A Stamford-based job search firm plans to add hundreds of employees, thanks to a $10 million loan from the Connecticut state government.
Indeed plans to invest $66 million toward its expansion and is exploring real estate options to accommodate the growth, according to an announcement from the Office of Gov. Dannel Malloy. The company currently leases office space at 177 Broad St. in Stamford.
The HR tech company, is now planning to add an additional 500 workers in Stamford, bringing its total employment in Connecticut to 1,700 workers. Indeed’s website is utilized across the world by more than 250 million people each month, according to Malloy’s announcement, conducting any number of employment-related activities including searching for jobs, posting resumes, and researching companies.
The expansion was aided by a 15-year, $10 million low-interest loan for equipment and leasehold improvements from the state Department of Economic and Community Development. The company may be eligible for loan forgiveness if certain employment obligations are met. Indeed also may be eligible for up to $5 million in tax credits through DECD’s Urban and Industrial Site Reinvestment Tax Credit program.
“Indeed’s expansion in our state is great news for the well-trained, talented, and sought-out workers in Connecticut’s tech sector,” Malloy said in a statement. “This is a global, innovative company that has recognized the benefits that Connecticut brings to the tech industry. We welcome the company’s capital investment in our state and the growth of hundreds of high-quality jobs that will follow.”
“We continue to invest in Connecticut because this region has helped us deliver on our mission of helping people get jobs since we started here 14 years ago,” Dave O’Neill, Indeed’s chief operating officer, said in a statement. “While we have expanded all over the world since our founding, Stamford continues to be a critical region for our success and we are confident we will continue to find the talent we need to help our business continue its growth.”
