Swiss Army Brands Inc. recently broke ground for a $26 million North American headquarters site, slated to open in 2007 in Monroe, Conn. The company, best known for its Swiss Army watches and Victorinox Original Swiss Army pocketknife, 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 project with a $1.5 million loan from its Department of Economic and Community Development and a $650,000 sales and use tax exemption for construction materials from its Development Authority. Monroe has approved $950,000 in property tax abatements over seven years.
“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’ve always thought of the people of Connecticut as part of the Swiss Army family. [Their] 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 A.G. in Switzerland, employs 250 people in North America, 175 in Connecticut. It’s the exclusive U.S., Canadian, and Caribbean marketer of Victorinox products, including multitools, Swiss Army timepieces, R.H. Forschner by Victorinox cutlery, and apparel under the Victorinox trademark.