>Starwood relocation hits a bump

Share Button

>Connecticut pulled off a coup a few months ago when Starwood Hotels & Resorts Worldwide Inc., one of the nation’s largest hotel chains, agreed to relocate its headquarters to the state from New York. But the deal is hitting roadblocks over whether the state is seeking federal stimulus money to help pay for its promises.

At the time, Connecticut Gov. M. Jodi Rell awarded Starwood $90 million in public subsidies in exchange for the company’s 800 employees moving to Stamford from White Plains, N.Y. At roughly $112,000 per job, the package is the most expensive incentive plan Connecticut has offered, according to state officials. Under terms of the deal, Connecticut also agreed to make substantial infrastructure improvements, and it has filed or plans to file for $35 million in federal stimulus money to pay for it.

Read more:

About the Author