Politics & Government
State Reiterates Need for Bridgewater Associates' Economic Incentive Package: Report
The Westport-based hedge fund - the world's largest - is receiving millions of dollars from the state to keep the company in Connecticut.
WESTPORT, CT — The $22 million economic incentive package for Westport-based hedge fund Bridgewater Associates is necessary, in part, because the company was experiencing a hiring slow-down, according to the state Department of Economic and Community Development.
The package, which could grow to $52 million if all incentives are met, has been criticized by some state Republicans and others for its largess.But the DECD told the Connecticut Mirror that the company is dedicated to meeting the hiring goals the package requires.
In addition to hiring 750 new employees over the next few years, Bridgewater Associates - the largest hedge fund in the world with more than $150 billion under management - also agreed to expand its Westport headquarters, and facilities in Norwalk and Wilton.
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Click here to read the full story on the Connecticut Mirror website.
Photo: Bridgewater Associates' Westport headquarters
Find out what's happening in Westportfor free with the latest updates from Patch.
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