NBC Sports Group Officially Announces Move To Connecticut With Tax Incentives
Connecticut Gov. Dannel Malloy yesterday officially announced a $100M deal with NBC Sports Group, which “plans to bring about 450 permanent jobs to the city as part of the state's ‘First Five’ economic development program,” according to Kate King of the STAMFORD ADVOCATE. In addition to “being eligible for tax credits -- 30 percent on production, 20 percent on infrastructure -- the state has agreed to grant NBC a 10-year, $20 million loan at an interest rate of 1 percent.” The agreement will bring NBC Sports to Stamford in addition to “other elements of the network that were part of Comcast's takeover earlier this year.” The 32-acre site is “to house NBC Sports, NBC Olympics, NBC Sports Digital, Versus ... and the Comcast Sports Management Group, which oversees the NBC Sports Group's 11 regional networks.” NBC Sports Group Chair Mark Lazarus said that the network will “produce its college football, Olympic and Indy Car coverage out of Stamford as well as ‘daily relevance’ talk shows.” The NHL Network will also “build studio space on the property that will house most of the network's personnel and create additional jobs that are not included in the 450 figure.” Lazarus said that NBC Sports Group “plans to begin operating in Stamford by the start of next year's NHL season.” NBC's $20M loan is “forgivable on the condition NBC achieves certain hiring benchmarks” (STAMFORD ADVOCATE, 10/26). Lazarus said that the company “is creating one 32-acre site, allowing it to build numerous studios and plan for growth” (AP, 10/25). DAILY VARIETY’s Sam Thielman noted NBC’s "Football Night in America" and “salespeople working with the Madison Avenue-based industry” will remain in N.Y. (VARIETY.com, 10/25). Golf Channel “will remain in Orlando” (HARTFORD COURANT, 10/26).