Gov. Malloy Announces NBC Sports Group is Fourth "First Five"
Move Will Consolidate CT Workforce and Create 450 Jobs
(HARTFORD, CT) - Governor Dannel P. Malloy today announced that NBC Sports Group will be the fourth company to take advantage of the "First Five" economic development program. NBCUniversal's NBC Sports Group will consolidate much of its northeast operations, including its existing Connecticut workforce, at new studios and offices in the former Clairol factory in Stamford. The project, slated to start in September 2012, will create 450 jobs and allow room for the company to grow in the future.
"This is a terrific project for the city and state, and one that I am proud to support as the fourth 'First Five.' The companies that are participating in this economic development program are job producers, and NBCUniversal has been doing that since it first arrived in Connecticut," Governor Malloy said. "Stamford has been home to NBCUniversal television production since 2008 when it retrofitted the Rich Forum Theatre in downtown to create the Stamford Media Center. As Mayor of Stamford at the time, I was supportive of the city and state assistance for the project because I understood its potential. I am strongly supportive of this expansion in Stamford because we continue to see the positive impact in the local economy and on the workforce."
The 32-acre site will house office space for NBC Sports, NBC Olympics, NBC Sports Digital, VERSUS (to be renamed the NBC Sports Network on January 2), and the Comcast Sports Management Group, which oversees the NBC Sports Group's 14 regional networks. The NBC Sports Group will also use the site to construct numerous state-of-the-art studios to house the company's growing need for studio content.
"This new campus is about bringing people together to maximize production, creativity and efficient teamwork," Mark Lazarus, Chairman of NBC Sports Group, said. "We are creating one 32-acre unique location that allows us to build numerous state-of-the-art studios, house more than 450 employees, and prepare for anticipated future growth. However, this initiative would not have been possible without the financial support of Governor Malloy's 'First Five' program and the local support provided by Mayor Pavia, who we look forward to working with for many years to come."
In addition, as part of its 10-year partnership with the National Hockey League, the NBC Sports Group will build a state-of-the-art studio for the NHL Network that will house most of the network's personnel and will create additional jobs in Connecticut that are not included in the 450 amount.
"This collaboration with the NBC Sports Group, including the construction of our new NHL Network studio in Stamford, will give our fans unprecedented year-round access to the game," NHL Commissioner Gary Bettman said. "NBC has been a great partner and has played a significant role in our strong growth over the past five years. We look forward to building on our relationship."
In support of the NBC Sports Group's capital investment and the commitment to retain and create full-time jobs in Connecticut, the state will provide a $20 million loan through the Department of Economic and Community Development, which administers "First Five."
The "First Five" program is designed to attract large-scale business development projects by augmenting and combining the state's best incentive and tax credit programs for the first five companies that create 200 new jobs within two years, or invest $25 million and create 200 new jobs within five years.
The first three companies to take part in the "First Five" program - CIGNA, TicketNetwork, and ESPN - were announced over the summer.
"The new NBC Sports Group presents a tremendous opportunity to build and develop this sector of Connecticut's economy," DECD Commissioner Catherine Smith said. "The state is increasingly seen as a great home to television, film and digital media, and this project - in terms of jobs and infrastructure - will help us create the needed critical mass that can successfully attract new industry players to Connecticut and the greater Stamford area. We thank NBC for making this large investment here in Connecticut."
For more information on Governor Malloy's "First Five" initiative, visit http://governor.ct.gov/FirstFive.