STAMFORD, Conn. — After working for several months in temporary office space, Tronox celebrated the opening of its new headquarters in Stamford Plaza Monday evening.
“Stamford has everything you want,” said Tom Casey, CEO and chairperson of Tronox, during the party, specifically mentioning the people, the transportation and setting the company now has in Stamford. “We are very excited about our future.”
Before moving from Oklahoma City, Tronox considered 10 major market locations on three different continents before deciding to uproot to Stamford in late May, he said.
“I can’t tell you how proud that makes me,” Mayor Michael Pavia said after hearing about the competition that his city beat out. “Stamford, Connecticut is the right place for Tronox and we’re glad you’re here.”
“Connecticut is a place for winners,” Gov. Dannel Malloy said, adding that when successful companies move to the state is improves Connecticut’s value and that Tronox is a company that does that. According to Casey, Tronox should end the year with $2.5 billion in revenue.
Tronox is one of the largest titanium dioxide producers and marketers globally with operations in the U.S., Europe, Australia and South Africa, a news release from the state said. Titanium dioxide pigment is used to brighten and whiten products including paint and plastics, the release said.
With the move to Stamford, Tronox will receive a 10-year loan worth $3 million from the state at an interest rate of 2 percent, the release said. If the company creates 60 jobs in the first year it's in Connecticut, $2 million will be forgiven, and if it creates and retains 100 jobs within the first three years, the loan will be completely forgiven, the release said.