"Gov. Dannel P. Malloy announced Tuesday the state will invest more than $25 million in cable sports giant ESPN's plans to develop a second digital center on its main campus here.
ESPN, which has pledged to create a minimum of 200 jobs over the next five years, would be the third recipient of incentives through the administration's new "First Five" program.
"ESPN is an iconic Connecticut company, one that began with a handful of employees and has now grown into one of the giants in media and a worldwide leader in sports reporting and programming,"Malloy said. "With this investment in ESPN, Connecticut's reputation as a leading state in which to do media business is further strengthened."
Proposed by the governor and developed with the legislature, First Five gives the administration discretion to award "substantial financing assistance" annually to up to five new companies or existing businesses looking to expand. Eligible recipients must pledge to create at least 200 new jobs by July 1, 2013. They can take up to five years to meet that goal provided they invest at least $25 million of their own funds in the expansion"..........READ MORE
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