Starwood Hotels & Resorts Relocates to CT

STAMFORD, CT-Starwood Hotels & Resorts has relocated its global headquarters to Stamford, bringing over 800 jobs to the area, in a move from White Plains, NY. The company is now located in the Harbor Point development at One StarPoint, an address that was rebranded from 333 Ludlow St. over the summer.

When the planned move was announced in 2009, Frits van Paasschen, president and CEO of Starwood noted the “meaningful incentives” that the company was offered for the move. These amounted to almost $2 million per year in savings on rent expenses, over 15 years. Additionally, the Dept. of Economic and Community Development is assisting the company with a $9.5 million loan and a maximum of $70 million in Urban and Industrial Site Reinvestment Tax Credits. And it’s expected that Starwood will get up to $5 million in sales tax exemptions on building materials through another Connecticut agency.