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NYC revokes $9.6 million incentive package to move Aetna HQ

Posted: January 12, 2018

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A $9.6 million incentive package offered to Aetna to move its headquarters from Hartford,Conn., to New York City has been revoked, according to Crain’s New York.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

news.1“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.

Read the full story at NBC Connecticut: NYC Revokes $9.6 Million Incentive Package to Move Aetna Headquarters: Report – NBC Connecticut

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