HARTFORD — Stanley Black & Decker is coming to Hartford.
The company announced recently that it plans to build a new facility in the capital city at 1 Constitution Plaza and is expected to employ 50 people.
The global leader will use some of the 23,000 sq foot space to make improvements on their tools and cyber security, officials said. The rest of the space will be to help startup companies in advanced manufacturing grow their businesses.
Stanley Black & Decker’s President and Chief Executive Officer Jim Loree said they have worked closely with the mayor’s office and “are excited to be a part of building a vibrant, strong capital city.”
“With the budget now passed, the hard work can begin to solve some of the state’s structural fiscal challenges and put the state on a more sound economical path. We cannot lose the sense of urgency and must recognize that the state is at a critical juncture. As a company founded in New Britain, Connecticut, almost 175 years ago, we have expressed our commitment from a social responsibility perspective to being part of the solution,” Loree said in a statement on Tuesday.
Hartford Mayor Luke Bronin said Stanley Black & Decker will help “reinvent manufacturing” right in Hartford:
“We have been in discussions with CEO Jim Loree and senior leaders at Stanley Black & Decker for many months about the possibility of establishing a center of excellence in Hartford, and today’s announcement represents a huge win – not just for Hartford, but for Connecticut. The launch of the STANLEY+Techstars Additive Manufacturing Accelerator comes just a few months after the launch of the InsurTech Accelerator, a public-private partnership with Hartford’s major insurance companies. Our goal is to make Hartford a hub for innovation in our region’s core industries – from insurance to healthcare to advanced manufacturing – so that cutting-edge innovation and entrepreneurship happens right here in Connecticut. I want to thank Jim Loree and Stanley Black & Decker for their commitment to Hartford, and I’m looking forward to working with them as we position Hartford and Connecticut for the next century,” Bronin said in a statement on Tuesday.