CVS Health confirms that Aetna will stay in Hartford

CVS Health confirms that Aetna will stay in Hartford

CVS Health Corp. said Friday it has "no plans" to move Aetna from Connecticut's capital city, reversing last year's announcement by the insurance giant that it would move headquarters to another state after almost two centuries in Hartford.

"We have no plans to relocate Aetna's operations from Hartford", CVS spokesman David Palombi said, adding that the company had met with Connecticut Gov. Dannel Malloy and Hartford Mayor Luke Bronin on Thursday.

CVS Health will also continue to be headquartered in Rhode Island.

Once the merger is complete, Hartford will be considered the "corporate hub" for the insurance business, rather than Aetna's headquarters, Mr. Palombi said.

New York City is halting a $9.6 million incentive package offered to Aetna to move its headquarters to the city.

"We had a good discussion about CVS Health's commitment to community and proud history as a New England-based company - as well as Aetna's history in Hartford", Bronin said Friday. "I will continue to urge close scrutiny from DOJ and other enforcement bodies to ensure the proposed Aetna-CVS merger provides consumers with greater choices and competition and spurs economic development in our state", Blumenthal said in a statement on Friday. Today's announcement confirms that CT is a tremendous place to do business, with a talent pipeline and quality of life that are second-to-none.

NY officials seem to think Aetna's changed its mind, saying the incentive package was withdrawn because the relocation is not moving forward.

CVS confirmed to Channel 3 that the company has "no plans to relocate Aetna's operations from Hartford". That had been part of a $35 million package offered jointly by the city and the state of NY.

Aetna had pledged to spend $84 million to move 250 senior corporate executives from Hartford into a 145,000-square-foot building at 61 Ninth Ave., in Manhattan.

But so far, Aetna has refused to confirm whether it's still committed to the NY move, and the city's announcement didn't change that stance. It traces its roots in Hartford to 1819. "One can only hope that the governor, the mayor of Hartford and the state legislature will put together a package that will secure the presence of the headquarters for the foreseeable future".

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