Westport-Based Bridgewater Associates Pays Back CT Government Loan

WESTPORT, CT — Westport-based hedge fund giant Bridgewater Associates has paid back a state loan that was designed to create jobs in Connecticut, reported the Connecticut Post.

As a result, Bridgewater is forgoing millions of dollars worth of tax credits, though the company says it plans to stay in Connecticut. The publication wrote that Bridgewater is

"Bridgewater is proud to be based in Connecticut," Sarah Fass, Bridgewater's chief human resources officer, told the Post in a statement. "We’ve called Connecticut home for over four decades, and we have no plans to relocate."

Earlier this year, the company announced layoffs, which were at least the second round of job reductions since 2020.

Bridgewater signed the loan deal with the state Department of Economic and Community Development in 2016, and reportedly paid off the remaining balance of $6.5 million in March, though the Post only reported it this week.

Read the Connecticut Post story.