Connecticut ‘Lures’ OKC Chemical Firm With $3M Loan

• Joe Wertz
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  Joe Wertz was a reporter and managing editor for StateImpact Oklahoma from 2011-2019. He reported on energy and environment issues for national NPR audiences and other national outlets. He previously worked as a managing editor, assistant editor and staff reporter at several major Oklahoma newspapers and studied journalism at the University of Central Oklahoma.

Provided / Tronox Inc.

Tronox's Oklahoma City headquarters.

Oklahoma City chemical firm Tronox is relocating its corporate headquarters to Stamford, Conn., a move company and state officials there say will create 100 jobs over three years.

The company — which produces titanium dioxide, a white pigment commonly used in paint and various coatings — will retain some officies in OKC, Connecticut Gov. Daniel P. Maloy said in a statement.

Connecticut offered Tronox a $3 million loan with discount rates, reports the Hartford Courant‘s Mara Lee:

The first $2 million would be forgiven if 60 full-time jobs were established in the first year, and the entire loan would be forgiven if the company sustained 100 jobs for three years.

Tronox filed for bankruptcy in 2008, and emerged from restructuring last year. “The company was spun off from Kerr-McGee in 2005,” The Oklahoman‘s Paul Monies reports.