Xerox to Stay in Connecticut after State Offers Low-Interest Loan

WNPR reports that Xerox has announced it will keep its headquarters in Norwalk, Connecticut, after it splits off into two companies, Conduent and Xerox Corporation, on December 31, 2016. The state of Connecticut will give Xerox a $4.4 million low-interest loan to retain its 150 workers in Norwalk. Xerox said it may also add between 20 and 40 jobs over four years.

The 10-year loan will also help finance the purchase of equipment and improvements at Xerox’s Norwalk headquarters.

“The Xerox Corporation’s announcement removes all uncertainty regarding the location of the company’s headquarters,” commented Connecticut Governor Daniel P. Malloy.

Conduent, which will be devoted to business-process outsourcing services, has selected New Jersey for its headquarters. Xerox will focus on office-imaging technology – including printers and copier/MFPs, their related supplies and software – and document-outsourcing.

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