The Navigators Group Inc., a global insurance company, cut the ribbon on its new Stamford headquarters with Gov. Dannel P. Malloy Oct. 16.
“We couldn’t be more delighted,” Stanley A. Galanski, Navigators president and CEO, previously told the business journal after moving in September. “Our preference was always to be in Connecticut, but the costs just didn’t work for us before.”
With an $11.5 million state incentive package, Galanski said he”™s happy to now call Connecticut home, spending an additional $13.5 million beyond the package to set up shop. The company is a part of Gov. Dannel P. Malloy’s First Five economic development initiative, designed to attract and retain larger employers.
Employees left their previous offices in Rye Brook, N.Y. in September to settle into their new corporate headquarters at 400 Atlantic St. At the ribbon cutting, representatives also announced a five-year sponsorship with Connecticut nonprofit Kids in Crisis. The company will be the title sponsor of the group’s annual triathlon in Stamford.
More corporate welfare for a move from Rye Brook to Stamford that creates nothing, other than big profits for the guy who owns the office building (and probably donates to Molloy). Just outrageous!