Synchrony Bank

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Synchrony Financial

Overview

Synchrony Bannk

The need
A home of its own.

The solution
Assistance from the First Five program.

The story
GE Capital was spinning off its North American consumer-lending business. The business was included in GE Capital’s headquarters in Stamford, but the new company, to be called Synchrony Financial, was looking for its own headquarters.

Through the First Five program, the state agreed to provide up to $20 million in grants to help Synchrony Financial outfit its 312,000 square-foot headquarters in Stamford. Synchrony agreed to retain 310 headquarters' jobs and create 400 more, with the grants being released incrementally as the company met its job targets.