Hedge fund Bridgewater Associates, with support from Connecticut, will construct a new headquarters in Stamford, announced Gov. Dannel Malloy.
Bridgewater Associates, now in Westport, manages roughly $130 billion in assets. The firm intends to construct the $750 million project along the waterfront.
Backing under the state’s “Next Five” economic development initiative will include a $25 million forgivable loan, at 1% for 10 years, for the construction of the facility, completion of which is expected in 2017; a training grant of up to $5 million; a separate grant of up to $5 million to install alternative energy programs; and up to $80 million in Urban and industrial sites reinvestment tax credits.
