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Business & Tech

Norwalk-based FactSet to Add Jobs with DECD Loan

The low interest loan will help the company expand its business and create up to 200 new jobs for residents over the next five years, according to a press release from Gov. Dannel Malloy's office.

-based FactSet Research Systems Inc., a financial data and software company, has reportedly been approved to receive a 10-year, $2 million loan at a rate of 2.5 percent from the state Department of Economic and Community Development (DECD).

According to a press release from Gov. Dannel Malloy's office, the low interest loan will help the company expand its business and create up to 200 new jobs for residents over the next five years. Depending on the number of new jobs the company creates, it could be forgiven the loan.

“By changing how the state partners with business, reducing bureaucracy, and speeding up how we invest and support Connecticut companies, we are setting the stage for an economic revival,” said Gov. Malloy, , in the release. “Our unemployment rate, once 9.2 percent, continues a steady decline and is now lower than the national average. But we need to do more to ensure that our economic recovery continues. By supporting the expansion of FactSet... we are sending a strong message that we are serious about turning around decades of no-growth.”

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“The key to getting the economy back on track is helping companies like FactSet grow and hire new workers,” said state Senator Bob Duff, D-Norwalk. “FactSet is a global company that stays true to its roots here in Norwalk. This is an investment that will come back to the state tenfold in the amount of jobs it creates and the boost it will no doubt give the economy here.”

FactSet, which currently has about 641 employees, provides analysts, portfolio managers and other investment professionals with access to financial data, according to the company's website.

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