Pitney Bowes to remain in Stamford, invest in Shelton site
Pitney Bowes has recommitted to its presence in Connecticut and will add 200 new jobs to its existing workforce of 1,600 employees in the state.
Under a plan boosted by state economic assistance and announced today, Pitney Bowes will have a new headquarters in Stamford — the city where it is now is based — and make investments in its facilities in Shelton and Danbury.
“We are thrilled that Pitney Bowes will remain in Stamford and intends to hire 200 additional employees in Connecticut,” said Gov. Dannel P. Malloy.
“Pitney Bowes has been a fixture in Connecticut for over 90 years and has exciting growth plans for its future in areas such as digital commerce and location intelligence,” Malloy said. “We are proud that the next chapter for this great company will be written in Connecticut.”
The company was founded in Connecticut in 1902 as the Pitney Postal Machine Co.
Will make $25 million in investments
The company’s expansion plan will involve investing $25 million in facility improvements, training and technology, according to a press release from Malloy’s office.
Mayor Mark Lauretti had been trying to convince Pitney Bowes to move its headquarters to Shelton, where the Fortune 500 company has a building on Waterview Drive.
Reports indicate the company had been seriously looking at potential sites in Westchester County, N.Y.
Pitney Bowes now is the second biggest taxpayer in Shelton, with its building and equipment in the city being assessed at $52 million, based on the 2012 Grand List.
The publicly-traded company also is one of the largest employers in Shelton. It is considered a firm with many high-paying jobs, employing thousands of workers around the globe with expertise in engineering and computers.
The agreement with the state includes investments in three Pitney Bowes facilities — the business operations center in Shelton, technology center in Danbury, and a new headquarters in Stamford.
“Our long-standing commitment to Stamford and the state of Connecticut is stronger than ever,” said Marc B. Lautenbach, Pitney Bowes president and CEO.
“On behalf of all of our employees around the world, I want to thank Gov. Malloy and his team for establishing a true partnership with our company,” Lautenbach said on Nov. 20. “Today’s agreement allows us to continue to make investments in Connecticut as we deliver value for our shareholders and clients.”
To receive loan, tax credits, job training grant
The state Department of Economic and Community Development reached a deal with Pitney Bowes under the state’s First Five program that will provide the company with a $15 million loan, of which $10 million is forgivable following the creation of the 200 new jobs during the next five years. The funds will be used for enhancements in technology, capital improvements, and machinery and equipment.
The company also will receive a sales and use tax exemption of up to $1 million for capital improvements; a $1 million job training grant; and up to $10 million in urban and industrial site reinvestment tax credits.
Pitney Bowes becomes the 11th company to be assisted by the state’s First Five program, which was created in 2011 to attract investment, spur job growth, and help industries become more competitive in the global marketplace.
Software, hardware and services
Pitney Bowes is best known for its postage meters and related equipment. It manufactures software and hardware and offers services for documents, packaging, mailing and shipping.
“Pitney Bowes provides technology solutions for small, mid-size and large firms that help them connect with customers to build loyalty and grow revenue,” according to the company’s promotional material.
“Many of the company’s solutions are delivered on open platforms to best organize, analyze and apply both public and proprietary data to two-way customer communications,” states the company’s website. “Pitney Bowes includes direct mail, transactional mail and call center communications in its solution mix along with digital channel messaging for the Web, email and mobile applications.”