Gov. Dannel P. Malloy says he doubts financial services giant UBS will keep 2,000 jobs in Stamford over five years as part of its 2011 agreement in exchange for $20 million in state incentives.
In a meeting with the editorial board of Hearst Connecticut Media on Monday (http://bit.ly/10hnd5s), the governor said he doesn't think UBS will "meet the full five years," adding he has doubts.
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UBS declined to comment.
If it fails to keep all the jobs, UBS must repay the $20 million forgivable loan and $1.5 million in interest.
Malloy's expression of doubt raised the key issue of jobs in his re-election campaign.
Republican challenger Tom Foley quickly criticized Malloy's economic development policies and said such state aid is corporate welfare that fails to create or keep jobs.
Information from: Connecticut Post, http://www.connpost.com