CohnReznick, the super-regional accounting firm, will bring nearly 200 jobs to downtown Hartford, with the aid of a $1.2 million loan from the state, the governor’s office said this afternoon.
The accounting firm will consolidate its offices in Glastonbury and Farmington in 50,000 square feet of leased space on the 11th and 12th floors of Metro Center on Church Street.
Under the terms of the deal with the state, CohnReznick must retain its current 196 employees and add another 40 over the next four years. The firm’s lease at Metro Center runs 11 years.
“I am excited about all this move offers us — from building stronger, more efficient teams to the improved sharing of information and ideas to bring added value to our clients and the community,” said Frank Longobardi, the firm’s regional managing partner, New England.
An announcement of a move had been expected since early January when CohnReznick’s plans to consolidate its offices was disclosed at the annual CBRE/NE annual outlook meeting. Lease negotiations were in the final stages, but the firm declined to identify the location.
The space will bring together 27 partners and 162 employees of the two offices. The move will take place in November, after a floor-to-ceiling renovation of the space.
The funding from the state will be used to finance those renovations, which are expected to total $4.5 million.
CohnReznick was formed in the 2012 merger of J.H. Cohn LLP, which had five offices in Connecticut and Springfield, Mass., and Reznick Group, P.C., based in Maryland. Two area firms — Kostin, Ruffkess of Farmington and Longobardi Associates — had combined into J.H. Cohn previously.