs will be filled by transfers from Charter's other offices around the country. About 70 are coming from St. Louis, and more are coming from other locations, Tom Rutledge, president and chief executive officer of Charter Communications, said during a press conference Tuesday. The company has already begun the hiring process for its Stamford location, he said.
Charter Communications has long-term plans to add 300 “middle-class, blue-collar” jobs to the state as it increases its operations in Connecticut, Rutledge said. “We are creating a diverse group of jobs,” he said.
The cable provider looked at several places for its corporate headquarters in the New York City metropolitan area before choosing Stamford, Rutledge said.
“Stamford and Connecticut ultimately won out,” Rutledge said. He mentioned the transportation, quality of life and other businesses in the city as making Stamford the best choice for the company.
The company will move into 400 Atlantic St., where it will lease two floors and about 70,000 square feet of office space, a news release said. Rutledge hopes the company can move into its new location by the end of the year.
In addition to adding jobs, the company will invest more than $10 million in the state, the release said. It also becomes the ninth company to participate in the state’s Next Five program, said Catherine Smith, commissioner of the Department of Economic Development.
Smith’s department will provide Charter with a 10-year loan of $6.5 million at 2 percent interest, with principal payments deferred for three years, the release said. The loan, or a portion of it, may be forgiven based on hiring milestones, the release said.
Charter Communications is a Fortune 500 company and the fourth-largest cable operator in the country, providing a full range of broadband services, the release said. The company will maintain its corporate offices in St. Louis and Denver.