Internet job site Indeed announces $26.5 million expansion

Published on Wednesday, 12 July 2017 16:43
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ASSOCIATED PRESS

STAMFORD - The largest internet job site in the world says it plans to spend $26.5 million to expand its offices in Stamford, growing the workforce from about 700 employees to more than 1,200 in the coming years.

Dave O'Neill, the chief financial officer of Indeed, is crediting Connecticut's “great talent pool” with helping the internet grow into a global presence, with more than 200 million users a month.

The company's expansion was announced Wednesday. The Connecticut Department of Economic and Community Development will provide a 15-year, $7 million low-interest loan to support the expansion, which includes more leased space.

State funds may also be used for new equipment and improvements. Indeed is also eligible for up to $15 million in tax credits and loan forgiveness if it meets certain employment obligations.



Posted in New Britain Herald, Business, General News, State on Wednesday, 12 July 2017 16:43. Updated: Wednesday, 12 July 2017 16:45.