Charter Communications will start construction on a new 500,000-square-foot headquarters building in Stamford, Conn., next year, agreeing to add 1,100 new jobs in return for state tax incentives and loans amounting to about $20 million.

The 15-story building will be located at Gateway Harbor Point and construction should be concluded in 2019. Building and Land Technology, a Connecticut-based real estate developer, will construct the build-to-suit facility at 406 Washington Blvd., with an option to expand the site into a two-building campus. The project will break ground immediately following final land use approvals from the City of Stamford.

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"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.," Charter chair and CEO Tom Rutledge said in a statement. "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."

Charter relocated to Stamford from St. Louis, Mo., shortly after Rutledge took the helm, leasing a 15-story building on 400 Atlantic Ave. in the city’s downtown area and agreeing to create 400 new jobs. The new building comes with a commitment to add 1,100 new corporate positions, and Charter has agreed to a total of $100 million in planned capital expenditures in Connecticut over the next several years.

As a result of those commitments, the Connecticut Department of Economic and Community Development will provide an incentives package that includes a direct loan of $10 million and up to $10 million in tax credits. Additional tax credits are available if Charter further increases the total number of Stamford-based jobs. 

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"Today is a great day for Connecticut," Gov. Dannel P. Malloy said in a statement. "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."

The Gateway Harbor Point site was chosen for its close proximity to mass transit as well as its easy access to Interstate 95. The new headquarters is set to become the first commercial facility with direct access to the Stamford train station platform, providing employees with immediate access to both Metro-North and Amtrak Acela service. The building also provides for large floor plans which provide greater flexibility in workplace design.

Charter was represented in the transaction by the commercial brokerage team at Cushman & Wakefield.

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Incentives like a $6.5-million low-interest loan helped persuade Charter Communications to pick a site in Stamford, Conn., to move its corporate headquarters from St. Louis, Mo., CEO Tom Rutledge said at a press conference in downtown Stamford Tuesday.

“We chose Connecticut because the state was so responsive to us. And it’s a great location,” Rutledge said, speaking on one of two empty floors the company has leased in a 15-story building at 400 Atlantic Street, about half a mile from the Stamford train station.

Rutledge – who, like several top executives hired at Charter in the past year, lives near Stamford – said Charter opted to seek a New York City-area location for business reasons. “The biggest advantage for us is our access to the financial community, to the media community and to the transportational facilities. We're a multistate, national company, and having an office here that is operationally focused allows us to serve our constituents, our employees, which are scattered throughout the United States, easier. It’s easier to get to and from here.”

State officials, including Gov. Dannel Malloy (seen, at right, with Rutledge in the photo above), said Charter qualified for incentives under a program called “Next Five” that encourages companies to move to Connecticut or expand existing jobs here. Charter committed to creating 200 jobs in the Stamford building, and the state said the 2%-interest, 10-year loan to Charter can be forgiven in whole or in part based on job milestones.

Charter currently has about 2,800 employees in St. Louis, which also is home to the company’s biggest cable system. Spokeswoman Anita Lamont said Tuesday the 70 jobs expected to move from St. Louis to Stamford will be more than offset by 300 additional hires Charter plans to make in the city, including hires to accommodate the company’s growing Charter Business unit. Overall Charter is the fourth-biggest U.S. cable company with about 4.3 million basic video customers.

Corporate staff in legal and financial jobs are remaining in St. Louis, the company says. Charter also has engineering and programming staffers in Denver, who are remaining there.

Rutledge said Charter hopes to move into its new space later this year. He said the company also has plans to increase local jobs serving more than 100,000 cable customers in the state, jobs that would include installers, technicians and sales people.

Multichannel News yesterday was first to report Charter's site selection for what had previously been called just a New York City area office for top executives. Charter had not previously said the office would become its new headquarters, though it was clear that Rutledge, COO John Bickham and other key executives would work there. Connecticut officials said Charter agreed to invest $10 million in the move.