Contact: Dave Steuber
June 5, 2012
Today State Senator Carlo Leone (D-Stamford) welcomed the announcement by Governor Dannel P. Malloy that Tronox Inc. will soon establish its global corporate headquarters in Stamford, creating up to 100 jobs in the city within three years.
“The arrival of Tronox’ global headquarters in Stamford is great news for our city, and the jobs this creates will be a great boost to our local economy. A report issued today indicates that Connecticut has the second fastest growing economy on the East Coast, and the Tronox announcement is only further evidence of that. Connecticut is indeed open for business. I would like to thank Governor Malloy and Commissioner Smith for working to make this possible,” said Senator Leone.
Tronox is one of the world’s largest producers of titanium dioxide (TiO2), commonly used to whiten and brighten pigments in a broad range of residential and commercial products. The company will soon move its global headquarters from Oklahoma City to Stamford, where it will lease and fit out approximately 30,000 square feet of office space at 1 Stamford Plaza.
Tronox will make a $10 million capital investment in Connecticut as part of its move. Financial assistance is being provided through the Department of Economic and Community Development (DECD). The company will receive a 10-year loan of $3 million at 2 percent interest. Funding will be used for office fit-out, the purchase of office equipment, IT equipment and job training needs.
Tronox may also be eligible for benefits through the Job Expansion Tax Credit and Enterprise Zone programs. The Job Expansion Tax Credit was expanded significantly in a bipartisan Jobs Bill supported by Senator Leone last fall.
While a member of the House of Representatives, Leone was the driving force behind creation of the Stamford Enterprise Zone, which provides for a special lower property tax rate for new businesses in downtown Stamford. The lower rate has already helped to attract many businesses to the city, including the new Chelsea Piers Connecticut complex and NBC Sports.
State Senator Carlo Leone is serving his first term representing the 27th Senatorial District communities of Stamford and Darien. He is Senate Chair of the Veterans’ Affairs Committee.
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