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February 8, 2023

#10 Firm CohnReznick Borrowed a Few Bucks From the State of Connecticut

$508 million in revenues and 274 partners couldn't dig deep into their own pockets to find $1.2 million? Seems legit:

Accounting firm CohnReznick, which has Glastonbury and Farmington offices, is going to consolidate its area operations in downtown Hartford's Metro Center with help from a $1.2 million state loan, Gov. Dannel P. Malloy said.

The firm has pledged to retain its 196 local jobs and to create 40 more within four years. If it hits those promises, the state will forgive half of the 10-year loan, which has a 2 percent interest rate and deferred payments for the first five years.

Those are some pretty good terms, the only lender with more generous terms is the Federal Reserve and good luck getting those guys to lend you money if your name isn't Chase.

CohnReznick now ranks #10 on the Accounting Today Top 100 — who else among the Top 10 borrows money from the state? Who cares, half of it is free money anyway. Well, for CohnReznick anyway. Sorry, taxpayers, sucks to be you as usual.

Here is the full press release from the governor's office for your reading pleasure.

 

CohnReznick Hartford press release

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