Aetna to move Connecticut headquarters to New York City

Artist rendering of the new Aetna Corporate Headquarters in the Chelsea section of New York City. (Image Courtesy: Aetna)

HARTFORD, Conn. (WTNH)– Aetna will move its headquarters from Connecticut to New York City.

The company announced on their website on Thursday that Aetna is moving its Hartford headquarters to New York City in late 2018.

Related Content: Aetna CEO says headquarters move will have ‘minimal impact’

The move will have minimal impact on their Connecticut based associates, Aetna explained in a release on their website.

Related Content: Aetna leaves, Amazon comes. What’s going on with job creation in Connecticut?

The company remains committed to its Hartford campus and the thousands of associates based there, in addition to other established locations throughout the country and around the globe. Several of Aetna’s key businesses will remain primarily based in Hartford, and the Consumer Health & Services team will continue to operate out of Wellesley, Massachusetts.

Aetna’s long-term commitment to Connecticut will be based on the state’s economic health. The company remains hopeful that lawmakers will come to an agreement that puts Connecticut on sound financial footing, and that the state will support needed reforms to make Hartford a vibrant city once again.”

Aetna added that this move is an important step for the company.

Web Extra: Governor Malloy’s remarks regarding Aetna’s proposed move

Aetna Chairman and CEO Mark T. Bertolini released a statement that reads:

New York City is a knowledge economy hub, and a driver of the innovations that will play a significant part in our ongoing transformation. Many of the roles in our new office will be filled by innovators from the area’s deep talent pool, which will be an invaluable resource as we consider additional investments in the city going forward. I thank Gov. Cuomo and his team for their partnership throughout this process, and look forward to working closely with Mayor de Blasio as we build on our role as a responsible corporate citizen.”

Governor Malloy‘s office also released a statement on the relocation:

Connecticut has a long history with Aetna and we appreciate that thousands of their employees will continue to work and live here in the state. While Hartford may not be New York City, we are proud of the city’s revitalization. Hartford provides a strong foundation for any company in the insurance sector, large or small. From a very deep bench of top insurance talent, to incredible school systems and a high quality of life for employees, Connecticut remains the insurance capital of the world for good reason.”

Midday Thursday, Governor Malloy issued a second statement regarding the Aetna announcement.

While Aetna has decided to move 250 jobs to New York City, the vast majority of their nearly 6,000 employees in Connecticut will stay here. At the same time, this is an important reminder that to be competitive, Connecticut state government must immediately take the necessary steps to produce a balanced biennial budget with recurring measures to reduce spending and structural solutions to our long-term problems. We must also continue to invest in the revitalization of our cities.

“My budget proposal this year is focused on not just protecting our cities, but in growing them, and making them even more dynamic and exciting places to work and to live. Make no mistake – Hartford is experiencing a transformation with hundreds of new housing units, a major university campus moving downtown, and an arts and culture scene that grows more vibrant each and every day. It is imperative that we act expeditiously in taking the necessary steps to address our long-term challenges head-on so that we are able to provide predictability for business and taxpayers alike.”

Related Content: Lawmakers and Aetna themselves react to potential relocation

Hartford Mayor Luke Bronin said that this move should send a signal to lawmakers that Connecticut needs to work harder to retain businesses.

Now that Aetna has made its decision final, I hope it serves as a clear and powerful message to leaders of both political parties in Connecticut that we need to take bold action quickly. The City of Hartford is finally seeing the start of the revitalization that eluded us for so long, and you can feel the new energy in the Capital City. But at the same time, Hartford and the State of Connecticut as a whole are facing fiscal crises that are decades in the making, and can’t be fixed with stop-gaps or band aids. I hope that, as a state, we can use the loss of Aetna’s flag as a rallying cry to put Connecticut on a sound fiscal path and position our cities – including Hartford – to be the strong, vibrant centers of growth that Connecticut needs and that our major employers demand,”

Senate Republican Len Fasano also issued a statement regarding Aetna’s move, saying:

“It’s disappointing but not surprising news today that Aetna has confirmed its decision to move its headquarters out of Connecticut. The statement from Aetna today makes it clear that Aetna, like many job creators, is closely watching what happens at the state Capitol. Budget uncertainty and economic volatility is something that our state’s job creators cannot ignore, and something that without a doubt factors in to their business decisions. Connecticut is at a crossroads and now is the time to send a strong message that our state is committed to policies that create stability, predictability and growth. We need to make it clear that the policies that have driven our state into the ground have to end, and we need to adopt a budget that moves our state in a new direction.

Much like what happened with GE, Aetna has not been silent on their concerns. In 2015, when huge tax increases were on the table, Aetna made it clear they saw that our state was ‘in danger of damaging its economic future by failing to address its budget obligation in a responsible way.’ They also said ‘such an action will result in Aetna looking to reconsider the viability of continuing major operations in the state.’ Unless we take measures to move Connecticut in a new direction, job creators like Aetna will continue to be faced with questions of whether it makes sense to continue growing in our state. Today they are moving their headquarters, but if nothing changes could more moves be in store? We cannot dismiss their move or comments as inconsequential. We have to recognize that now is the time for a significant shift in policy to better our state for all people, businesses and communities.”

New York City Mayor Bill DeBlasio also commented on the move by stating:

New York City is where talent and technology come together. We’ve never been stronger, and that’s why companies like Aetna and their workers want to be here. We’re proud to support its move to the city.”

For more details on the relocation, click here.

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