Cartus plans to expand Danbury headquarters, add jobs

Cartus Corp., a global relocation services company in Danbury, will stay in Connecticut and grow its footprint after considering expansion options in New York and Texas. As part of its $15.4 million expansion project, the company plans to retain 1,275 employees and create 200 new jobs over the next five years, according to a press release.

The state Department of Economic and Community Development will provide Cartus with a $6.5 million loan to cover part of the expansion cost, including the expenses of purchasing equipment and making leasehold improvements.

The package is a 10-year loan with 2 percent interest, but principal payments will be deferred for five years. If Cartus retains its current staff of 1,275 employees for the next five years, about $1.9 million of the principal will be forgiven, according to the press release. If Cartus adds 100 new jobs in the next five years, the state will forgive half the principal. The full loan will be forgiven if Cartus creates 200 jobs within the next five years, the release stated.

“Cartus has been proud to call Connecticut home for nearly 60 years, and we are committed to growing our operations here,” said Cartus president and CEO Kevin Kelleher in a statement. “This new investment will position the company for future success, and also allows Cartus employees and their families to continue to give back to the communities they know and love.”