STAMFORD, Conn. (AP) — The largest internet job site in the world says it plans to spend $26.5 million to expand its offices in Stamford, growing the workforce from about 700 employees to more than 1,200 in the coming years.

Dave O’Neill, the chief financial officer of Indeed, is crediting Connecticut’s “great talent pool” with helping the internet grow into a global presence, with more than 200 million users a month.

The company’s expansion was announced Wednesday. The Connecticut Department of Economic and Community Development will provide a 15-year, $7 million low-interest loan to support the expansion, which includes more leased space.

State funds may also be used for new equipment and improvements. Indeed is also eligible for up to $15 million in tax credits and loan forgiveness if it meets certain employment obligations.

(Copyright (c) 2023 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Join our Newsletter for the latest news right to your inbox