NYC Revokes $9.6 Million Incentive Package to Move Aetna Headquarters: Report - NBC Connecticut

NYC Revokes $9.6 Million Incentive Package to Move Aetna Headquarters: Report

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    Aetna Incentive Deal Canceled

    A $9.6 million incentive package offered to Aetna to move its headquarters from Hartford to New York City has been revoked, according to Crain's New York.

    (Published Wednesday, Jan. 10, 2018)

    A $9.6 million incentive package offered to Aetna to move its headquarters from Hartford to New York City has been revoked, according to Crain's New York.

    "We are unable to move forward with the proposed assistance package at this time," Anthony Hogrebe, the vice president of public affairs for the New York City Economic Development Corporation told NBC Connecticut.

    The commissioner of the Connecticut Department of Economic and Community Development said it's not unusual for a company to reconsider this kind of move.

    "While we don't have all the information regarding the reasons for, and implications of, the cancellation of New York's financial incentives, it is not unusual for a company to reconsider such a move during a merger of this magnitude. Aetna's current home in Hartford is a great location with incredible access to a talented and skilled workforce. The administration has been in contact with CVS leadership to reiterate this point as well as the many other competitive advantages our capital city and state have to offer," Smith said in a statement to NBC Connecticut.

    NYC Revokes Incentive Package to Move Aetna

    [HAR] NYC Revokes Incentive Package to Move Aetna

    A $9.6 million incentive package offered to Aetna to move its headquarters from Hartford to New York City has been revoked, according to Crain's New York.

    (Published Wednesday, Jan. 10, 2018)

    In June, the company announced it will be moving its headquarters to New York City in 2018 after being in Hartford for more than 150 years. Aetna said in a statement last year that the move the move will have minimal impact on Aetna’s Connecticut-based associates and the company's long-term commitment to Connecticut will be based on the state’s economic health.

    A statement from New York Gov. Andrew Cuomo said Aetna would be moving into a 145,000 square-foot facility in Chelsea and bringing 250 well-paying jobs to New York. 

    However, in December, the insurance company was acquired by CVS.

    "All Aetna locations will be evaluated as part of the integration planning process," a spokesman for Aetna said on Wednesday. 

    It is not clear if the deal being canceled means the company will stay in Hartford or not. 

    “It's too early to say what this means for Hartford, but I’ve stayed in communication with both Aetna and CVS, and I’ll continue to work with them and to advocate for Hartford’s interests as their merger moves forward," Hartford Mayor Luke Bronin said on Wednesday.

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