Nestl̩ Waters North America Inc. is relocating from Greenwich to Oracle Corp.Ӫs building in Stamford, investing nearly $28 million in an overhaul of the building with the state contributing incentives to keep the company and its nearly 500 jobs in Fairfield County.
Nestl̩ WatersӪ interest in the Oracle building was first reported Oct. 30 by the Fairfield County Business Journal; at the time, the company had confirmed it was analyzing lease options for its headquarters, which has been located at 777 W. Putnam Ave. in Greenwich, but did not comment on the Oracle building or other prospective locations.
In a press release issued by the office of Gov. M. Jodi Rell, Nestlé Waters indicated it has been considering alternative locations for more than a year, including undisclosed sites in Westchester County, N.Y.
“This innovative, creative company is dedicated to our state ”“ and dedicated to job growth and business expansion,” Rell stated. “They are exactly the sort of approaches that will help our economy weather this current downturn and emerge all the stronger when business picks up again.”
The Connecticut Department of Economic and Community Development is providing a $4 million loan to Nestlé Waters for improvements to the Oracle building at 900 Long Ridge Road in Stamford and the Connecticut Development Authority approved the company for up to $1 million in exemptions from Connecticut sales and use taxes. Nestlé Waters could be eligible to receive up to $5 million in urban and industrial site reinvestment tax credits.
Last week, Nestlé Waters pledged an initial $1 million in bottled water to assist in the earthquake relief efforts in Haiti, sending 20 truckloads of Poland Spring bottled water for shipment to Haiti with an additional 50 truckloads on the way.
