Another Business Lured to Connecticut: ITT Inc to Relocate Corporate HQ to Stamford from White Plains

Governor Ned Lamont announced that another business is moving its corporate headquarters to Connecticut.

On Thursday, Lamont announced that iCapital Network plans to expand its operations by opening an office in Greenwich, creating 200 jobs in Connecticut over the next two years.

Earlier in the week, Phillip Morris International, one of the world’s leading tobacco companies announced it will move their headquarters from New York to Connecticut.

On Friday Lamont announced that ITT Inc (NYSE: ITT), a leading global manufacturer and technology company, is relocating its corporate headquarters from White Plains to Stamford.

ITT manufactures highly engineered components and develops customized technology solutions for the transportation, industrial, and oil and gas markets.

The global company employs approximately 9,700 employees in more than 35 countries. The company’s 24,000 square-foot headquarters is located at 100 Washington Boulevard in Stamford. The move will bring 57 jobs to the state.

“Our administration has been laser-focused on doing everything we can to get Connecticut’s economy growing again, and having a company with a worldwide reputation like ITT deciding to move their global headquarters to our state is nothing but a win,” Governor Lamont said on Friday. “I appreciate the team at ITT, including CEO Luca Savi, on selecting Connecticut, and I look forward to having a strong working relationship as this company continues to grow here.”

“We are excited to begin a new chapter at ITT in the vibrant city of Stamford, Connecticut,” Luca Savi, president and CEO of ITT Inc, said. “Stamford’s rich history and prime location will provide the perfect home for our new global headquarters and will allow us to grow and build upon ITT’s long history. As a global manufacturer and developer of highly engineered components and technology, we are confident that our newly designed space will inspire innovation and collaboration and provide better solutions to serve our customers. We look forward to our move later this year.”

“ITT has recognized, like other industry leading businesses, that Stamford is an ideal location for a corporate headquarters,” said Stamford Mayor David Martin. “The city offers the critically important resources that a company needs, including an innovative culture, a highly skilled and well-educated workforce, great transportation options, and a wonderfully diverse community that meets a broad range of needs and interest. The move is an example of the high-quality companies and jobs the city and the state have been working together to attract to the region, and I am proud to welcome them to Stamford.”

“Connecticut is a national and global leader for advanced manufacturing because of our highly trained and educated workforce, and we welcome ITT to Stamford,” Congressman Jim Himes said. “ITT’s move to Connecticut will not only add jobs to the state but help cement our position at the forefront of the innovation economy. The word is spreading that Connecticut is committed to creating an environment that matches workers with leading companies, and ITT is an example of how we’re succeeding.”

“We are honored that ITT chose Harbor Point as the site for its new global presence,” Carl R. Kuehner III, chairman of Building and Land Technology, said. “Our community’s desirable location, coupled with the flexible offerings we can provide in terms of health and wellness, underscore the promise our city and state hold to attract global talent and be competitive with major markets.”

The Connecticut Department of Economic and Community Development is supporting the project by providing a grant in arrears up to $1,995,000, contingent on the company creating and retaining up to 57 new full-time jobs.

“Under the strong fiscal leadership of Governor Lamont we are beginning to see some real economic momentum in Connecticut, much of it propelled by companies like ITT that are making the strategic decision to invest, grow and relocate here,” DECD Commissioner David Lehman and Peter Denious, President and CEO of AdvanceCT said in a joint statement.

See also:

iCapital Network to Open Greenwich Office, Create 200 Jobs