Gov. Malloy: Charter Communications Moving Corporate HQ To Stamford

STAMFORD, Conn. (CBSNewYork) - The fourth-largest cable operator in the country is relocating its corporate headquarters to Stamford.

Gov. Dannel Malloy's office confirmed Charter Communications has left its corporate center in St. Louis in favor of Stamford.

WCBS 880 Connecticut Bureau Chief Fran Schneidau reports

The move is part of Gov. Malloy's "First Five" initiative, which offers companies incentives to expand or relocate to the state.

Gov. Malloy's office said under the project, Charter Communications is expected to create 200 jobs.

"So I think there is going to be a terrific opportunity for people here in the Stamford area and the Fairfield County area to find employment with Charter Communications," Stamford Economic Development Director Laure Aubuchon told WCBS 880 Connecticut Bureau Chief Fran Schneidau.

Stamford's mayor said the "First Five" program has helped keep the unemployment rate flat in the city.

"We've got a very skilled population. The jobs are being brought here because the people to fill them are here as well," Mayor Michael Pavia told Schneidau.

Stamford's unemployment rate is more than a point lower than the overall state jobless rate, Schneidau reported.

Charter Communications is the latest of several companies to bring its corporate headquarters to Connecticut under Gov. Malloy's program, which went into effect in July 2011.

"I think it's quality of life, I think it's access to talent which is always the major driver in the 21st century. It's certainly our proximity to New York City," Aubuchon said.

According to Charter's website, the company provides video, high-speed Internet and telephone services to more than five million customers in 25 states.

"First Five" boosts and combines the state's best incentives and tax breaks to encourage job creation, according to the governor's office. The tax credits continue for each net new job above 200 added by the company, the governor's office said.

The goal of the program, according to the governor's office, is to attract new business, keep companies from leaving the state and encourage growth within Connecticut.

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