Stamford Connecticut will be welcoming more than 1000 new jobs in the next decade thanks to Connecticut hedge fund Bridgewater Associates. The company plans to build its new corporate headquarters in Stamford.
This news is more than welcome in a part of the country that's been hemorrhaging finance jobs for the last year.
One of the world's largest hedge fund managers, Bridgewater is leveraging help from the state of Connecticut to build its new dream home. Governor Dannel Malloy has agreed to sign off on a $25 million "forgivable" 10-year loan, at just 1% interest, as well $10 million for job training and alternative energy systems. The hedge fund will also receive $80 million in state tax credits.
Bridgewater founder Raymond Dalio has a lot of work to do over the next decade if he expects to hit the governor's goal of creating 1,000 jobs. Founded in 1975, Bridgewater currently employs roughly 1,200 people at its Westport facility.
No word yet as to the type of positions that will be created, other than that they will be "high level" roles. Bridgewater currently manages about $130 billion in global investments.
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