[arrl-odv:26473] Aetna Rumor: Leaving Hartford

Ladies & Gentlemen: There are some rumors circulating in the press today about Aetna Health moving from Hartford to either NYC or Boston. The best coverage is excerpted below from Hartford Business Journal. Details will follow when available. Business leaders say possible Aetna HQs move a 'wake-up call' Greg Bordonaro<http://www.hartfordbusiness.com/apps/pbcs.dll/personalia?ID=31> Business leaders say rumors of a possible decision by Hartford health insurer Aetna to move its corporate headquarters to New York City should be a wake-up call for policymakers to improve the state's business climate. Connecticut, leaders say, is trailing nearby New York City and Boston in the talent wars, putting the state at a disadvantage in recruiting and maintaining employers and workers. "I think it would be a big, big deal," if Aetna moved its headquarters, said Joe Brennan, president and CEO of the Connecticut Business and Industry Association. "When you have such an iconic institution, you can't minimize the impact of that." Late Tuesday, former state legislator and Hartford Courant columnist Kevin Rennie made a blog post asserting New York City is winning against Boston in a competition to lure Aetna's headquarters from Hartford and that there could be an announcement on a decision soon. A source familiar with the situation confirmed that Aetna has not provided Gov. Dannel P. Malloy with formal notification that they're leaving. Aetna, Malloy and Hartford Mayor Luke Bronin Wednesday didn't immediately return requests for comment. New York City Mayor Bill de Blasio's office had no comment Wednesday on questions posed via email. Brennan said workforce talent today is more attracted to larger urban centers, which is why many companies are interested in Boston and New York City, despite their higher taxes and costs. Aetna currently employs between 6,000 to 7,000 people in the Hartford region and even if the company moved its headquarters to New York it would still likely have a sizable Hartford presence, Brennan said. Oz Griebel, president and CEO of the MetroHartford Alliance, said he is unaware of Aetna's potential plans to move its headquarters to New York City, but he stressed the insurer's importance to the region. Aetna is one of three insurance companies that pledged to give the city of Hartford a combined $50 million over five years, to help solve its budget deficit. "Aetna is one of the most important employers both in terms of the number of people they employ and what they represent in terms of their commitment to the Capital City," he said. "We are living in a very dynamic environment now," Griebel added. "Location to some degree matters less." He said the talent wars require companies to be near large numbers of higher-education institutions. Griebel said Connecticut must shore up its shortcomings, including the private sector's lack of confidence in the state's ability to address its fiscal issues, and overcome the realities and perceptions of having a negative business environment. Brennan said policymakers often focus on tax policy, but it's only one factor in the overall business climate. Living affordability and ability to attract the best and top talent are also very important. Tom Gallagher - NY2RF Chief Executive Officer ARRL Headquarters ARRL - The national association for Amateur Radio(tm) 860 594 0404 cell 704 907 7158 tgallagher@arrl.org<mailto:tgallagher@arrl.org>
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Gallagher, Tom, NY2RF (CEO)