Swiss Army Brands Inc. has broken ground for a new $26 million North American headquarters site, due to open in 2007, in Monroe, Conn. The company, best known for Swiss Army Watches and its Victorinox Original Swiss Army Knife pocket knife, has been at its current location in Shelton, Conn., for 30 years.
The new complex will include corporate offices and a warehouse facility, totaling more than 165,000 square feet on a 26-acre site.
Connecticut is assisting the multi-million dollar project with a $1.5 million loan to the company from its Department of Economic and Community Development and a $650,000 sales and use tax exemption for construction materials from its Development Authority. The town of Monroe has approved $950,000 in property tax abatements over seven years to support the building project.
“This is a great step toward expanding our company’s future growth and achieving our vision to create a world class organization,” said Sue Rechner, president and chief executive officer of Swiss Army Brands, Inc. “We have always thought of the people of Connecticut as part of the Swiss Army family. The states’ commitment and assistance to our growth enables us to continue supporting the community and contributing to Connecticut economy.”
Swiss Army Brands, a wholly owned subsidiary of Victorinox, AG, Switzerland, employs 250 people in North America, 175 of them in Connecticut. It is the exclusive U.S., Canadian and Caribbean marketer of Victorinox multi-tools and cutlery, Swiss Army timepieces, and R.H. Forschner by Victorinox cutlery. It sells apparel throughout the world under the Victorinox trademark and has flagship retail stores in the New York and Tokyo.