Cigna, the Philadelphia-based insurance company is moving its headquarters to Bloomfield, Connecticut.
The company will add 200 to 800 new jobs in exchange for a $15 million loan and $50 million in tax breaks they will have to earn.
"Today is a very exciting event," David M. Cordani, CEO of Cigna, said.
Gov. Dannel Malloy made the formal announcement today at Cigna's corporate office in Bloomfield when he signed the bill to create the “First Five” program into law.
"Ultimately what we want to be about in the state of Connecticut is creating jobs," Malloy said.
Malloy proposed the “First Five” program, which offers incentives to the first five businesses that each bring at least 200 new full-time jobs into Connecticut within the next 24 months or invest at least $25 million and creates 200 jobs within five years after the commissioner-approved the assistance.
Cigna company is the first company to bring jobs to the state under the First Five program.
