Share |

Categorized | Neighborhood, Windsor

Dollar Street To Invest in Greater Hartford

WINDSOR — Gov. Dannel P. Malloy on Friday announced that Dollar Tree, Inc., which recently acquired a site in Windsor, will build a one-million-square-foot, $104 million distribution center and hire a minimum of 200 people within the next five years.  The state is supporting the project with a loan, training grant and tax credits.

State officials said that this new distribution center — with its 200 new jobs and nearly $100 million in private capital investment — could have been located in New York or Massachusetts but  Dollar Tree” decided to “invest and grow here is a positive sign that we are once again making Connecticut a competitive place to do business.”

Construction on the project in Windsor will start immediately, official said.  This phase of the project is expected to create more than 425 construction jobs over the next 12 months.  Upon completion, the new facility — the company’s tenth distribution center — will service the company’s stores across Connecticut, New York, New Hampshire, Vermont, Maine, Massachusetts and Rhode Island.  In addition, the facility is expected to generate significant incremental tax revenues to the community.

Leveraging company funds of $96.3 million, the Department of Economic and Community Development (DECD) will provide a $7 million loan at 1 percent for 10 years, with potential loan forgiveness based on the number of jobs created and a training grant of up to $500,000, officials said.  In addition, the company is eligible for up to $20 million in Urban & Industrial Sites Reinvestment Tax Credits.

 

Email us: editor@thehartfordguardian.com
LIKE Us on Facebook
Disclaimer: Comments do not necessarily reflect the views of The Hartford Guardian. The Guardian reserves the right to edit or delete comments. Once published, comments are visible to search engines and will remain in their archives. If you do not want your identity connected to comments on this site, please use a handle or an alias.
Advertise Here