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Conn. Gives Charter $10 Million Loan, $10 Million Tax Credits for Its New Headquarters

Phillip Dampier October 3, 2017 Charter Spectrum, Public Policy & Gov't No Comments

Connecticut taxpayers will underwrite the cost of Charter Communications new 500,000 square foot, 15-story headquarters building with a $10 million direct loan and an additional $10 million in tax credits.

The cable company, which has the highest paid CEO in the United States, will use taxpayer dollars to help fund its new corporate offices at the Gateway Harbor Point, with an option to further expand the site into a two building campus. It won taxpayer support for committing to create 400 jobs in 2012 under the state’s First Five Program. Now it has agreed to create an additional 1,100 jobs at its corporate headquarters in Stamford and make an investment of $100 million in capital expenditures in Connecticut over several years. The more jobs Charter creates in Stamford, the more tax credits the company can receive.

“Since relocating Charter’s headquarter operations to Stamford in 2012, the company has undergone a transformation to become the second largest cable provider in the U.S.,” said Tom Rutledge, chairman and CEO, Charter Communications. “This new, state-of-the-art facility in downtown Stamford will provide Charter the necessary resources to facilitate its continued growth. We are excited to continue expanding in Connecticut, and thank Governor Malloy, Mayor Martin, the Connecticut Department of Economic and Community Development, and the entire Stamford-area federal, state and local delegation of elected officials for their continued partnership and support.”

“Today is a great day for Connecticut,” said Governor Dannel P. Malloy. “Charter’s announcement to create an additional 1,100 jobs shows that our strategic investments are continuing to spur economic growth and create good paying jobs in the state. We look forward to the continued success of Charter Communications as they grow within the state.”

What has been good for Connecticut has not proven so great for Charter Communications workers in other states. Several hundred have been laid off, mostly at call centers. But a number of employees working at Time Warner Cable’s headquarters in Manhattan have also left.







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  • Chris: Im in Tri-Cities, WA and just caught wind of the upgrade. Charter said they'd be doing this at some point over the last year and it finally happened f...
  • JayS: It will be interesting to see how companies in Utility-Monopoly like markets (Cable Tv, Electric, Wired Internet) treat the "tax rate windfall". Then...
  • Adam Bryant: Please give us any updates you have on this! I received an approval letter on 11/29/2017 12:16 PM sayign they would be sending a check within 10 busin...
  • jgbbmodelrailroad: New York State has a weird law that means Internet Service Providers pay they same taxes on infrastructure regardless of how many customers it serves,...
  • nanaki: If your on a 100mbit card you will not see a full 100 mbit but do to over head will see between 70 and 85 90 if your computer and network are brand ne...
  • Jose: I can strongly relate to your frustration. My elderly neighbors were having issues with their Spectrum phone line always going down. It took about 6...
  • Jose: I believe there is some truth to the price of the cable box. Before my next door neighbors switched over to a Spectrum plan, they were paying about $...
  • Phillip Dampier: Charter has not fully converted former Time Warner Cable customers to its legacy Charter website and support platform, which is why TWC customers ente...
  • Phillip Dampier: Folks, I should have been more clear that this list is for approved CUSTOMER-OWNED modems for Charter/Spectrum customers. It does not include modems s...
  • Curious George: use this list too the ubee is on this list under Modems offered by Spectrum https://www.timewarnercable.com/en/support/internet/topics/modems.html#/...
  • Josh: sigh Capitalism, whee!...
  • EJ: Yep, yep they have essentially created another way to profit off of their shotty lower up time network. Give the guy that thought of this a big fat ra...

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