The governor of Connecticut Jodi Rell announced plans for Starwood Hotels & Resorts to move its headquarters in January 2012 from White Plains, N.Y. to Stamford, Conn.'s Historic Waterfront. With the state's Department of Economic and Community Development granting Starwood a $9.5 million loan, up to $75 million in urban and industrial site reinvestment tax credits and $5 million in sales tax exemptions for building materials through the Connecticut Development Authority, "Stamford was an ideal choice," according to Starwood CEO Frits van Paasschen.
This will bring "millions of dollars in investments and 800 jobs to the state," Rell said. Other big companies like Pitney Bowes and Deloitte & Touche currently reside at Stamford’s Waterfront district; Starwood's new home will be Leadership in Energy and Environmental Design-certified.
"After an extensive search for new office space for our worldwide headquarters, it became clear that this particular space in Stamford was an ideal choice,” according to a van Paasschen statement. "Not only did the State of Connecticut provide meaningful incentives that translate to a savings of 20 percent per year in rent, but we will also have the opportunity to design office space that reflects Starwood's leadership in global hospitality, design and brand-building, as well as our commitment to the environment and our communities."
Another big hotel company also relocated this year. Hilton Hotels Corporation changed its name to Hilton Worldwide, following its move to McLean, Va., from Beverly Hills, Calif.