Internet job site Indeed plans to bring another 500 jobs to its Stamford location at 177 Broad St., bringing its total employment in Connecticut to 1,700 workers.
The company had announced in July 2017 that it expected to add up to 500 jobs over the next couple of years.
Indeed plans to invest $66 million toward its expansion and is exploring real estate options to accommodate the growth, it said. The Department of Economic and Community Development (DECD) is supporting the latest expansion with a 15-year, $10 million low-interest loan for equipment and leasehold improvements.
The company may be eligible for loan forgiveness if certain employment obligations are met. Indeed also may be eligible for up to $5 million in tax credits through DECD’s Urban and Industrial Site Reinvestment Tax Credit program.
“We continue to invest in Connecticut because this region has helped us deliver on our mission of helping people get jobs since we started here 14 years ago,” said Dave O’Neill, Indeed’s chief operating officer. “While we have expanded all over the world since our founding, Stamford continues to be a critical region for our success and we are confident we will continue to find the talent we need to help our business continue its growth.”
“Indeed’s expansion in our state is great news for the well-trained, talented, and sought-out workers in Connecticut’s tech sector,” Gov. Dannel Malloy said. “This is a global, innovative company that has recognized the benefits that Connecticut brings to the tech industry. We welcome the company’s capital investment in our state and the growth of hundreds of high-quality jobs that will follow.”
Maintaining that it is the world’s largest job site, Indeed oversees employment listings in more than 60 countries and 28 languages. The company’s website is utilized by more than 250 million people worldwide each month.