Aetna Heading to New York, Exits Connecticut

But as the company places greater emphasis on creating digital tools for people to manage their health care, being in New York City, with its large reservoir of talent, seemed vital to the company's future, said Mark T. Bertolini, Aetna's chairman and chief executive. "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".

For New York, the company's decision is a feather in the cap of a city seeking to brand itself as a rival to Silicon Valley, with Spotify, the streaming music service, planning a move into 4 World Trade Center, and Snap Inc., parent of the social media platform Snapchat, taking up residence in Times Square. "Aetna's long-term commitment to CT will be based on the state's economic health".

Along with pledging to invest in the company itself, Smith said in her May 15 letter that Malloy's administration is working to reinvest in Hartford; that the state has invested in science, technology, and math education to bolster its labor pool; that CT remains a favorable regulatory environment for insurers; and that improvements to Interstate 84 are just part of a series of upgrades to infrastructure in the Hartford area. "New York has a deep, diverse talent pool and pro-growth environment that businesses need to succeed, and today more companies are choosing NY to grow and diversify their business".

The news was not a total surprise to CT officials, who learned in May that Aetna was in negotiations with several states about moving its corporate base from the state's capital.

Insurance giant Aetna made it official on Thursday, announcing it will move its headquarters to New York City beginning in late 2018 after almost two centuries in Hartford, Connecticut.

"While Aetna has chose to move 250 jobs to New York City, the vast majority of their almost 6,000 employees in CT will stay here". "We've never been stronger, and that's why companies like Aetna and their employees want to be here".

"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", stated Meg Green, a spokesperson for Gov. Dannel P. Malloy, in an email response to a Hearst Connecticut Media query.

Aetna said it paid $65 million annually in state taxes to CT as of 2015 and expected that total to increase by 27 percent as a result of the business tax increase. But at the same time, Hartford and the State of CT as a whole are facing fiscal crises that are decades in the making, and can't be fixed with stop-gaps or band aids.

The Hartford-based company that has been in CT for more than 150 years, said it a statement that the move will have minimal impact on Aetna's Connecticut-based associates and the company's long-term commitment to CT will be based on the state's economic health.

Following is Aetna's full statement. "The company remains hopeful that lawmakers will come to an agreement that puts CT on sound financial footing", the company said in a written statement. Budget uncertainty and economic volatility is something that our state's job creators can not ignore, and something that without a doubt factors in to their business decisions.

"Much like what happened with GE, Aetna has not been silent on their concerns".

Cuomo's office elaborated that NY lured Aetna to relocate here, after the Empire State Development "offered the company $24 million in performance-based tax credits delivered over 10 years". We can not dismiss their move or comments as inconsequential.

You can read their full statement here.