Fortune 500 company to grow Baltimore region footprint
BALTIMORE, MD (February 6, 2018)
– Stanley Black & Decker
, the world’s leading provider of tools and storage, is expanding its Global Tools & Storage headquarters in Baltimore County. The company currently occupies 565,000 square feet in Towson and plans to add an additional 92,000 square feet in the Greenleigh development in Middle River. Stanley Black & Decker has approximately 2,300 employees in Maryland and this expansion project will support the addition of 400 new jobs.
“As Stanley Black & Decker continues to grow, we need to continually infuse our business with innovation-minded people who are excited about building the innovations that will change the world tomorrow,” said Jeff Ansell, president of global tools & storage for Stanley Black & Decker. “We continue to find those people right here in Maryland and we are proud to expand our operations in a place that we’ve called home for nearly 110 years. The state of Maryland and Baltimore County have been strong partners throughout this expansion process, and are working hard to help our innovative, high-performing company grow in Maryland.”
Named one of Fortune
Magazine’s World’s Most Admired Companies for 2017, Stanley Black & Decker is a leader in tools and storage, commercial electronic security, and engineered fastening systems. An S&P 500 and Fortune 500 company, Stanley Black & Decker operates more than 30 manufacturing facilities in the United States, including one in Maryland. Earlier this year, the company opened a brand new makerspace
in Towson designed to help employees bring innovative new ideas to life, as well as serve as a resource for the greater Baltimore community to engage in meaningful maker experiences.
“Stanley Black & Decker has a long history in Maryland, and we are excited to be working closely with them on their expansion, which will support the addition of 400 new jobs,” said Governor Larry Hogan. “World-class companies like Stanley Black & Decker continuing to invest in our state is proof that our actions to grow our economy and ensure that Maryland is open for business are working.”
“For a highly-innovative company like Stanley Black & Decker to continue growing, we know that having the right workforce base is critical,” said Maryland Commerce Secretary Mike Gill. “Maryland offers one of the most highly-educated and highly-skilled workforces in the country that gives global companies like Stanley Black and Decker a competitive advantage.”
To assist with project costs, the Maryland Department of Commerce has approved a $2 million conditional loan through the Maryland Economic Development Assistance Authority and Fund (MEDAAF). Additionally, Baltimore County is providing a $200,000 conditional loan to assist the company with project costs. The company is also eligible for various tax credits including the state’s Job Creation Tax Credit.
“Stanley Black & Decker is growing in Baltimore County, where power tools were invented by two Towson entrepreneurs over a century ago. Their investment and jobs demonstrate confidence in our strong economy and workforce,” said Baltimore County Executive Kevin Kamenetz.
Stanley Black & Decker media contact:
Tim Perra, Vice President, Public Affairs
About Stanley Black & Decker
Stanley Black & Decker, an S&P 500 and FORTUNE 500 company, is the world's leading provider of tools and storage, the world's second-largest commercial electronic security company, and a leading engineered fastening systems provider, with unique growth platforms in the Oil & Gas and Infrastructure industries. Well-known brands include: STANLEY, BLACK+DECKER, DEWALT, Porter-Cable, Bostitch, Facom, Mac Tools, Proto, Vidmar, Lista, and more. Learn more at www.stanleyblackanddecker.com
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov