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News : Business Dec 12, 2013 - 11:08:43 AM

Malloy: HomeServe USA to expand and create 130 jobs in Norwalk

By Governor Dannel P. Malloy's office

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Hartford, CT – Governor Dannel P. Malloy on Wednesday announced that HomeServe USA Corp. is relocating its corporate headquarters to Norwalk. The Department of Economic and Community Development (DECD) is providing financial support for the $33 million project to help HomeServe retain 109 jobs and create an additional 130 jobs as the company expands its presence in the state over the next five years.

“HomeServe has been in business over ten years providing homeowners throughout North America with service plans that protect them from water, sewer, electrical, HVAC and other home emergencies,” said Governor Malloy. “The state’s investment in support of HomeServe’s relocation will help foster further growth for the company and create good-paying jobs with good benefits for Connecticut residents. HomeServe is a company that continues to be a leader in this innovative segment of the service industry and we are pleased that they call Connecticut home.”

HomeServe, which is currently based at 750 East Main Street, Stamford, is in the process of moving to the Merritt 7 Corporate Office Park at 601 Merritt 7 in Norwalk. The larger facility will offer the company more space as it continues to expand its employee base in the state.

“Fairfield County has proven to be a great place to do business. Our team has grown to over a hundred employees here and we look forward to continued growth at our new headquarters in Norwalk,” said Tom Rusin, CEO of HomeServe USA. “I’m encouraged by the Governor’s ongoing commitment to fostering business and economic development in our area and throughout the state of Connecticut.”

HomeServe will receive a $3 million loan that is partially forgivable if job targets are met and a $1 million grant. Funds may be used for the purchase of software, leasehold improvements, relocation costs, purchase of new furniture, marketing, training and other project-related costs. The company will also be eligible for up to $5 million in Urban and Industrial Sites Reinvestment Tax Credits.

“I am very excited that HomeServe is moving to Norwalk and look forward to being present at their opening,” said Senator Bob Duff (D-Norwalk). “Not only will they retain many jobs in our state, but they will also create 130 new jobs over the next five years. Their growth trajectory is impressive. I'm pleased that they are calling Norwalk home.”

HomeServe USA, the American arm of HomeServe plc, was established in 2002 in Miami, FL and began providing service to customers in 2003. The company opened the Stamford office in 2008, followed by offices in Chattanooga, TN and technician sites in the metro New York and New England areas in 2010. Today, HomeServe provides service plans to over 1.4 million homeowners in the U.S. and Canada through partnerships with leading utilities and directly to consumers under the HomeServe brand. The company celebrated its 2 millionth service contract milestone earlier this year.

“A key part of our business retention and recruitment efforts is building partnerships with growing companies like HomeServe,” said DECD commissioner Catherine Smith. “With our flexible financing tools we can ensure that this type of expansion project takes place within our borders—and not in a competitor state.”

The State Bond Commission is expected to approve the funding at its December 13th meeting in the Legislative Office Building in Hartford.

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