New York City Cancels Financial Incentives For Aetna Headquarters Move

Bicyclists pedal past the Aetna headquarters in Hartford

New York City Cancels Financial Incentives For Aetna Headquarters Move

On Wednesday, New York Mayor Bill de Blasio's administration canceled the $9.6 million incentive package it offered Aetna to relocate its headquarters to the city.

Aetna has inked a lease to occupy a new building in lower Manhattan, committing to move 250 headquarters workers to the site from Hartford.

CVS confirmed to Channel 3 that the company has "no plans to relocate Aetna's operations from Hartford".

At the time, Aetna said it planned to move approximately 250 employees to Manhattan, but things changed toward the end of past year.

"They can always come back to us once they've made the decision".

In June, New York City and State officials said they would provide Aetna with incentive packages, including tax breaks, worth about $35 million over 10 years.

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Aetna appears to be staying in Hartford, according to the Hartford Courant.

The acquisition by CVS left that in limbo.

CVS Health will continue to be headquartered in Rhode Island, said spokesman David Palombi.

CVS' chief executive Larry Merlo met with Hartford Mayor Luke Bronin at city hall Thursday.

Aetna, which is the third-largest health insurer in the country, employs more than 5,000 people in CT, where it has been based since 1819.

NY officials seem to think Aetna's changed its mind, saying the incentive package was withdrawn because the relocation is not moving forward.

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