State Offers $2.5 M To Software Company To Add 50 Jobs

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KAYAK, a company that helps travelers compare airline ticket prices, is undertaking a $5 million building renovation in Stamford, and the state plans to give the company a $2.5 million loan at 1 percent interest for 10 years. The loan will convert into a gift if the company adds 50 jobs.

KAYAK is moving its headquarters from Norwalk to Stamford after being purchased by Priceline, a company valued at $51 billion. KAYAK has 40 positions in Connecticut, but the bulk of its workforce is in the Boston suburbs, at its “technology headquarters.”

The subsidized loan announcement was made Wednesday, and has to be approved by the state Bond Commission on Sept. 27, as the loan will be given with borrowed funds.

Read the full story by Courant reporter Mara Lee on www.courant.com.

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