Hartford and Connecticut got a powerful economic shot in the arm this week with the news that global information technology giant Infosys will build a $21 million innovation hub in the state's capital.
The India-based company's decision will create an expected 1,000 well-paying jobs in Hartford over the next four years.
Hartford will be one of four new centers Infosys is building in the United States as part of an overall expansion, with sites in Indianapolis, Providence, and Raleigh.
Infosys president Ravi Kumar said collaborative efforts by Connecticut business leaders and public officials helped sway the company's decision.
"I've never seen such a great network of businesses coming together for the common good," Kumar told a March 14 press conference at the state Capitol.
Public, Private Sectors Collaborate
Executives from CBIA member companies Cigna, Stanley Black & Decker, The Hartford, United Technologies, Travelers Insurance, and Hartford HealthCare were among the business leaders who campaigned with state officials to bring the company to Hartford.
CBIA president and CEO Joe Brennan said the decision demonstrated the "meaningful impact" that public-private sector collaboration brings to Connecticut's economic development efforts.
The business is here. The talent is here.
"The world really is changing very rapidly. Having an institution like this choose Hartford as one of their four hubs is a huge deal."
Infosys U.S. Expansion
Infosys announced last May that it planned on hiring 10,000 technology workers in the U.S. over the next two years, with a focus on artificial intelligence, data, cloud-based applications, digital technologies, and the Internet of things.
Kumar said the Hartford site will help the company better reach the New England market, expanding its services to clients in a number of key sectors, including insurance, healthcare, and manufacturing.
"The business is here. The talent is here," he told reporters.
"The region's position as the insurance capital of the world, paired with Connecticut's world-renowned academic institutions, will place Infosys in close proximity to valued clients and accelerate the recruitment of highly-skilled local talent."
Governor Dannel Malloy said the state will provide Infosys up to $12 million in grants after certain job creation milestones are met. The company is also eligible for up to $2 million in training grants supporting partnerships with education organizations.
Department of Economic and Community Development commissioner Catherine Smith said state incentives could support Infosys creating as many as 2,000 new jobs in Connecticut.