Swiss Army Brands, a subsidiary of Victorinox SA, Switzerland, will relocate its North American headquarters from Shelton, Conn. to Monroe, Conn., in January 2007.

Plans for the new complex include corporate offices and a warehouse facility, occupying more than 165,000 feet on 26 acres. The project's builder, Robert D. Scinto Real Estate Development, began excavation in May.

The Connecticut Department of Economic and Community Development plans to provide a $1.5 million loan to the company for the $26 million project. The state bond commission will vote on the loan at its next meeting, June 30.

The Connecticut Development Authority has also supported the development, providing the company with a $650,000 sales and use tax exemption for construction materials. The town of Monroe has approved $950,000 in property tax abatements for the complex over seven years.

Swiss Army's North American headquarters have been in Shelton for 30 years. The facility employs 250 people, including 175 Connecticut residents.

Source : nationaljeweler.com

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