Momentive to move headquarters to region

Momentive Performance Materials will move its corporate headquarters from Connecticut to Rensselaer
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Categories: Business

Momentive Performance Materials will move its corporate headquarters from Wilton, Conn., to Rensselaer County, company officials announced this morning.

The company, which currently operates a local facility in the former GE Silicones building in Waterford, is looking at several sites in Rensselaear County for the headquarters.

Company officials said the new facility would bring about 150 and new jobs to the area.

The state Legislature granted as much as $95 million in tax breaks over the next decade and the state Senate added $6.5 million in funding last month to help entice the company to make the move.

Momentive is the world’s second-largest producer of silicones and silicone derivatives. It has about 5,000 employees worldwide and posted revenues of $2.5 billion in 2006, according to its Web site.

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