Bottled water manufacturer Nestle is to stay in Connecticut with the help of a low cost loan from the state. The company had been considering a move to New York state. WNPR’s Harriet Jones reports.
Nestle Waters has had its North American headquarters in Fairfield County since 1979, but according to Governor Jodi Rell’s office, the company has been considering a move from its present Greenwich location for more than a year. Among the options were locations in nearby Westchester County.
The state has offered Nestle a low cost loan of $4 million towards the retrofit a new building, and the company will now move to Stamford. Nestle says it will invest an additional $28 million in the new building, which will be significantly bigger than its current location. In addition to the loan, the state may also provide up to $5 million in tax credits. The move involves 475 jobs, and Nestle says it will create 25 more over the next three years. Nestle’s water brands include Perrier, San Pellegrino and Poland Spring.
For WNPR, I'm Harriet Jones.